Find out more about claiming back mis-sold payment protection insurance on loans, mortgages and credit cards.
The Competition Commission has recently published a final order which seeks to introduce competition into the payment protection insurance market. The point-of-sale prohibition won’t come into effect until 06 April 2012. It will prevent lenders from selling PPI at the same time as loans and other financial products. Lenders looking to sell PPI will have [...]
Payment protection insurance or PPI is a type of insurance coverage to protect an outstanding loan or credit card. This is often sold by banks along with the credit products they sell. The main purpose of this is to insure the debt of the borrower in case of sickness, accident tor unemployment. This is fine [...]
There is nothing inherently wrong with payment protection insurance. The issue we have is the way in which it was mis-sold to consumers. Some people rely on payment protection to cover them if they are unable to work due to accident, sickness or unemployment. However, many people are ineligible to claim on the policy, perhaps [...]
The best way to figure out whether or not you have taken out payment protection insurance (ppi) is to check your credit agreement. It should be stated on the agreement as a separate cost. In the case of credit cards, if you have an outstanding balance, it will usually show on your monthly statements. Many [...]
PPI stands for payment protection insurance and is an insurance policy specifically created to help you keep up with your loan or credit card repayments in case you find yourself unable to work due to accident, sickness or unemployment. If you have taken out PPI, there is a chance it may have been mis-sold to [...]
Following on from the banks’ decision to challenge the new FSA measures regarding the treatment of ppi claims, Lloyds TSB Banking Group has taken the decision to put all ppi claims on hold. Here at Simplicity Claims, we are currently reviewing existing cases and establishing a new procedure for dealing with new claims where the [...]
You have probably seen the news on the television, the internet as well as numerous print sources in regards to the fiasco regarding payment protection insurance and all the consumers who are claiming back PPI repayments and fees. This has been an ongoing situation for the past several years throughout the UK. As a consumer [...]
Some may ask if payment protection insurance is worth its monthly fees. Naturally, this would depend on many different factors of the actual insurance itself, as well as the particular circumstances of the policy holder. The actual notion of PPI in itself is that yes it would be worth it, however, over recent years, and [...]
Many people contact us to enquire whether they can claim back mis-sold payment protection insurance (PPI). There is no straightforward “yes” or “no” answer to this question as it depends upon the individual’s own circumstances. Common reasons for PPI mis-selling include: The lender not disclosing the full cost of the policy Being told that you [...]
If you have taken out a loan, mortgage or credit card and the lender also advised you to take out PPI, you can reclaim these premiums if you feel that the policy was mis-sold to you. To establish whether PPI was suitable for your needs, if you can answer “yes” to any of the following [...]