Payment protection insurance (PPI) has been a newsworthy story for some time now as this controversial insurance is the subject of a major scandal. There is no doubt that mis sold PPI is the biggest consumer finance scandal of all time. Put simply, many millions of people have claimed back the cost of policies that they were wrongly sold. Could you claim back your PPI costs? The law says that you can, if you can prove that it was sold to you in a manner not laid down in the regulations. Let’s have a look in a little more detail.
What is PPI?
Payment protection insurance is a type of policy that is there to help you if you are made redundant involuntarily. The policy is designed to keep up the monthly repayments on a loan, mortgage or other credit agreement, usually for one year. However, many lenders – some of them high street names – were found to be routinely flouting the rules regarding the sale of PPI. To start your mis sold PPI claim today or to find out more about claiming compensation, simply fill out the form above or give us a call for free on 0800 840 7292 and speak with one of our advisers.
Have I been Mis-sold PPI?
When you took out that loan or mortgage you should have been given full and clear understanding of your rights concerning PPI. Many people were not given the chance to look for a cheaper deal – as the regulations insist, and were led to believe they could only take the package deal offered by the lender. This is a common example of mis sold PPI and, along with others, is responsible for a good proportion of successful claims. Check your paperwork and see if you have a legitimate claim.
Claiming Back PPI Charges
Claiming back mis-sold PPI charges has never been easier as there is plenty of professional help available. Choose a solicitor that offers a no win no fee deal and you are guarded against payment in the unlikely event your claim is unsuccessful, and many promise you 100% of the compensation you are awarded. The current average payout is, in fact, around £3000, so it is well worth the effort. To start your PPI claim today or to find out more about claiming compensation, simply fill out the form above or give us a call for free on 0800 840 7292 and speak with one of our advisers.