The issues that stem from PPI mis-selling have been described as one of the biggest scandals ever to hit the UK banking industry. Thousands of claims for refunds continue to pour in, and lenders have collectively assigned billions of pounds to the purpose of covering repayments. Many people who are entitled to PPI compensation have still yet to claim. If you have taken out any form of credit agreement in recent years, including a mortgage, you could be eligible. If so, it is best to make your claim as soon as possible.
What Does PPI Do?
Payment protection insurance (PPI) is not a bad thing in itself. If you are made redundant against your will, it will cover your repayments for a certain period, usually twelve months. However, many lenders have regularly mis-sold PPI, giving people inappropriate policies or using selling methods that go against industry regulations. Any borrower who has been affected by this is entitled to make a claim for PPI compensation. Having already helped many people to make a successful claim, we are confident that we will be able to help you get your money back.
What is Mis-Selling?
Not everybody who has had PPI of any kind is entitled to PPI compensation. However, if you have been mis-sold a policy, claiming compensation is your basic right. A number of things can constitute mis-selling. One of the most common is when a lender gave a customer the impression that taking out their own PPI policy was compulsory in order to receive credit. In fact, you should have been informed that you had a right to shop around and did not have to take out the lender’s own policy if you found a better deal.
Other people were given inappropriate policies that did not even apply to them and would never have paid out, for example, if they were self-employed certain terms and conditions meant the insurance would not pay out and therefore the PPI policy was useless to them – and should never have been sold to them.
Claiming PPI Compensation
If you are wondering how to claim ppi, It is easy to make a claim, especially when you use the services of a claims management company. We employ experienced claims handlers who can use their expert knowledge to give you help and advice with every stage of the process. Thanks to our no win no fee* way of working, you will not face any charge unless you successfully receive your PPI compensation. An adviser will also be assigned to make sure you are always kept in the loop about the progress of your claim. Get in touch with our friendly team if you would like to know more.
