Why can I claim?
The Financial Services Authority (F.S.A.) has recently fined a number of high street banks and lenders over the mis-selling of Payment Protection Insurance (PPI). This means that if you have taken out a loan which had PPI included there is a good chance you could get all your money back.
How far back can I claim?
If you have taken out a Mortgage, Loan, Credit Card or Car Finance in the last 10 years, there's a good chance you've been mis-sold PPI, even if you've remortgaged, paid the debt off and even if you have defaulted we have a solution for you.
- Your policy started in the last six years – It doesn't matter if you're still using it or not, you can make a claim.
- Your policy started over six years ago – If you're either still paying it back or it ended within the last six years, you can make a claim.
- Your policy ended over six years ago – Banks only have to keep the last six years paperwork, but if you have the loan agreement, you can make a claim.
What can you claim back for me?
All PPI premiums actually paid plus a write off of premiums yet to be paid. In addition we are able to claim interest on any premiums you have already paid; in many cases this will significantly increase your claim.
What do I need to provide you with?
Simply sign the documents where indicated, provide the original credit agreement (s) and send everything back to us in the freepost envelope provided. If we have to write to your lender to request a copy of your loan agreement, this will delay processing your claim as lenders take on average 40 days to return these documents.
How long does it take?
Obtaining original signed copies of your loan agreement with your lender can be legally delayed by your lender for up to 4 weeks, which is why if you can send your original agreement with your pack this will speed up the processing of your claim. From the point of receipt of your loan agreement the legal procedure involved will normally take from 12-16 weeks.
How much does it cost to claim back PPI?
For us to intially assess your claim for mis-sold Payment Protection Insurance (PPI), we do not charge a fee. After you have submitted details of your Loan Agreements you will receive written confirmation of the exact cost that will be involved. The cost is 30% of the amount reclaimed plus VAT. However this is only payable if the claim is successful.
Can I make more than one claim?
Yes....most people make several claims as they have had several Loans and Credit Cards in the last 10 years that included PPI cover.
My loan has been paid off, can I still claim?
Yes! Even if your loan has been paid off you can still make a claim.
Do I need to continue to make my PPI payments?
Yes for a period, again your legal advisor will be able to talk through all such aspects with you.
What if my question isn't answered here?
Feel free to call us on 0844 811 4370 and speak to one of our highly trained Advisers, who will be happy to help.