Many people have been mis-sold payment protection insurance. It is often sold by companies offering credit. You may have been mis-sold PPI if one or more of the following applies to you:
You were not given the full details of the insurance at the time you agreed to it
The company who sold you the insurance policy should have given you all the details of the insurance before you agreed to buy it. If they didn’t give you all the details this could constitute mis-selling.
Some companies have also added the cost of the insurance onto their customers price without telling the customer or told their customers that the insurance is compulsory. These are also examples of mis-selling PPI.
You have had medical problems in the past?
Many PPI policies won’t pay out for existing medical conditions. When you agreed to the policy you should have been told about this and asked about your medical history. If this wasn’t the case then you may have been mis-sold payment protection insurance.
You were unemployed, self-employed, retired or had been made redundant when you took out the policy
If you have been paying for a policy which includes unemployment cover you might be able to claim this back. When you were sold the policy you should have been asked about your employment status.
If you weren’t or if you told them and the unemployment cover is unsuitable, then you may be able to claim the PPI premiums back.
Your PPI was a ‘single premium’ loan policy and you left or changed the credit agreement part way through
A ‘single premium’ policy is one where the full premium for the PPI was worked out and added to the amount you were borrowing at the beginning, to be paid back with the rest of the credit. If you then left or changed the credit agreement before it was due to finish you should have been refunded the premiums for the remainder of the payment protection insurance which you would no longer need.
Your PPI provider has already been fined for mis-selling
Many companies are being fined for the systematic mis-selling of PPI, if the provider of your PPI has been fined it’s likely you have a case.
If any of the above circumstances apply to you fill in the form on our financial mis-selling page and we will help you reclaim what you’re owed.