We recently came across a site that handles ppi claims on behalf of people in the UK who have taken out a loan or a credit card throughout the last several years. PPI stands for payment protection insurance and is a kind of policy designed to protect the borrower if they are unable to continue work due to accident or illness.
The problem with this type of insurance was that it was routinely mis sold, meaning that anyone has been mis sold payment protection insurance can now claim back PPI premiums that they have paid into the policy. Compensation payouts are usually quite large and depend on the type of policy that you have and how long you have paid into the policy.
If you have taken out one of these policies then it is worth investigating whether you have a claim and thus whether you are entitled to claim compensation from the lender who sold you the policy. Apparently, millions of these policies have been wrongly sold because they were not suitable for the person taking out the loan or credit card.
In many instances, the customer wasn’t even aware that they were taking out PPI, or if they were, they weren’t told about the cost or any exclusion clauses which may affect them. If this all sounds familiar to you it would be very worthwhile putting in a claim. You could use a ppi claims management company to do the job for you, and as many of them don’t charge an upfront fee you’d have nothing to lose if the claim was unsuccessful.
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