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Claim back your payment protection insurance (it could be worth £2500!)

Jul 15th 2010 at 5:04 AM

Hi There!

If you took out a loan, mortgage, credit card....even car finance within the last 6 years, its likely you were sold payment protection insurance.

Between 2005 and 2008, many of the most respected and recognised lenders in the UK used high pressure and occassionally entirely corrupt selling techiniques to push consumers into taking the insurance. The most common scenarios are below and we have also included a recent article from This is Money.

Top 5 reasons for missold PPI

Consumer not aware they took PPI in the first place

Consumer not aware that the PPI they took expired before the loan

Consumer was not asked about medical health before taking PPI

Consumer made to feel that PPI would assist their credit application

PPI was added to credit agreement and interest was charged


Please visit our website to find out more about getting your money back..... (We operate a strict NO WIN, NO FEE policy)


Banks shamelessly flout rules on PPI claims

This is money article - 6th July 2010

Once again banks have been exposed flouting rules laid down by both the regulator and the Ombudsman.

More than 300,000 consumers a year are having payment protection insurance mis-selling claims rejected by banks. Most will be legitimate claims, but the banks feel it is worth rejecting as many as possible out of hand because only 16% will pursue their complaint to the Ombudsman.

Given that nine in ten complaints that go to the Ombudsman are upheld and the average payout is £3,000, the banks' refusal to obey the rules could be saving them about £700m a year.

The Financial Services Authority should keep this figure in mind when investigating how these complaints are handled and deciding what sanctions to impose.

The banks' behaviour over PPI has been reprehensible from the start. The wanton mis-selling was based on an imperative to soak the customer at any cost. Hence insurance was flogged to the unemployed, the self-employed, students and even those who were mentally incapable of making sound financial decisions.

Now the banks have a new tactic to fob off complainants. They will send a letter, typically within a month, indicating that your type of complaint is unlikely to be successful.

The chances are they have not even bothered to look at it, but they know that 84% of people won't bother to pursue the issue.

Don't be fooled. Write and complain again - and then go to the Ombudsman, who will look at your dispute without taking sides.

It is now ten months since the FSA tore into the banks for not handling PPI complaints properly. The Ombudsman has told the banks how it expects complaints to be handled.

Yet in their arrogance, the banks are choosing to ignore both, resulting in 1,000 complaints a week still reaching the Ombudsman. If the banks were playing by the rules, just a fraction of these would be upheld - instead consumers are winning in more than 90% of cases.

The FSA must act decisively and without delay to end this farce once and for all. Hefty, punishing fines are the only way to make banks listen.

And if directors or senior managers can be proved to have colluded in the mishandling of complaints, they, too, should face the toughest punishment.

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