PPI is insurance that will pay out a sum of money to help you continue your monthly payments on credit if you experience a loss of income due to sickness, accident or unemployment. However, PPI has proven useless and inappropriate for the majority of borrowers who have been paying out for insurance premiums that aren’t fit for purpose, and for that reason you can claim back any premiums you’ve paid, together with compensation.

Claiming won’t affect your credit rating, and if we can’t get you a refund, we won’t charge you a penny. Join our campaign today to demand fair treatment from lenders in returning money that rightfully belongs to the consumer.

 

Total cost with interest of PPI not explained

When PPI is taken out with a loan, the cost is rolled into the credit and with the additional interest added on, it will have cost you considerably more than if you’d taken out a policy independently. If you weren’t informed of the true cost of the insurance, or in fact if it wasn’t properly explained that you were buying it at all, then you were mis-sold PPI and could reclaim the cost and earn some compensation.

Read more

PPI cover not explained in relation to your work contract

If at the time of the loan you were working less than 16 hours on a temporary or contract basis, or aware that you would imminently be made unemployed then your policy would not have covered you. If the lender did not enquire and verify your employment circumstances, and make you aware of the impact of your work status on the validity of your insurance, then you were mis-sold PPI and could reclaim the cost and earn some compensation.

Read more

Existing illness not covered by PPI

PPI does not cover individuals with ongoing or chronic conditions such as stress or backache. If you had an existing illness when you took out the policy, then if you had ever tried to make a claim then you would have found out at the policy did not cover you. If the lender did not inform you of this situation, or enquire whether you were suffering from any such complaints at the time, then you were mis-sold PPU and could reclaim the cost and earn some compensation.

Read more

PPI not disclosed as optional

If you were told at the time of taking out the credit that you would not receive the loan unless you also took out Payment Protection Insurance, you were mis-sold the policy. Although PPI is advisable, it is by no means compulsory to receive credit. There are also other ways – often much cheaper - to take out a PPI policy which is completely separate to your loan. If they told you that you needed to sign on the dotted line for PPI in order to get your credit, you were definitely mis-sold PPI and could reclaim the cost and earn some compensation.

Read more

You already had sufficient cover in place

If your provider explained what Payment Protection Insurance was, but didn’t make you aware that you may already be covered by an alternative policy, or inform you of your right to look elsewhere, you were mis-sold the policy. If you weren’t made aware that you had options, then you were mis-sold the PPI on your credit and could reclaim the cost and earn some compensation.

Read more