Frequently Asked Questions
What is PPI?
PPI is insurance (Payment Protection Insurance) which is sold by banks and loan companies alongside their financial products. It’s designed to protect your monthly payments if you are unable to work due to an accident, illness, unemployment or even death.
Why can I claim back these payments?
The Financial Conduct Authority (FCA) has fined a number of high street banks and lenders over the mis-selling of Payment Protection Insurance. This means that if you have taken out a financial product or service which had P.P.I. included there is a good chance you could get all your money back.
MOST COMMONLY PEOPLE ARE TOLD THAT PPI IS COMPULSARY OR THEY STAND A BETTER CHANCE OF GETTING THAT FINANCIAL PRODUCT OR SERVICE IF THEY TAKE INSURANCE. PERHAPS YOU WERE RETIRED OR SELF EMPLOYED OR HAD A PRE-EXISTING ILLNESS OR MEDICAL CONDITION THAT MAKES THE INSURANCE VOID.
I’m not sure if I had PPI with my loan?
The majority of loans taken out in the last 10 years included some form of PPI. It’s also known as Personal Loan Protection (P.L.P.), Mortgage Payment Protection Insurance (M.P.P.I.), Accident Sickness and Unemployment Cover (A.S.U.), Life & Accident, Sickness and Unemployment Cover (Life and A.S.U.), or Credit Card Repayment Protection (C.C.R.P.)
Can I make more than one claim?
Of course! Many people make multiple claims as they have had several financial products that included PPI cover.
How much will it cost me?
We work on a NO WIN NO FEE basis and won’t charge you a penny unless we win your Claim.However, a fee may become payable if the case is not pursued at the clients request outside of the 14 cooling off period. If we do win your Claim our fees are 25% plus VAT and this is payable from the amount we win. We will NEVER ask you for money upfront.
When will I get my money?
This all depends on the complexity of your Claim. In some cases the turnaround is very fast and you could have a cheque in as little as 4 weeks, however other Claims can take several months.
Is my personal information safe?
Your data is completely safe. We are registered with the Information Commissioner's Office and are fully compliant with the Data Protection Act. Your personal information is only ever used in connection with reclaiming your charges. We will not share your information with any third parties.
Will this affect my credit rating?
No. Claiming a refund of your PPI has no impact on your credit file.
What do I have to do?
You will need to complete the online application form. We will then pursue your Claim on your behalf. The more information you can provide us with the faster your claim is processed.
My loan has been paid off, can I still claim?
Absolutely - even if your loan has been paid off you can still make a claim.