Payment Protection Insurance (PPI) mis-selling scandal and personal loans

Have you been mis-sold Payment Protection Insurance (PPI) along with a personal loan? Has your bank or lender disappointed you? Many people already have successfully pursued PPI claims against their loan provider while you can be one of these people.

PPI is an insurance policy connected to loans and other financial products (such as credit cards, store cards, mortgages and hire purchase agreements) that insures the policyholder should they be unable to work due to accident, sickness and unemployment. PPI cover is contentious though, the way it has commonly been mis-sold.

Financial institutions were fined for failing to retail these products correctly and, consequently many people are making a PPI claim for compensation. If you got a loan in the last 15 years there’s a fairly good chance you’ll have been paying PPI payments on your monthly installments.

Many people do not realise their personal loans incorporate PPI payments and this was just an recommended extra. You did not need to include it but some people were totally unaware that this was an extra and not terms attached to the loan or credit card. A large number of customers were frequently not even told about it, the sales rep generate commission payments and your cash might be discreetly removed from your account without you being any the wiser. Those that make an effort to claim under this type of insurance will often be rejected as a result of complex small print. PPI rates could be very excessive and repayments might also contain high interest charges when lenders include insurance fees in the overall loan total.

We’re able to try and get you back money that’s yours rightfully and we can handle the PPI claims without you being required to do anything once we possess the required details. It could be worth thousands, and don’t forget you may reclaim PPI even when you have previously paid off the loan. We offer a no win no fee service which means that if we handle your case and your PPI claim is not successful it won’t cost you a penny.

For more guidance on mis-sold Abbey PPI claims or any other bank or financial institutions visit PPI Claims Online