• PPI FAQs

    What is PPI?

    Payment Protection Insurance (PPI) was a product designed to cover your repayments on Loans, Credit Cards, Car Finances, Mortgages, Store Cards and Catalogues if you are unable to work due to an accident, illness or redundancy.

    As many as 64 million PPI policies1 have been sold in the UK between 1990 and 2010, but it was often mis-sold.

    More than £30bn2 has already been paid back to people who have complained about the sale of PPI.

    Complaints about PPI have previously been made about the way the PPI was sold, but following a recent change in complaints handling guidance there is also reason to complain if the Bank or other provider earned a high level of commission from the sale of PPI, which customers were not told about at the time of sale.

    How was PPI mis-sold?

    It is likely you were mis-sold PPI if you experienced any of the following:

    You were pressured into buying PPI or told you must have PPI
    You were promised a cheaper rate if you bought PPI
    You were told your Loan or Credit application was more likely to be accepted if you bought PPI
    PPI was added without telling you
    You were advised to buy PPI that did not suit your circumstances or needs
    You were self-employed, unemployed or retired but advised to buy PPI
    You had a pre-existing medical condition at the time of buying PPI, which may have affected your ability to make an insurance claim
    You were advised that a pre-existing medical condition was included in your PPI policy (or advised that it was not included)
    It was not made clear that you would pay interest on the PPI if it was added to your loan
    It was not made clear that the PPI would end before the Loan or Credit was repaid
    There may be other reasons you were mis-sold PPI.

    New reason to complain

    The changes to the complaints handling guidance, were a result of a court case about commission earned by a provider (often called Plevin), which means you can now also:

    Complain even if PPI was not mis-sold or you do not think it was mis-sold
    Complain even if you had a previous Complaint about mis-selling of PPI rejected

    What kind of finance agreements can we look into?

    We can check for PPI on Loans, Credits Cards, Store Cards, Catalogues and Mortgages.

    How far back can I claim?

    In the first instance we will liaise with your Lender to find out if you have PPI.

    How will I get paid if I am successful?

    Most Lenders will pay the redress directly to you, either via cheque or credit into an active bank account. Please note that if you are subject to IVA, Debt Management or Bankruptcy, it is possible that the redress will either be used to offset debt/arrears or will be paid to your Insolvency Practitioner, if applicable.

    Do I have to pay anything up front?

    No, we do not charge anything up front.

    Will making a PPI Claim affect my relationship with the Bank?

    No. If you have been mis-sold a policy, then you are entitled to make a Complaint and claim your money back. Lenders have set aside billions of pounds as they know they are responsible for the mis-selling of millions of policies and, therefore, completing your PPI Complaint will not have an impact on your relationship with your Lender.

    Will my credit rating be affected?

    No, your credit rating will not be affected by making a Claim.

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