Mis-sold Payment Protection Insurance policy can still be claimed

Mis-sold Payment Protection Insurance policies are still very controversial. Many people out there that have no idea how many potential PPI claims for mis-sold Payment Protection Insurance policies they have. One of the reasons for this occurs when we are arranging a new loan, mortgage or credit card. We are asked by every finance provider to take out an insurance policy that will protect our payments to the finance provider if we are unable to work due to an accident, illness or redundancy.

Most of us consider ourselves responsible and we have accepted these policies often without understanding the terms and conditions of their issue. Often these policies were not explained to us properly and we have accepted the insurance as we believed it was a condition to getting finance.

This means that some of us we are paying Payment Protection Insurance on three or four credit cards, a loan and our mortgage. In total we could have anywhere between one and six individual claims; although some of us have more and some of us have less. You need to check your credit card statements, loan and mortgage agreements to see if you are paying for any PPI policies

Payment Protection Insurance Guide

Payment Protection Insurance Guide

The regulators, namely the FSA (Financial Services Authority) have imposed fine for the mis-selling of Payment Protection Insurance. Fines totalling 22.7 million have been imposed on financial providers for mis-selling products and Alliance and Leicester received the largest fine of 7 million pounds for mis-selling.  PPI has provided the banks, finance companies and retailers with a major source of income in the past.

Below are some of the reasons why you may have been mis-sold PPI with your loan, Mortgage or credit card Payment Protection Insurance policy. There are still hundreds of thousands of mis-sold Payment protection policies out there today


If you can answer “YES” to any of the questions below then you may be entitled to make a claim fro mis-sold Payment Protection Insurance:

  • Has your PPI provider been fined for mis-selling by the regulator, the FSA? (See the list of firms fined by the FSA above)
  • Were you self-employed, unemployed, retired or on a fixed term contract at the time your PPI policy started?
  • Was it explained to you that the PPI premium would be added to your new loan and that your new loan would attract more interest over the term of the loan?
  • Were you pressured into purchasing a PPI policy by the sales person?
  • Were you asked about or did you have a pre-existing Medical condition at the time your PPI Policy was arranged?
  • You were told that PPI was compulsory with your finance agreement?
  • Was Payment Protection Insurance sold to you without your knowledge?
  • You weren’t given full details of the insurance policy (terms & conditions)?
  • Were you told how much the provider was earning by selling this Insurance policy to you?

Was it made clear to you that buying a PPI policy was optional and that you had the right to shop around for a different policy? Or were lead to believe that you might be refused a loan or credit card if you did not take out a PPI policy?


  • You have already made a successful claim and been paid by the provider of your PPI policy.
  • Your PPI policy ended over six years ago.

How to make a successful claim for mis-sold Payment Protection Insurance (PPI)

There are many companies that are capable of handling your claim for mis-sold payment protection insurance. They will charge you around 30% of the amount of compensation that is awarded to you on completion. They will take over the claim procedure and after approximately three months they maybe able to forward you a cheque for your Payment Protection Insurance compensation award.

Alternatively, you could manage the claim for compensation yourself and keep all the money awarded to you by obtain Payment Protection Insurance guide. This would save you up to 30% of your Payment Protection Insurance compensation award. Most of us are at a loss when it comes to claiming as we lack the experience and the knowledge to do it ourselves.  We need the knowledge of “How to” make a claim and it is only by doing the hours of research that we may stand a chance of making a successful claim.

Your thoughts, experiences and comments are always welcome. You can join the discussion below by leaving your comments.

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