What Is PPI?

Payment Protection Insurance (PPI) is a type of insurance cover designed to protect consumers in the event that they are unable to keep up with repayments on their debts.

Policies were added to credit such as personal loans, credit and store cards, car finance and mortgages.

There are moves, stimulated by intense lobbying from the banks and other financial institutions, to impose a time-bar on PPI claims – essentially meaning that it is likely that consumers will have little more than two more years to initiate a claim to seek to get back the money they are rightfully owed. This is still the subject of discussion, but it seems clear that this will almost certainly mean that by mid-2019 new claims will be virtually impossible to start – so consumers are being denied the opportunity after that time to get back their own money. We don’t agree that this is the right way to deal with this issue, but, we have to work within the rules and we have looked at how we operate.

We believe that there are still millions of mis-sold PPI policies out there amongst the general public for which no claim has yet been made. As a business, we want to ensure that we do everything we possibly can to ensure that we mitigate the effects of any time bar by helping customers claim back their mis-sold PPI before it is too late.

Why Claim?

In principle the product was a good thing, if people fell behind with their repayments due to a sudden loss of income, as a result of not working due to illness, accident or unemployment, the insurance policy would meet the repayments for the customer.

But the product was widely mis-sold to millions of people across the UK, resulting in one of the biggest banking scandals of all time. Banks and lenders have so far set aside more than £22 billion to compensate people who were mis-sold policies and the bill is still expected to rise.

Who Can Claim?

By answering yes to any of our quick questions below you too may be one of the millions of people who were mis-sold the product.

  • Were you pressured into taking out PPI?
  • Was payment protection added to your agreement without your knowledge?
  • Did your lender fail to fully explain the costs of PPI to you?
  • Did you have a pre-existing medical condition when taking out your policy?
  • Were you self-employed, retired, unemployed or in part-time work at the time of the sale?
  • Were any periods of time during your financial agreement excluded from your cover?

What Next?

If you think you have been mis-sold PPI, it’s your right to complain. You can choose to pursue your claim independently or alternatively employ the services of a Claims Management Company like We Fight Any Claim.

We pursue claims directly with banks and lenders on behalf of our customers and if necessary we will escalate your complaint to the Financial Ombudsman Service. Typically the claims process takes around 5 months, although individual claims can take longer or shorter depending on individual circumstances.

Who We Deal With

If your bank isn’t on the list above… fear not…

We deal with many more financial industry organisations around the UK. So complete the quick form and we’ll call you back to discuss your possible claim.