If you took out a loan or credit card in the past 10 years you could be owed £1000’s of pounds in mis-sold PPI payments. Many people, even those who didn’t even know they had taken out Payment Protection Insurance have been paying out unnecessarily and are owed money back.
Britain’s banks have been under scrutiny since it was uncovered that they put pressure on their staff to sell PPI (Payment Protection Insurance) to any customer taking out a loan or credit card. This pressure led to mis-sold PPI where staff often sold PPI to customers who did not want or need PPI, and in some cases did not know they were paying for Payment Protection Insurance. Over the years these payments to mis-sold PPI policies added up to thousands and thousands of pounds.
Thousands claimed back from Mis sold PPI
In 2009 and 2010 89% of Mis sold PPI claims were ruled in the consumer’s favour meaning the Banks and financial Institutions have had to pay back thousands.
If you took out a loan and have been regularly paying it back then check the details and the policy to see if you have been paying PPI, if are paying into a policy and did not know you were then this could be mis sold PPI.
There are strict regulations when selling insurance policies and the consumer should understand fully what it is they are signing up for. Many people such as retired people or anyone that is self-employed are not covered by PPI therefore if they were then sold Payment protection Insurance then this was mis sold PPI.
Customers who were mis sold PPI are not only eligible to claim back the PPI payments but also interest on these payments, therefore a lump sum is often paid out.
If you think you have been mis sold PPI then get in touch with Canary Claims today and you could join our many happy customers who have reclaimed thousands of pounds in PPI repayments.