PPI (Payment Protection Insurance) is insurance that covers your repayments if you cannot meet them for any reason, for instance accident, injury or being made redundant from your job. Payment Protection Insurance may have been sold to you on any credit product including loans, credit cards, store cards, mortgages, car finance etc. It was mis-sold in many cases and you may be able to make a PPI claim to get your payments back!
PPI can add up to 40% onto your loan repayments and this is nearly all profit for the banks which is why they often wrongly pushed people into adding PPI to a credit agreement. In April 2011 the banks had a decision regarding the selling of payment protection insurance go against them and they have now set-aside billions of pounds for compensation payments. Lloyds TSB have set aside £3.2bn and RBS a massive £1.05bn to deal with PPI refunds. These are two examples which show the magnitude at which PPI was mis-sold to consumers across the industry.
This is not an exhaustive list and there may be other reasons why you should start up a PPI claim, fill in the form to the left and we will contact you to see if you have grounds to start a PPI Claim. See our PPI claims section for additional information.
The banks became increasingly devious when trying to add PPI to your loan so they may have given it a different wording to try and disguise it. This was mainly due to them giving large performance based bonuses to their staff for getting you to take out PPI cover.
· We negotiate 100% PPI payout + your interest!
· A no win, no fee* service!
· Quick and easy application - we handle everything!
· Free no obligation review! On all loans in the past 10 years paid off or still being paid.
· No upfront payments!
· A low 15% fee on successful PPI claims
· Many claims settled in weeks!