Have you been mis-sold Payment Protection Insurance

PPI (Payment Protection Insurance) policies were designed to cover the cost of loan repayments in the event that you were off sick or became unemployed. They were mainly taken out with loans, mortgages and credit cards.

The major problem with PPI is that most people who were sold the policy didn't really need the cover and in many cases the policies were sold to people who could never qualify for a claim anyway,eg retired, self-employed, unemployed etc. Also bad backs and stress " the main two reasons for being off work " are usually always excluded from the contract.

Some of the major banks have already been fined for mis-selling.
It is estimated that over £10 Billion of policies have been sold and as many as 30
million policy holders may have a claim for compensation.

Statistics indicate that as many as 8 out of 10 of these policies may have been sold incorrectly.

Some instances of mis-selling include
• You were told you had to take out PPI in order to get the loan or product.
• You were pressured into buying PPI.
• You were not informed you could buy PPI from an independent Provider 80% cheaper.
• You were NOT told about any exclusion’s.
• You were not asked whether you already had sufficient Insurance cover.

What can Payment Protection Refunds do for you?
Payment Protection refunds will establish whether or not you have a valid claim for compensation.

We will sumbit the matter to our legal team, who on acceptance of the claim, will complete a thorough investigation and handle the process all the way through to a conclusion.

The involvement of our solicitors on claims where the premium for the Insurance ( PPI ) was added to the loan will mean that they will be seeking settlement on the basis of , The Lump sum involved, Compound Interest and the refund of any secret or hidden commissions.

Secret / Hidden Commissions
Many of the loan providers will have paid commissions to the introducers of your business when you set up your loan. The Secret commissions are rarely shown on the loan agreement.

Our legal team will investigate this aspect of your claim and when we have established that hidden commissions were applied to your loan we will seek to recover the capitol plus the interest.

Interest
We do not settle for the 8% statuatory interest rate that could be offered by the loan providers prior to settlement and which is widely used throughout the industry.
It is Payment Protection Refunds intention to ensure that the "repayment of compound interest" is based on similar rates to those that were applied by the loan provider.

If you wish to make a claim, complete the Start Your Claim form and submit and then you will have the option to either download the necessary documents or you can request that we post them out to you. On their return we will proceed with the first stage of your complaint..

If you are unsure whether you have a claim call us free on 0800 0437 087 to discuss with one of our claim handlers.