Mis-sold Payment Protection Insurance
Payment protection insurance or PPI has become notorious in the last few years after investigations by the Office of Fair Trading and the Financial Services Authority revealed the cover may have been widely mis-sold. Since the investigations, in 2006, more than 1.5 million customers have made complaints regarding mis-sold payment protection insurance. This figure may sound huge, but when it is considered there are more than 20 million active policies in the UK the figure could continue to rise for many years to come.
In terms of what constitutes mis-sold payment protection insurance, it is quite a broad term. If you answer ‘yes’ to any of the questions below then it is quite likely you may have been mis-sold cover.
Did the salesperson tell you, you had to have the cover or that it would improve your chances of being give the loan or credit?
Did the salesperson put you under undue pressure to take out the cover?
Were you sold the cover without the terms and conditions being made clear?
Were you sold the cover without the full costs being explained?
Were you suffering from a pre-existing medical condition?
Were you unemployed, retired or in full time education?
Were you employed by the civil service or a serving member or the armed forces?
Did you have cover in place elsewhere?
Was the cover added without your consent or knowledge?
If you believe you have been mis-sold payment protection insurance, you have the right to make a complaint and you could be awarded thousands of pounds in compensation. Remember, you may have been mis-sold cover on a mortgage, loan or credit card and you can make a claim even if your agreement has been paid off. To start your claim, simply complete our quick claim form and we will send you out a claim pack in the post. Should you have any questions call a member of our claims team on 0207 471 2000.