How to Make Claims for the Mis-Sold PPI

The Payment Protection Insurance or PPI was a well-meaning policy that was designed to protect on your regular payments for loans and credit cards in case you face certain life difficulties that wipe out your income such as an accident, illness or even loss of employment. However, this policy was mis-sold to millions of people by banks and building societies. In many cases, these sales were made by over-enthusiastic sales staff who might have used unethical tactics such as misinformation in order to get as many sign-ups possible. But it is to claim back PPI at who are expert solicitors providing reliable PPI claims services.

The PPI Compensation that You Claim

You could claim back PPI at that is valued at as much £3,000 or more depending on how much premium that you had paid to the financial institutions. The £3,000 is generally the average PPI payout that users are receiving as loan compensation. Depending on the individual payments made, it could be less or it could be more. There is more incentive on why you should file the PPI compensation claims. Over 85% of the claims that have been filed so far have been successful so there is a very high probability that you are also going to be successful with your claims applications.

There are lots of ways to find out if you were a victim of the PPI mis-selling and thus eligible for compensation. For example, if you had a loan, a mortgage or credit card, there is a higher probability that you were sold the PPI. The Private Protection Insurance was typically sold at the time you took these financial services and it was sold as a security that would cover your monthly payments if you were to be in a position where you were unable to make the repayments. The policies were, however, not explained by the sales staff and they didn’t even pay out when people fell into circumstances for which they had taken the insurance in the first place. People who are self-employed or those who have pre-existing conditions were sold PPI cover even if they were not eligible. As a result, many ended up with worthless cover which they did not really need.

In some cases, people were not even aware that they were being mis-sold the PPI or they were told it was necessary for them to get the financial services for which they had applied, but this was not really the case. A salesperson would tell you that you stood a better chance of taking a loan if you also took the PPI. If you were a victim of such as mis-selling you can now claim back PPI at which will assist you with the claims compensation process with your respective financial institution.

Pour through your past loans, mortgages or credit card agreements and look for the following terms: ASU, loan care, payment cover, protection plan or even loan protection. But you should not give up if you cannot find the vital documents that you use to take out a loan or mortgage.  Banks have a six-year statute of limitation within which they are supposed to store this information. You can claim back PPI at for additional assistance in the claims management in case you are having an issue locating information about your past loan, credit card or mortgage applications that you could use in the claims process.

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