PPI Refund

PPI Refund Defined

First, PPI stands for Payment Protection Insurance. PPI cover policies are sold to protect the borrower's ability to repay loan or credit payments on time if they are unable to work due to qualifying circumstances.

Whilst PPI covers won't pay instalments owed to persons or quick loan organisations, they do cover payments on loans and credit cards and other financial lending obligations, such as car loans. Some PPI covers even allow qualifying store card payments.

Regardless of the reason for the loan or credit, PPI covers start only when the covered person is unable to work due to illness, injury, accident or redundancy unemployment - situations beyond the person's influence or control.

Most PPI covers extend only 12 months, although some speciality covers can extend as far as five years into the life of the loan or credit period.

Whether you know it as Payment Protection Insurance, as Accident, Sickness and Unemployment cover, Credit Protection Insurance or Loan Repayment Insurance, PPI covers were grossly mis-sold during the last 10 years. If you obtained financing, signed a loan contract or applied for credit during the last decade, you might well qualify for a claim back on mis-sold PPI cover.

That reimbursement is called a PPI Refund - money back on mis-sold PPI covers.

Who Mis-Sold PPI?

People in many job descriptions mis-sold PPI and did so for a variety of reasons. Bank sales staff, credit card providers, telemarketers, loan companies and other finance companies mis-sold PPI covers, according to the Financial Services Authority. Millions of people purchased PPI covers under misleading, threatening or misinformed conditions.

Why was PPI Cover Mis-Sold?

Sellers were either inadequately trained, deliberately mislead or mistakenly misinformed consumers just like you into purchasing PPI covers that weren't needed, didn't qualify or other unfair circumstances.

It's time to get your money back: If you believe you qualify for a mis-sold PPI claim, don't wait any longer. Apply online today or call the dedicated experts at PPIClaims.org.uk, and we'll assess your situation.

Who is Eligible for a PPI Refund?

Unlike some programmes, you don't have to qualify under all possible circumstances. If any single condition of the qualifying list exists or existed, you may be entitled to a PPI refund.

Were You Told You Must Purchase PPI?

If you were told, in any terms or manner, that you must purchase PPI from somewhere, or that it would influence your loan application or that you must purchase from strictly the lender or credit issuer, you qualify for a mis-sold PPI claim.

Did You Already Have Cover?

If you already had insurance that covered bill payment whilst you were incapacitated and unable to work, but either no one told you that you didn't need it or that you still had to purchase it, you may qualify for a PPI refund.

Were You Told You Must Purchase PPI?

PPI cover is entirely voluntary. Purchasing or not purchasing a PPI cover from anyone cannot influence a loan or credit application in any way. Its purchase cannot be hidden in fine print. It cannot be compulsory for lower interest rates than for which you would otherwise qualify.

If you were told in any way by anyone that you must purchase PPI or must purchase from the lender, or your application might be denied, your claim might qualify for a PPI refund.

Were the PPI Coverage Term and Loan Term Mismatched?

If you thought you were purchasing PPI cover for the life of a loan, but it didn't extend that far, and no one told you, you may qualify for a PPI refund.

If you purchased Single Premium PPI and were told that you could not cancel it, you might file a claim for a mis-sold PPI refund.

If you were told the loan must be reconfigured if you cancelled a PPI cover, you might qualify for a PPI refund as well.

Do You Have a Joint-Liability Loan but Single Coverage?

If more than one person is legally liable for repayment of a loan or credit card, but the purchased PPI covers only one of those people, you might qualify to file a mis-sold PPI refund claim.

If no one told you only one person was covered under the PPI, you might also qualify for a refund claim of mis-sold PPI.

Did You Have a Disqualifying Status?

If you were self-employed and responsible for your own employment status at the time you purchased PPI, your claim for a PPI refund may well be approved.

If you were unemployed at the time you purchased, knowingly or unknowingly, PPI cover, you could qualify for a mis-sold PPI refund.

If you were a student or retired at the time you purchased a PPI cover, you could qualify for a refund on your mis-sold PPI.

If either no one screened your employment status or said your known status didn't matter, you could qualify for a PPI refund as well.

What Do You Do to Claim a PPI Refund?

-- If you didn't know you were purchasing PPI cover,

-- If you were told PPI cover was required or would influence your loan or credit application,

-- If you didn't know it was optional or that you could purchase cheaper PPI cover elsewhere, or

-- If no one explained the policy restrictions to you or if no one answered your questions,

...Don't hesitate any longer! You could be missing out on thousands of pounds in unfair charges and mis-sold PPI refunds. Apply online right now!

If you have any questions regarding mis-sold PPI claims or are unsure if you qualify, contact us immediately at 0800 542 5646, and one of our highly-qualified, experienced PPI claims specialists will answer your questions and assess your qualification for a PPI refund claim.

Once we have your information, we start working to get you the PPI refund you deserve!