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What is PPI and How was it Mis-sold?

What is Payment Protection Insurance?

Payment protection insurance (PPI) is a type of insurance intended to help borrowers meet repayments, in case of sickness, unemployment or any other circumstances that would leave them unable to pay.

It tends to be offered alongside many financial agreements, such as credit cards, loans, and mortgages. While there is nothing inherently wrong with PPI, it was mis-sold by banks and lenders on a mass scale over the last few decades, with over 60 million policies sold from 1990 onwards.

Millions of people purchased PPI without knowing they had done so, leaving many entitled to compensation – provided they could prove that the PPI was indeed mis-sold to them.

Consequently, it is widely recognised as the largest financial scandal ever in the UK, with customers reclaiming more than £30bn in total so far. Currently at £44bn this figure is widely expected to rise to somewhere between £50 – £100bn by the time this scandal finally ends.

Financial Products sold with PPI

You might have had PPI sold to you if you’ve taken out or used loan or credit products, such as:

  • loan – this includes personal loans and business loans
  • credit card
  • store card – this is usually from a high street store (find out more about store cards below)
  • mortgage
  • a secured loan on your home in addition to your mortgage
  • a bank overdraft facility
  • car finance or something else bought on credit, such as a sofa – this may have been called a ‘finance agreement’ or ‘hire purchase’
  • home shopping account including catalogue accounts

How PPI was mis-sold to consumers

  • PPI being added to a finance agreement without the customer’s knowledge or consent
  • Lenders pressurising customers into taking out PPI on their loan, mortgage or credit card – claiming it is compulsory when in fact it is optional
  • Lenders failing to explain the costs of PPI
  • PPI policies that do not cover the full amount of a loan or the full repayment period
  • Policies that do not cover the self-employed

To Start Mortgage PPI Claim

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PPI Claims for Deceased Persons

Deceased Persons

If a PPI policyholder is deceased, any money owed to them becomes part of their estate, so whoever inherits the estate is entitled to make a PPI reclaim. This can be done by an executor or the person appointed to carry out their wishes after death. We automatically assume that reclaiming mis-sold Payment Protection Insurance (PPI) for deceased parents and grandparents may not be possible due to the passage of time.

However, the truth of the matter is it is quite straight forward to make a successful claim for mis-sold PPI for someone who is deceased.

To reclaim mis-sold PPI start with a FREE PPI check** with us today.


Had any type of credit finance with Barclays, LLoyds, RBS, Yorkshire Bank, Tesco, HBOS, MBNA or Halifax between 1988 - 2014?

We Can Find Out If You Had PPI and Claim It Back For You.

Free PPI Check** Service Multiple Accounts Checked No Upfront Fees


Armed Forces Personnel & PPI

Armed Forces PPI

Armed forces personnel have cover for sickness, accident & unemployment built into their salaries. This protection means that if a member of the armed forces was unable to work due to one of these reasons, they would still be able to meet any mortgage, loan or credit card repayments they had. So any PPI insurance policies would NOT have been appropriate. To find out if you can reclaim for mis-sold PPI, start a FREE PPI check** with us today.

UK Expats & Non-British Nationals

Expat PPI Claim

Did you have a loan, credit card or mortgage in the UK between 1988 and 2014? As a British Expat or Non-UK National who has lived in the UK for a long period, it is likely that finances were arranged while you were a resident in Britain. This may include loans, mortgages or credit cards and, even though you are no longer living in the country you can still claim mis-sold PPI. You could be eligible to claim for mis-sold PPI!

Public Sector Workers PPI Claim

Public Sector PPI

For many public sector workers, the Payment Protection Insurance (PPI) they were sold was useless. However, for some of these workers it would not have been useless, depending on the policy type and cover it provided them with.

If you had PPI and it provided you with extra cover that hadn’t been included in your employment contract, then it may have been useful for you.

Business PPI Check and Claims

Business PPI Claims - Mis-sold Payment Protection Insurance

Business PPI - Like most consumer PPI policies, business PPI also know as commercial PPI was sold alongside secured and unsecured loans, overdrafts, credit cards and mortgages. Business Loan Repayment Insurance is a type of insurance policy sold alongside commercial loans, including Fixed Rate Loans, Variable Rate Loans and Treasury Loans. If you had a commercial or business loan between 1988 and 2014 you may be eligible for a PPI refund. Start a Free Business PPI Check and find out if you have mis-sold PPI to reclaim.