If you have taken a loan or other credit agreement in the last ten years such as a mortgage, credit card, loan or store cards, you could be a victim of mis-sold PPI. The banks and lenders have lost a huge court case about payment protection insurance and how it’s been mis-sold to thousands of customers and now has to pay it all back including interest so it’s worth taking a look to see if you have been mis-sold PPI.
PPI is an abbreviation of payment protection insurance. This type of insurance is taken out alongside your credit agreement so in the slim chance you may become unwell or unemployed leaving you in difficulty in making repayments, then PPI would cover this. But what the banks and lenders do not let you know is that it’s actually rather hard to make a claim should you ever have difficulty making payments. Not only this but many people do not even know they have Payment protection insurance and could be paying up to 30% of their original loan amount on top. This is a prime example of mis-sold PPI.
If you’re unsure whether you could also be a victim of mis-sold PPI, then you will need to take a look at a statement, where it should say something along the lines of payment/credit or loan protection. If you are still unsure, you can contact your original lender who will inform you whether PPI has been put onto your agreement. Once you are aware that you doing have payment protection, think back to when you took out the credit. Do you think you were pressured into protection insurance? Did you think it was compulsory? Was it explained to you properly? If any of these questions seem familiar to you then you have a case as a victim of mis-sold PPI.
Don’t delay in starting a claim against mis-sold PPI. You could join the thousands of people who have already received thousands of pounds within weeks.