PPI stands for Payment Protection Insurance and is an insurance policy that has been sold alongside loans, credit cards, car finance and mortgages.
In simple terms it is an insurance policy that loan and finance companies offered customers to cover themselves should they not be able to keep up repayments due to injury, illness or unemployment.
There are many reasons that you may be able to make a claim against a suspected mis-sold PPI policy and can include:
Lets look at the reasons and questions you may have regarding your concerns about a suspected mis-sold PPI Policy in more detail.
Nearly all the major banks, lenders and finance houses in the UK have issued PPI refunds, claims companies have recorded successful claims against most lenders.
An important point to remember:
It was common place with all banks, lenders, credit card providers, brokers and car finance companies to sell PPI Policies against loan or credit agreements, so don’t ignore any of your past lenders as they may have mis-sold you a PPI Policy.