Have you borrowed money for the following reasons?

·         Mortgage

·         Personal  Loan

·         Car loan

·         Secured Loan

·         Credit cards

If you have taken out any of the loan types mentioned above the likely hood is that you may have been sold a useless payment protection policy, otherwise known as PPI.

Payment Protection Insurance enables a borrower to maintain repayments and avoid getting into debt, should they be unable to keep up their repayments due to accident, sickness or unemployment. Payment Protection Insurance can also be known as:  Accident, Sickness, Unemployment Cover; Redundancy Protection; Loan Protection and Mortgage Payment Cover.

However many times, PPI policies turn out to be completely useless and do not cover you as an individual. There are a number of reasons for this; normally when there have been exclusions within the PPI agreement at point of sale. PPI is purchased at the time the finance arrangement is made, the total amount of the PPI policy sometimes being added to the loan amount itself. This in itself has caused serious concerns within the Financial Services Authority, who regulate and control the sales of Personal Protection Insurance.

Lenders Fined For Mis-selling PPI

The Financial Services Authority has, over the last year fined a large number of high street banks and loan companies because they have grossly mis-sold PPI. Example Fines Issued by the FSA for the mis-selling of Payment Protection Insurance:

·         Alliance & Leicester              £7 Million

·         HFC/HSBC                               £1.085 Million

·         GE Capital                                 £610,000

·         Liverpool Victoria                 £840.000

·         Capital One                               £175,000

If you answer yes to any of the statements below you will have been mis-sold your payment protection insurance policy and are entitled to a full refund.

1. The PPI was added to your loan
2. The PPI was added to your credit card
3. You didn't want PPI
4. You were told that you had to have PPI
5. You were 'persuaded' to have PPI
6. You were self employed/part time/temping/on benefits/on a pension.
7. You were told that you would receive your money back.
8. You were told you had to take out PPI or you would not get the loan
9. You were told that with PPI you had a better chance of being accepted for the loan
10. You felt pressured into taking the PPI
11. You paid off your loan early and never got PPI refunded
12. You increased or topped up your loan and the PPI was added automatically

What to do Now?                                                                                         

Regardless of your Lender -You could be owed thousands of pounds in compensation due to a mis-sold PPI policy. It is currently estimated that there are 20 million PPI policies in force in the UK, producing annual revenues in excess of £5 billion, around 50% of these being mis-sold.

We can claim any money that you are entitled to plus interest in as little as 12 weeks.