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What Is Payment Protection Insurance (PPI)?

Payment Protection Insurance (PPI), was created on the basis of helping people keep up with payments on loans and credit card bills in the case of serious illness, accidents, death or redundancy and has been mis-sold to millions of people, although there is some good news on the horizon as you may be able to make a claim for compensation. If you think you are owed compensation through mis-sold PPI then find out how to make a claim below.

Do You Know How To Claim Back PPI?

Ever had a mortgage, credit card or loan? You may have been mis-sold PPI.

Up until Recently, PPI was generally sold when you were taking out a mortgage, credit card, car finance or a loan with the basis being the PPI would cover monthly payments on the credit agreement if you became redundant from work or became ill. The problem was that the policies refused to payout when those customers need the help the most. When PPI had been sold, it wasn’t explained properly by sale staff such as those who were self employed or with existing medical conditions. Often policies were sold to those were not eligible such as those in the two groups mentions above.

Do you remember a conversation like this? There’s a chance you may have been mis-sold PPI and can make a claim.

You may have also been mis-sold PPI without ever realising it – i.e. the sales person may not have explained the policy at all when it was bought or baited you into buying PPI if you were told that you stood a better chance of receiving a loan if you bought PPI as well. Its worth checking any agreements and if you come across any of these terms:

  • Loan Care
  • ASU
  • Loan Protection
  • Protection Plan
  • Payment Cover

Even If any documents have been misplaced its still worth claiming, in the case that you may have been mis-sold PPI.

Our current partners record claim to date is £37,000, it is important tonote that they should not have been sold the products in the first place.
Claiming your money back is your right!

Ask yourself the following questions and if you answer yes to any of them then you may have a claim.

  • Have you found PPI on an account and didn’t know about it?
  • have you been advised to take out PPI when it hasn’t been needed?
  • Have you been self employed?
  • Would have been paid if you were off work ill at any time?

How Do I Make A Claim For PPI?

First things first,contact the office and one of our experts will call you back. It would be useful if you have ready:

  • Name of Lender
  • Approx Date of Loan
  • Account Details

However, don’t worry if certain information is missing as we can track this information down for you.

Get in touch with us at info@skemlaw.com and we shall arrange for a specialist to call you back with no obligation.

If you would like to find out more, complete our enquiry form above.