What does PPI stand for?
PPI is an abbreviation for Payment Protection Insurance.
What is Payment Protection Insurance?
Payment Protection Insurance or PPI as it is more commonly known is an insurance product which is sold alongside forms of credit such as Loans, Mortgages or Credit Cards. The purpose of PPI is to provide security to the insurance holder in respect of the financial product that it is sold alongside in the event of accident, sickness or redundancy. Payment Protection Insurance is usually built into the monthly repayment amounts of the loan and can amount to as much as 5%-50% of the monthly repayment.
Why was PPI Mis-Sold?
PPI was mis-sold for many reasons but the most common reason is because it provides billions of pounds annually to the lenders who sell these products. Payment Protection was often sold to consumers who did not need it, did not ask for it and who would not benefit from it. PPI was also mis-sold by lenders who did not explain the policy terms and conditions in advance of it. In some instances they even sold Payment Protection without the customers permission!
How do you reclaim my mis-sold PPI?
When you contact us using our contact forms a claims advisor will be assigned to your case and will call you back to collect all details relating to your Payment Protection Insurance Policy. We then prepare a case of mis-selling and use our legal expertise to reclaim the mis-sold premiums directly from the financial institution concerned.
I cant find my loan documents – Can I still make a claim?
Of course you can! Your loan documents would help us but without them we can still process your PPI claim.
My Loan is now paid off, am I still entitled to make a claim?
If your credit was taken out within the last 6 years then YES! Our process identifies PPI mis-selling from when the credit was taken out.
I have PPI on multiple loans, can I make more than one claim?
When we are Claiming Back PPI it does not matter if it is one case or five. We have the support and infrastructure to match all your needs.
If I process a PPI claim is my credit rating affected?
100% no! You are the victim of mis-selling and this is the lenders mistake, not yours.
Contact us now by visiting our website.
