Claim Your Loan Insurance

Payment Protection Refunds Claims Management

If you have taken out a loan with a bank or another finance company there is a good chance that you were also sold Payment Protection Insurance, which is also known as PPI. PPI is designed to provide you with financial security should you take ill and be unable to work, or if you lose your job and are unable to keep up with your loan repayments, in which case your PPI would be able to take over for you. However, there have been countless instances of PPI being mis-sold throughout the UK.

If you believe that you have been mis-sold your PPI it might be possible to file a loan PPI claim, which we at Payment Protection Refunds can assist you with. One of the main instances of PPI being mis-sold features customers being told that they must take out PPI if their application is to be approved, which is not true.

It might also be the case that you were not informed of a cooling-off period in which you could cancel your PPI, or if the bank or finance company misled you into believing that your loan would be more expensive without PPI. If you feel as though you were forced to agree to a PPI plan, you might also be able to reclaim loan insurance.

Many of our clients have even been sold PPI when they are unemployed, self-employed or retired, which would make the loan insurance worthless, as it can only be used by those that are in employment. If you weren’t made aware of any clauses in your plan which caused it to not pay out following illness or unemployment, you might also be able to come to us for assistance in reclaiming your PPI.

Is there a deadline ?

You can complain about a product that has been sold, at any time. However, there are certain guidelines to reclaim your loan insurance, that you might find helpful:

  • The claim process is simpler if your insurance had been active in the last 6 years. If this is not the case with you, do not get discouraged, we may still be able to help you. Even if that loan has now been paid off, it will be possible for us to reclaim the insurance for you.


  • The 6-year rule is applicable to active insurance- if a policy was taken out 12-years ago and paid-off 5 years ago, it was actually still active in the key 6-year period


  • If the policy ended more than 6 years ago- Banks are not required to keep records which are more than 6 years old. But there is no official cut off period. If you still have the necessary paperwork, you might still be able to successfully reclaim your loan insurance


The unfortunate part about PPI’s is that many people were sold these without them realizing it. In certain cases, the salesperson may not have explained the PPI policy when it was sold, while in others, customers were told that they were required to take out a PPI. Some people were also told that they would have a much better chance of getting a loan if they took out a PPI.

Things to Check

It’s worth to do a thorough check on any credit card, mortgage & loan agreements. If you see any of these following terms or anything similar, there is a possibility that you have been sold PPI:

  • Protection plan
  • Payment cover
  • Loan protection
  • Loan care
  • ASU

If you believe that you might have a case for mis-sold PPI, you can contact Payment Protection Refunds today to start your claim. All you need to do is complete the short form on our site and we will be back in touch as soon as possible.

To find out if you are owed thousands of pounds in mis-sold PPI, get in touch with us today.

Loan Insurance Claim