What Is Payment Protection Insurance?
Payment Protection Insurance is meant to pay loan and credit repayments if you are unable to pay due to sickness, accident or employment difficulties. These policies are usually very expensive for the level of cover they offer and many policies have significant exemptions making it difficult for policyholders to make a valid claim.
Millions of people who have been affected by mis sold PPI policies are now making PPI claims, and you could be one of them if you pursue a claim today.
Was I Mis Sold Payment Protection Insurance?
You may have been mis sold PPI if:
- You didn’t ask for PPI, but it was added to the policy anyway
- You were told the insurance was compulsory, or that you would have a better chance of getting the loan approved if you decided to take it
- You were not aware that including PPI was optional, or that you could purchase cheaper PPI cover elsewhere
- You were unemployed, retired or self-employed when you took out the cover.
If you have a valid claim you may be eligible for PPI compensation plus the interest charged on the insurance.
I pay my PPI premiums monthly, can I still claim?
Yes, if you feel that any of the mis sold reasons applies to you then regardless of whether you have paid for your PPI in a lump sum or by monthly premiums you are still able to claim.
How Much Can I Claim?
That depends on the value of the PPI you took out. We can help you claim back not only all the premiums paid but some of the interest paid too. In some cases you might even be entitled to have any outstanding payments stopped.
My Loan Has Been Paid Off, Can I Still Claim?
Yes, if the PPI has been mis sold then you can still make a claim.
Can I Make More Than One Claim?
Yes, you can make a claim for each policy. Most people make several claims as they have had several loans & credit cards in the last few years that included PPI cover.
Will This Claim Affect My Relationship With My Lender?
No. The Financial Conduct Authority does not allow any company to disadvantage a customer because they have made a complaint.
How Much Will It Cost Me?
Nothing, unless you are successful. We operate on a No Win No Fee basis and won’t charge you a penny unless we win your Claim. If we do win your Claim our fees are 20% plus VAT and this will be payable from the amount we win.
How Long Will My Claim Take?
This all depends on the complexity of your claim. In some cases you could receive a cheque within a few weeks, however other claims can take several months. This will largely depend on your lenders attitude towards the claim. If your claim has to be referred to the Financial Ombudsman Service (FOS) or Financial Services Compensation Scheme (FSCS) these claims will take a lot longer than the norm due to the complexity of the claims. These national bodies have experienced long waiting times in recent years and therefore unfortunately this is outside of our control
Do I Need The Original Paperwork For The Policy?
No. We can get all the information we need for the claim from the lender.
How do I make a complaint if I am unhappy with the service provided by ABC Incorporation Ltd?
At ABC Incorporation Ltd we pride ourselves on our customer service and aim to ensure you receive the highest service possible. In the event any client wishes to make a complaint they can do so by following our complaints procedure. Please download a copy of our complaints procedure for more information.