PPI Claims

There has been a great deal of press comment regarding the PPI Claims saga, but are you aware of what it is all about? Many people have already made successful claims for compensation but there are many more still who are not sure that they can claim. As a result you may be missing out on a windfall that is rightfully yours! As we know it can be a complex issue for the layman to understand we have tried to explain all in as simple a manner as possible, so read on if you think you might be able to claim.

What are PPI Claims?

Put simply, payment protection insurance – PPI – is a term that covers a variety of insurance packages intended to help those who have loans or mortgages. The policy will pay your monthly repayment fees in the event you are made redundant through no fault of your own. Most policies cover the holder for one year, some for two, but the PPI claims scandal has come about thanks to a number of complaints regarding the mis-selling of policies. An investigation uncovered surprisingly widespread instances of mis-sold PPI, and as a result many thousands of people have been able to make a PPI claim and get back the money spent on these policies.

How Do I know if I can make PPI Claims?

When you took out your loan, mortgage or credit agreement you will have been offered a PPI policy, but you should have been informed that you had the right to look for your own, cheaper policy elsewhere. Many lenders were found to have overlooked this and inferred that the borrower was liable to take out the lenders policy in order to get the loan. If this happened to you, you are entitled to make PPI claims for the money you have spent on that policy.

How to make PPI Claims

If you believe you have been mis-sold a policy you can make payment protection insurance claims for compensation, and you should contact a solicitor with expertise in that area of the law. This will not only give you the best chance of success, but will also bring you the peace of mind that having a professional on board provides. Look for a no win no fee deal and you will only be invoiced for their services in the event you are successful, so why not get your case underway right away, and claim back what is rightfully yours?