Payment Protection Insurance Policies (PPI) were mainly taken out at the point of sale when a Loan, Credit Card or Mortgage was sold. These policies were designed to cover the monthly payments of the financial product if you were off sick, made redundant or couldnt work through an accident.

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. 
The problem with these PPI Policies is that they were a blanket cure all type of Policy that actually didnt the majority of peoples needs. In many cases PPI Policies were sold to customers that would never be able to make a claim due to their circumstances e.g. if they were:- self employed, retired, unemployed etc.. Another aspect of these PPi Policies was that certain medical conditions such as Bad Backs and Stress were not covered which are the two main reasons for people not being able to work.

Some of the major banks have already been fined for mis-selling and had to pay customers PPI Compensation
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. and these customers are due PPI Compensation.

Some instances of mis-selling include and where PPI Compensation is due
• The lender said that the PPI Policy was a condition of geting the Loan or Credit Card.

• The true full cost of the Policy was not shown to you. I.E that you were going to be paying compound Interest on the Policy throughout the term of the loan. 

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.


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.