Reclaim Mis-Sold (PPI) Payment Protection Insurance
Payment Protection Insurance (PPI) has been sold alongside mortgages, loans and credit cards for many years. It was designed to help borrowers meet repayments in the event of accident, sickness or unemployment, but in many cases was mis-sold.
PPI, if sold correctly can provide borrowers with excellent protection but an assessment of your needs should have been carried out prior to you agreeing to the policy. In many cases this assessment may not have been detailed enough or indeed happened at all. This means that the policy may be unsuitable for you and may not pay out if a claim arises.
Usually, the cost is added to your monthly repayments, meaning you end up paying interest on the policy for as long as you have the loan or mortgage. The total cost is quite often many thousands of pounds.
The FSA (Financial Services Authority) has already fined some lenders over PPI sales including Alliance & Leicester, Egg, Liverpool Victoria, HFC, GE Capital, and has now banned the sale of single premium policies.
We, along with the FSA and CAB (Citizens Advice Bureau) believe millions of PPI policies have been mis-sold. We can now help you get back the total cost of the policy and any interest charges. Everything we do is on a NO WIN NO FEE* basis. If we win your claim, we simply take 25% (plus VAT) of your final settlement.
Remember, it doesn`t matter if your loan, mortgage or credit card has been paid off, you can still claim.
*Please note that if you cancel your claim after our 14 day cooling off period, a cancellation fee may be payable. Please see our Terms & Conditions
WHAT IS PPI?
Over the last ten years, loan and credit card providers have routinely mis-sold PPI to many people for whom the insurance policy is inappropriate. As a result, well known lenders such as Alliance & Leicester, Egg, Capital One and HSBC have been fined millions of pounds.
Millions of people who have been affected by the mis-selling of PPI are now making PPI claims, you could be next, start your claim today.
AM I PAYING FOR PPI?
To find out if you are one of these people, check your loan agreement or credit card/store card statements to see if it includes PPI.
For loans, the PPI may be a single-premium policy, which will be shown on your loan agreement as a lump sum added to the loan.
For a credit card, PPI charges should be shown on your statement, as they will be added to your account every month.
WAS I MIS-SOLD PPI?
- You didn't ask for PPI, but it was added anyway?
- You were told the insurance was compulsory or by taking it, you would have a better chance of getting the loan.
- You wasn't aware PPI was optional or that you could buy cheaper PPI cover elsewhere.
- You were unemployed, retired or self-employed when you took out the cover.
If they do, you may be eligible for PPI compensation plus the interest charged on the insurance.
