Mis-Sold Payment Protection Insurance

PPI is also known as Accident, Sickness and Unemployment cover (ASU), Life & Accident, Sickness and Unemployment cover (Life & ASU), Mortgage Payment Protection Insurance (MPPI), Personal Loan Protection (PLP) or Credit Card Repayment Protection (CCRP), these type of policies can be sold alongside your credit card, loan or mortgage, or are ‘stand alone’ policies which are not linked directly to a specific product or credit arrangement.

Reclaim your Mis-Sold Payment Protection Insurance

At the time you took out your PPI were you:

• Self Employed, retired or a student or a homemaker?
• Told you had to take out the PPI to get the credit?
• Pressured into taking the PPI?
• Not told that you could buy PPI elsewhere?

If you answered YES to any of these you may have been mis-sold and entitled to a FULL REFUND!

It has been found that a lot of companies sold these policies without informing the clients they were actually optional, and some companies even included the premiums within the loan repayment figures.

• A PPI policy sounds like a great idea, but do you know about the exclusions? Do you really understand the cover provided? Does your policy cover you if you are not able to work at your own profession or ANY profession?
• When you take out a PPI policy there are certain circumstances under which you cannot make a claim, you should be aware what these circumstances are as; if you were unemployed, retired or even self-employed when you took out a policy you may actually be ineligible to make a claim under any circumstances.
• Were you forced to take out a PPI policy because you were told it was a compulsory part of the loan?
• Were you told the interest rate would dramatically increase if you did not take out the policy? If so, you may well have been mis-sold the policy.
• Were you informed that PPI is an optional extra and cannot be included as a requirement of taking out a loan or credit card.
• We are not stating that PPI is not worth having, a PPI policy is a very good idea and can be an excellent form of insurance, under the correct circumstances and at the correct cost.
• We want you to be aware that it is optional and you do have the right to say ‘no I don’t want it’ if you wish to.
• We will investigate what information was given to you at the point of sale, what options were explained to you and whether the policy is appropriate.
  

If you have any questions, please see our FAQ's section.