HERE TO HELP Membership benefits
Unite fights back on PPI scandal
Unite’s new service helps you fight back against the banks
Unite membership is not just about helping you at work – we can help you and your family with a range of non- employment issues, including the crime of payment protection insurance mis-selling.
There are many horror stories of people who have been wrongly sold payment protection insurance (PPI) – meaning many suffer real hardship and all because of actions of large banking institutions, lenders and insurance brokers.
People like the Carter family, who were sold PPI by a major bank, on a loan for home improvements. Despite already having a high level of existing accident and sickness cover, the bank strongly recommended payment protection insurance for the loan repayments. The bank sold the Carters this insurance without checking to see if they already had this type of cover.
In fact, Mr Carter was employed by Strathclyde Police Constabulary which paid their employees for up to a year if they were unable to work because of accident or sickness. He also had an accident and sickness policy through his
union and another policy with a well- known insurance company providing further cover.
Even more shocking was the fact the bank failed to explain to the Carters that existing medical problems were not covered under the conditions of the insurance. Mr Carter suffered with a heart condition and Mrs Carter had undergone several operations including the removal of a benign tumor and a knee replacement.
So in any case neither Mr nor Mrs Carter would have been able to claim on the insurance. But this didn’t stop the bank from insisting PPI would protect them. The Carters only intended to borrow £31,000 – but after adding the cost of the insurance and its interest, they owed the bank a staggering £46,000 – with the insurance they couldn’t use just clear profit for the bank.
According to an official report from the competition commission, the sale of PPI generated £1.4bn of revenue for the PPI industry in 2006.
Once the Carter’s claim had been 26 uniteWORKS January/February 2013
referred to the Unite PPI team it was quickly determined they had a valid claim. The bank tried to decline the claim but the Carters were persuaded by their Unite rep that it was worth their while continuing with their claim. The bank eventually accepted liability and paid Mr and Mrs Carter compensation of £8,000.
Retired Union member Mr Young received his PPI back in six weeks after contacting the Unite PPI helpline. He said, “I’m very pleased with every aspect of the claim. Each person I spoke to were extremely helpful and knowledgeable.”
*The facts of this article are based on several true cases, and all individuals named in this article have given their permission before hand.
Need help? Call Unite PPI helpline on 0800 0093 038
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36