What is PPI?

Payment Protection Insurance (PPI), was designed to make your monthly repayments on your mortgages, loans, hire purchase agreements, car finance, credit card or store cards in the event that you were unable to work due to accident, sickness or redundancy.

Many PPI policies were inappropriate for borrowers, with various exclusions written into the policy which rendered it useless in a huge number of cases.

Millions of people may still completely unaware that they have been mis-sold PPI.

A short guide to PPI

It’s been in the news for a while now but one of the main questions we get asked is ‘what is PPI?’.

Almost all banks and lenders sold PPI and tens of millions of polices were sold.

So, if you took out any form of credit between the early 1980s until as recently as 2013, whether it’s settled or still active, you cold be owed compensation.

Compensation and refunds relating to mis-sold PPI was initially estimated to reach £25 billion, although we have always believed the final bill will be much higher.

How was PPI Sold?

PPI policies were often sold by lenders as part of the deal when you took out credit with them.

These policies were often sold to customers who did not need, want or ask for them.

Indeed, many customers may not even know that they have been sold a PPI policy with their credit agreement.

The vast majority of firms selling PPI did not…

• Make it clear that the PPI was optional.
• Offer cancellation refunds when PPI was stopped.
• Give clear information about the PPI product and what it would cost.
• Tell their customers what they were and were not covered for.

Have you had PPI?

PPI was sold on all forms of credit, such as mortgages, loans, car finance, hire purchase agreements, credit cards and store cards.

Not sure whether you’ve been sold PPI?

Our fast and comprehensive checking systems that have been set up with almost all banks allows us to find out whether you’ve been one of the millions who have had PPI.

Not sure whether you qualify? Check here to see whether you may.

Want to know how much you may be owed? Why not try our PPI calculator.

Making a PPI Claim

If you took out any form of credit, whether it’s still active or not, between the early 1980s until as recently as 2013 there’s every chance you’ll have been paying for PPI.

We’ve made claiming easy, taking the stress out of you having to deal with the paperwork, the stress, and the tactics employed by the banks to try and wriggle out of paying.

So…how do you start your claim?

Option #1: Fill in the ‘Start Your Claim’ form on this page. We’ll send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we provide, we’ll make a start on your PPI claim.

Option #2: Click the ‘Download Claim Pack’ button. Simply print out the form, complete it and send it back to us. Our address and email address can be found here.

Our experts are on hand to answer any questions you have via telephone, email or our live chat facility.

what is ppi