Missold PPI Insurance

A PPI policy helps the borrower to pay off his outstanding debts

What is the main purpose behind purchasing an PPI insurance policy? Almost everyone will agree that its main purpose is to provide financial security should an unavoidable mis happening take place in the future.

A PPI policy helps the borrower to pay off his outstanding debts like car loans, mortgage protection, credit card charges, etc., when he is not earning a living. The circumstances that may disable the borrower from earning money can be as follows, a fatal accident, death, or some lasting illness.

PPI is sold by from banks, insurance companies and other credit lenders.

• PPI is bounded with a time limit which is from 12 to 24 months.
• Payment protection insurance can be classified into various types namely, credit card protection, loan protection, and mortgage protection.
• There are certain things one must keep in mind before buying the payment protection policy
• There are many cases of mis sold PPI insurance coming out these days by consumers that are also getting attention from the media.

Have you been mis sold PPI or have you been offered PPI by a lender?

• Payment protection insurance is bounded with certain rules and regulations
• PPI selling regulations need to be followed very strictly.
• There is an age limit assigned to it, meaning persons falling under a certain age group only can claim the benefits of the policy.
• The PPI age limit is from 18 to 65 years of age.

You may not even need a PPI insurance product as you may already have one

• If you already have aPPI insurance policy to support you may have no requirement for PPI insurance policy.
• If the lender did not enquire that if you already had an insurance cover and sold you PPI anyway, then the PPI policy may have been mis sold.
• Consumers in the UK should not be rushed or pushed into buying a PPI insurance policy
• Consumers are always advised compare the market for PPI products to avoid being mis sold PPI insurance.

If you come to know that you have fallen prey to mis sold PPI insurance, then you should look into putting in a claim for PPI compensation. You can file a claim back by directly approaching the lender concerned, or can also file it through a professional PPI claims solicitor. Please note PPI claims solicitor will save time and effort and often give consumers a better chances of reclaiming a mis sold PPI insurance policy.

If you’re not sure what do to next – get in touch with us. We should be able to sort out which company is involved and pursue then for compensation.

• 'No Win - No Fee' Service and No Upfront Fees
• Expert friendly advice
• We will handle your case from start to finish

Click here to complete your PPI Claim Form