PPI Claim Compensation

Many people have already received PPI claim compensation in recent years as a result of having been mis-sold Payment Protection Insurance by a wide variety of lenders.

Payment protection insurance, on the face of it, appears to offer a valuable and useful safety net for borrowers offering protection against inability to repay loans in the event of being unable to work or unemployed for a variety of reasons.

The PPI claim compensation has arisen as many lenders have been selling products on the back of loan arrangements where the product is not suitable for the borrower and industry safeguards on the provision of sound advice have not been observed.

If you have taken loans, credit cards or finance in the last 15 years, you may well be entitle to claim compensation that may include the repayment of your premiums, interest on these payments and additional statutory compensation in addition. This can amount to thousand of pounds for some claimants.

A number of companies have sprung up specifically designed to can assist you in the claiming of compensation for mis-sold payment protection insurance and although you are actually able to make your claim against the provider directly, these agencies may reduce the stress and confusion in making your claim. It is a good idea to check references on these providers first, preferably working upon recommendations from friends or colleagues who have used the provider and have been satisfied with the results.

Many providers of PPI compensation services offer their services on a “No Win No Fee” basis – check what their fees are if you win, these can vary considerably and will often be subject to VAT. These fees are payable by you in the event of a successful claim.