Payment protection insurance is one of the hottest subjects in the consumer finance world, but for all the wrong reasons. Commonly known as PPI, the scandal that surrounds this product is rated as the biggest ever to have affected the UK banking industry. So far, more than four million people have put in a claim for PPI compensation and many have been successful, with an average payout of £2750, and the banks and other lenders have been forced to make available over £13billion to meet the expected total repayment level. Can you claim, and if so how do you go about it?
A Bit about PPI
PPI is not a complex subject; it is simply an insurance policy that is meant to keep up the monthly repayments on a loan, mortgage or credit agreement that it is allied to. The problem is that many such policies were sold to customers in a manner that was not within the strict regulations surrounding the sale of such products. To start your PPI compensation claim today or to find out more about claiming compensation, simply fill out the form above or give us a call for free on 0800 840 7292 and speak with one of our advisers.
Who Can Make a PPI Compensation Claim?
When your loan or mortgage was agreed your lender should have explained the facts about PPI; perhaps most importantly you should have been told you had a few days in which to seek out the best deal for you from elsewhere. Many lenders did not adhere to this rule, and led the customer to believe that they were obliged to buy the packaged PPI deal from the lender. This sort of incidence is one of the most frequently cited in PPI compensation cases, but there are others.
How Do I Get the Wheels in Motion and Claim Back PPI?
The best thing to do is get in touch with a solicitor with expertise in the PPI claims world. This will not only give you the best chance of success but it means you have a stress free route to PPI compensation. Look for a 100% compensation deal and one offering a no win, no fee package. To start your PPI claim today or to find out more about claiming compensation, simply fill out the form above or give us a call for free on 0800 840 7292 and speak with one of our advisers.