Claiming PPI compensation for mis sold policies has never been easier, but many people are still unaware of their rights. With an industry average payout of £2,750 it is a worthwhile process, and four million people are believed to have claimed so far. The scandal has affected many people in the UK, and continues to do so. You are not alone if you are unsure how to go about making a claim – or, indeed, whether you can – so let’s have a look at things in more detail and explain your rights in simple terms.
PPI – or payment protection insurance – is designed to keep up the monthly repayments on a loan or mortgage (or any form of credit agreement) to which it is aligned, in the event the policyholder is made redundant unwillingly. The sale of PPI has been governed by strict guidelines and regulations, but an investigation found that these have been overlooked on a regular basis, hence the PPI compensation scandal. To start your PPI claim today or to find out more about how to claim back PPI, simply fill out the form above or give us a call and speak with one of our advisers.
Who Can Claim PPI Compensation?
Anybody who can prove they were mis sold a policy can claim PPI compensation, and the banks have been ordered to pay. You may have been sold a policy that was of no use – perhaps you were already retired or self employed – or, as in many cases, given a PPI policy without explanation. You should also have been given a chance to check other providers for the best deal, rather than being coerced into taking the lenders own deal. All of these are examples of mis sold PPI.
How to Claim PPI Compensation
If you’re looking to claim back PPI compensation then you can either go it alone or through a claims company with expertise in this area. We offer a no win, no fee* service so you pay nothing if you are unsuccessful. To start your PPI reclaim today or to find out more about how to claim back PPI, simply fill out the form above or give us a call and speak with one of our advisers.