There has been a huge increase in the number of new staff employed by high street lenders following the aftermath of the payment protection insurance controversy.
Of all newly appointed claims handlers 60 per cent were required to work in PPI compensation scheme departments.
Payment protection insurance was mis sold to millions of customers with common mis selling techniques including:
- Telling the customer the policy was compulsory
- Selling PPI to someone who was self-employed, retired or unemployed
- Implying a PPI policy would improve the chances of the loan or credit card being approved
- Selling PPI to someone with an pre-existing medical condition
- Automatically adding the policy to the credit agreement without the customer’s knowledge or consent.
If you have taken out a loan or a credit card in the last 10 years, you may have been mis sold payment protection insurance and could be entitled to compensation. To find out, simply complete our no obligation online claim form.