PPI Broker gone bankrupt

Last post Fri, Apr 27 2012, 9:36 PM by maxsteam. 1 replies.
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  •  Fri, Apr 27 2012, 9:36 PM

    Re: PPI Broker gone bankrupt

    wayne72:could I make a claim against the lender/insurer

    Yes, of course you can. It's possible that they will reject your claim but it'll only cost you a stamp - there's no need to use claims management companies.

    • Post Points: 5
  •  Fri, Apr 27 2012, 5:32 PM

    PPI Broker gone bankrupt

    I took out a secured loan in 2004 through a broker over the phone, at the time I was self employed and when the paperwork came through it was all filled in with X marks the spot where I needed to sign, as I had to sign the PPI forms i presumed it was compulsory.

    In 2009 I tried a claim for PPI through a claims management company but they couldn't claim off the broker as they had gone into liquidation in 2007, The CMC tried going through the ombudsmen as there is a fund put aside for brokers/lenders who have seized trading but as the loan was took out before 2006 I wasn't covered by this scheme so I was told I couldn't claim.

    Now my question is could I make a claim against the lender/insurer seeing as it was them that underwrote the policy and at the time they underwrote it knew the policy wasn't worth the paper it was written on?
    • Post Points: 20