The PPI mis selling scandal looks set to cost lenders in excess of £7.5bn, according to consumer group Which?.
It is estimated approximately 40 million payment protection insurance have been sold, many to customers who neither needed, nor wanted or even knew about when taking out a loan or a credit card.
There were many ways in which payment protection insurance was mis sold to customers. Some were told PPI was a compulsory product, while others were led to believe their credit agreement would be declined if they refused the policy.
The self-employed and those with a pre-existing medical condition were also frequent victims of PPI mis selling as both may not have been eligible to make a claim. In other cases, policies were simply automatically added by the lender without the knowledge or agreement of the customer.
It doesn’t cost you a thing to find out if you have a claim for a mis sold payment protection insurance policy. Simply complete our no obligation online claim form to see if you could be entitled to PPI compensation. After all, there’s no harm in finding out and, as with many things in life, if you don’t ask, you’re very unlikely to get!
PPI Return has received over £20m in PPI redress for our clients. We recently received an offer for our biggest amount to date, a whopping £143,441^ and could help you recover what may be rightly yours.