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Take our 60 second
test to see if you can
claim |
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WHAT
IS FINANCIAL MIS-SELLING?
If you have had had a personal loan, secured loan,
credit card, store card or catalogue credit then you may
be able to reclaim £1,000s. The mis-selling of Payment
Protection Insurance (PPI) on these products has been
so severe, you may not even know you have it.
If you take out a loan, the lender will try and sell you
insurance to cover your repayments if you are unable to
work. Lenders usually make more money from the insurance
than the loan itself, on a typical £10,000 loan
over 5 years at 6.5%, you'd pay £1,700 in interest
but £2,100 in insurance!.
Worse still for many this insurance is often unnecessary,
unsuitable and will not pay out if you need it; plus you
could've got it at a quarter of the price elsewhere. Luckily
now the regulator is investigating these mis-sales you
may be able to claim all of your money back.
How do I know if I was mis-sold insurance and can reclaim?
Simply check if you fit into one of these mis-selling
categories:
- Were you self-employed, unemployed, redundant or retired
when you got the loan/credit card?
- Did you have medical problems before you got the loan/credit
card?
- Has your provider already been fined for mis-selling?
Many major providers have already been fined for systematically
mis-selling the insurance.
- Were you sold a 'single premium' loan policy? This is
where the whole cost of the insurance is added as a big
lump sum at the start of the agreement, which is then
repaid over the term of the loan. If you had one of these
polices and left or changed the agreement part way through
but didn't get a refund at the time, you may be eligible
for a part refund.
Were you given full details of the insurance? This covers
anything from being told the insurance was compulsory,
to not knowing you had even purchased PPI when taking
out the insurance. Lenders selling PPI polices are obliged
to tell you about the specific criteria of the policy
and to confirm that it is the right product for you. |
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Contact us now for a
free assessment as to whether you have a legitimate claim,
or use our 60 second test. |
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CALL OUR ACTION LINE NOW ON 0800
458 3414 |
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