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About Payment Protection Insurance

THINK YOU’VE BEEN MIS-SOLD? Start your application today!

Are you paying premiums on a payment protection insurance policy which you believe may have been mis-sold and would like to make a PPI claim? Let our team of specialists reclaim PPI on your behalf and we will contend with your PPI provider for full compensation. We are winning PPI refunds for thousands of consumers who were victims of PPI misselling.

If you can can answer ‘yes’ to any of the following questions you too can receive full compensation:

    1) You were unemployed at time of taking out a policy.
    2) You had a medical problem that endangered your ability to work.
    3) The PPI cost implications and calculations were not explained.
    4) The fact your loan term exceeded the lifetime of your insurance policy was not explained.
    5) You were above the age limit (usually 65- 70) at time of taking out the PPI.
    6) You were not asked about other payment protection policies already providing cover ie, income protection.
    7) You bought a ‘single premium’ insurance policy whereby you paid interest on the policy at the same rate as the loan.
    8) The loan providers insisted you took out a PPI with them or forfeit the loan.
    9) The company that provided the policy cannot prove you requested a PPI.
    10) You felt pressured into taking out PPI.

Start your claim today by calling us on the number above or by completing the online form.

What is PPI?

Payment Protection Insurance is designed to cover you should you be unable to make payments on a finance product due to illness, injury or unemployment.

If you have loans, credit cards, store cards or other finance agreements, chances are you have been sold a PPI policy. In many cases you may not recall taking out a PPI policy, but many providers make PPIs a compulsory part of their lending, so it is always worth investigating.

What is a mis-sold PPI?

Debt.org has become increasingly aware of large scale PPI misselling. In many cases PPIs are sold to people who cannot enjoy the cover benefits. In addition, virtually all policies are overpriced and tightly worded to make eligible claims difficult to achieve.

PPI won’t cover you if you are:

  • Unable to work due to an undeclared medical condition
  • Unemployed at time of taking out policy
  • Self-employed and cannot work
  • Retired at time of taking policy
  • Incapable of working due to stress or back problems.*

* The most common reasons for being unable to work.

PPIs offer poor value for money because any potential benefits are usually outweighed by the cost of having a policy. PPIs are often compulsory, but even in cases where they aren’t, the policy can be added to your loan (known as ‘single premium’) and not paid separately. Single premium means you not only pay interest on the loan but on the insurance policy too. If you have a loan of say £50,000, a PPI on top can add as much as £12,000.

The Office of Fair Trading and the Financial Services Authority are jointly investigating the PPI market. The OFT has said only 1 in 5 PPI claims are successful, raising the need for an overhaul in they way policies are sold to the public.

Who is eligible for a PPI refund?

Whether you can claim a PPI refund depends on when you took out the insurance policy. If it was before January 2005, PPIs were not regulated by the FSA. This makes claiming more difficult but not impossible. If your PPI policy is post-January 2005, you are supported by the FSA and we have the best chance of a PPI refund – especially if you are ineligible for any of its benefits.

How do I make a PPI Claim?

If having considered the above criteria, you believe you have been mis-sold a PPI policy you have every chance of making a successful PPI claim. Debts has an excellent record of reclaiming payment protection insurance and our team of claims managment specialists are on hand now to take your case. Please complete the online form or call us on the number above and start your claim for compensation today.

We operate on a no win no fee basis and our low commission makes us the most competitive claims management company in the business.