PPI & Payment Protection Insurance Claims

The PPI mis selling scandal has come under the very public scrutiny of various public bodies including:


  • The Financial Services Authority
  • The Citizens Advice Bureau
  • The Competition Commission

Along with various other consumer watchdogs all of which have heavily criticised the sales process used by Banks to sell this insurance. Their reports have been so damning, that the Competition Commission have recently suggested the current way PPI is sold on loans should be banned – something which is being planned for 2010!
 
     
 
     
 

What is PPI?

PPI stands for Payment Protection Insurance, although it may have been described to you as loan protection insurance, unemployment protection income and various other guises.


It is basically an insurance policy. The idea is that if you take out a loan, credit card or mortgage you take out Payment Protection Insurance as well. Should find yourself in the unfortunate position of not being able to meet your repayments due to sickness or unemployment the insurance policy will make the payments for you. On the surface this sounds like a great idea, so what’s the problem?
 
     
 
     
 

Mis Sold PPI

The chances are the insurance product you have purchased has been ‘mis sold’ to you and you will not be able to rely on it when you need it most.  Examples of mis sold payment protection insurance include:


  • Banks pressurising you to purchase it, typically by telling you will not get the loan or credit card without it.
  • Selling you a product that isn’t going to cover you due to being unemployed, self-employed or in part time employment.
  • Adding PPI to your loan without telling you.

These are just a few of the many examples of banks abusing the selling of, and thereby ‘mis selling’ payment protection insurance.


Find out more about PPI Mis selling.
 
     
 
     
 

Reclaim Payment Protection Insurance

So if you have a loan, credit card or mortgage, then chances are you can reclaim the payment protection insurance policy you have purchased. Fill in our online PPI claim form or ring 08000 461 825.
 
     
 
ppi claim form




mis sold ppi case examples