The High Court has ordered all those banks guilty of mis-selling PPI to pay back up to £4.5 billion in compensation to customers.
What is Payment Protection Insurance?
Payment protection insurance (sometimes referred to as “loan protection” or abbreviated as “PPI”) covers your loan or debt repayments in the event that you fall behind in your repayments due to a change of circumstances such as being out of work due to illness, or if you lose your job through redundancy.
Payment protection insurance policies are often sold as part of the deal when consumers take out a loan, mortgage or credit card. It is also possible to buy a “stand-alone” payment protection policy from an insurance company that has no direct involvement with the credit provider.
However many of these policies have been mis-sold by lenders, including the banks. The policies are often added to the loan and can add thousands of pounds over the life of the loan.
Figures show that over 12 million Payment Protection Insurance (PPI) policies have been sold in the UK to millions of people, many of whom do not need or cannot use the insurance.
How to make a claim
If you have been a victim of mis-selling at the hands of unscrupulous lenders, you are entitled to claim your money back plus interest.
Getting started is easy:
We give you a call – this can take around 10-15 minutes
We send out your claim pack which you read & sign, date and return
We proceed with your claim from start to finish
When we speak to you our specialist staff will ask a few simple questions to establish whether or not you have a viable claim and will then help you to complete the official claim form with details of why you think your PPI was mis-sold to you.
To start your claim please fill in our enquiry form and one of the team will call you back at a time to suit you, or if you would like to speak to our specialist team of mis-sold PPI solicitors, you can contact them on 0161 443 2828.