Payment Protection Insurance
More commonly known as PPI, Payment Protection Insurance is sold by lenders with many credit agreements. The sales pitch is that it will protect payments in the event of unemployment or illness. The reality is that many policies fall short of the mark.
PPI policies are mainly sold with mortgages, loans, credit cards and debt consolidation.
There is alarming evidence from the financial sector that thousands of these policies may have been mis-sold to the consumer. In a lot of cases the percentage of the cost of a PPI policy can be anything from 12-50% of the actual loan value.
Many people may be paying for it without realising or felt pressured into taking one out. There are many instances of mis-selling which are listed below.
If you fall into any of these categories simply complete our online claim form.
PPI policies are mainly sold with mortgages, loans, credit cards and debt consolidation.
There is alarming evidence from the financial sector that thousands of these policies may have been mis-sold to the consumer. In a lot of cases the percentage of the cost of a PPI policy can be anything from 12-50% of the actual loan value.
Many people may be paying for it without realising or felt pressured into taking one out. There are many instances of mis-selling which are listed below.
If you fall into any of these categories simply complete our online claim form.
PPI Claims
Did you feel pressured into taking out a payment protection policy when you took out your finance?
Were you made to feel as though obtaining the loan was based on you also taking out a payment protection policy?
Were you told that taking out a payment protection policy was compulsory?
Were you told you would get a lower rate of finance if you also took out a payment protection policy?
Were you self-employed when you took out the payment protection policy?
Did you have a pre-existing medical problem at the time you took out the policy?
Did you pay the policy in one big lump sum which was added to the finance?
Was the length of the finance longer than the length of the policy? For example most policies only last for 5 years while loans can last much longer.
Is the loan in joint names but your payment protection policy is only for one person?
Did you sign up for finance and the payment protection policy in a shop?
Have you only just realised that you have been paying for payment protection insurance?
Were you told about the full details of your cover when you took out the cover or was it a very quick conversation with the sales person, possible over the phone.