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

Were you mis-sold Payment Protection Insurance (PPI) along with your personal loan? Has your bank or building society disappointed you? Lots of people already have successfully lodged PPI claims against their bank or building society and you can join these people.

PPI is an insurance policy attached with loans and other financial products (like mortgages, credit cards, store cards and hire purchase agreements) that insures the insurance policy holder should they be unable to work due to accident, sickness and unemployment. The cover is contentious though, since it has often been mis-sold.

Many lenders were fined for failing to retail the products properly and, because of this a lot of people are making a PPI claim for compensation. If you got a loan in the last 10 years there exists a good possibility you have been paying PPI payments on your monthly repayments.

Lots of people are unaware that their personal loans incorporate PPI payments and it was just an optional extra. You did not have to include it but many people were entirely unaware that it was an extra and not terms linked to the personal loan or credit card. A lot of consumers were often not actually told about it, the sales rep generate commission payments and then your money may be quietly removed from you without you knowledge. Those who make an effort to claim under this kind of policy are frequently rejected due to complex terms and conditions. PPI rates can be extremely excessive and payments can also contain high interest fees when loan providers put insurance fees within the overall personal loan total.

We\’re able to try and get you back money that is rightfully yours and we can process the PPI claims without you being required to do anything after we have the required details. It could be worth thousands, and don\’t forget you could reclaim PPI even if you have previously settled your loan. We provide a no win no fee service which means that if we represent you and your PPI claim is unsuccessful, then it won\’t cost you anything.

For more advice on mis-sold Scottish Widows PPI claims or any other financial institutions and banks contact us at PPI Claims Online