Have You Been Mis-Sold Payment Protection Insurance?

mis-sold endowment policy

If you took out a loan, mortgage or credit card from a bank or building society in the United Kingdom the probabilities are that you were mis-sold Payment Protection Insurance or PPI as it is often known. The law has modified and it is possible to reclaim all your payments in full plus in a number of cases, damages, typically at no cost to yourself through a so called no win no fee agreement..

Whether you qualify to make claims depends awfully much on when you were mis-sold policy. The new law only covers payment protection insurance programmes sold after January 2005. However, many lawyers will pursue on you behalf policies sold before the cut off date, and in several cases recover your payments. There are numerous no-win no-fee law firms starting up to follow these errant banks and banks thru the United Kingdom courts in what has changed into a multi-billion dollar business.

The good news for the claimant is that these law firms handle everything for you and the only contribution you have got to make is confirming the mis-selling took place and banking the check.

You are able to claim through the United Kingdom courts against a bank who mis-sold you Payment Protection Insurance if you can satisfy any one of the following 13 conditions.

1. The PPI was added without your express agreement or information.

2. The sales staff or person selling the mortgage or loan insurance was coercive, in your face and strongly advised you to take out the PPI cover.

3. You were told you had to take the payment insurance.

4. You were told you could not get the mortgage without MPPI.

5. You were told you could not get the loan without loan payment protection insurance.

6. The cover you were offered was included in the loan or mortgage

7. You knew you were soon to be underemployed.

8. You were self-employed when the payment protection was sold to you.

9. You were retired or over the age limit for PPI cover which is customarily sixty five.

10. You were not asked about any pre-existing medical conditions that you will have suffered from.

11. You were not told that established medical conditions could affect your insurance cover.

12. You were not informed that the UK’s 2 largest problems for time of work, specifically stress and back problems were excluded from the insurance / or you informed the lenders staff about your medical problem but was not warned that this will affect the protection insurance cover in the event of a claim.

13. You were not questioned if you already had any existing mortgage protection or loan insurance in place somewhere else or employer benefits that would cover my repayments.

If any of the above examples apply to you, you have potentially been mis-sold policy and need to contact a barrister or consultant lawyer who will claim on your behalf. Act now as there may well be extra time restrictions implemented as the number of claims rises.