If you have Payment Protection Insurance (PPI) and you intentionally signed for it, or you knew that the PPI was available to you, and you agreed to it, then yes you can certainly look at reclaiming and making a successful claim in relation to the PPI Premium charged. The mis-selling of Payment Protection Insurance has hit the news in recent years with the combined refund (up to the end of October 2015) by the various lenders standing at approximately £25billion. The mis-selling of Payment Protection Insurance is not to do with the agreement of the client taking the PPI in the first place, as all documentation that the client signed agrees to that fact, but it is the sales process attached to the payment protection insurance that has to be in question.
The best example to explain why you can make a successful claim, even though you were aware of Payment Protection Insurance on the facilities that you had, is that we represent a large number of clients who have made claims on their Payment Protection Insurance policy and still received pay-outs in relation to these claims for some sort of accident, injury or unemployment in the past. Even with this taking place, we have been able to obtain a refund for the mis-sale of the PPI. It is not to do with the actual product being placed on the account in question, but whether the Bank or Lender has undertaken the correct sales process to establish if the PPI was appropriate, was cost effective and, as a client, you were fully aware of the various terms and conditions as well as the exclusions that form part of the product.
If you have not made a claim in the past because you have been put off making the claim due to the fact that you were aware that PPI was applied to the facility, and you believed as such that you could not make a claim, then think again. You can certainly make a claim and do so on a No Win No Fee basis. Therefore, you will not have any financial consequences, unless a claim is successful. There are tens of millions of policies which still remain unclaimed and if you are not making a claim, because you do not believe it will be successful, then you must do so without delay. The Financial Conduct Authority (FCA) will be placing a time limit on claims, with that time limit being Spring 2018.
The PPI scandal is a prime example of the complete disregard that the Banks and Lenders have for their clients in the way that they conduct not only the structure of their policies (which they promote and which generate huge revenues for the Lenders) but also the way that they are promoted, albeit that they are not promoted in a way that is fair and appropriate in dealing with their clients.
We have been dealing with banking disputes for our clients for almost 20 years and as such have considerable experience in dealing with not only Payment Protection Insurance mis-selling, but many other cases of mis-selling and poor service that the Banks employ.
We work purely on a No Win No Fee basis. If we are unsuccessful, for whatever reason, there is no fee to pay. If you have not made a claim in the past, and are reluctant to do so because you believe the policy you have was sold to you correctly, or you do not have any paperwork that would assist with the locating of Payment Protection Insurance, there is no need to worry. We can locate and find the details so long as we know the names of the Lenders and you are able to provide the minimal amount of information (such as your previous address) should the lender have this on their records.