Banks have been cashing in on expensive insurance policies called PPI or Payment Protection Insurance for years according to the Financial Ombudsman (FOS). This is because the insurance policies that their customers are sold on credit agreements such as Car finance, credit cards, loans and mortgages would never be suitable for the person to use as they were never sold the insurance policy in the first place correctly.
With millions of Mis sold PPI policies in the UK alone it is no wonder that the banks are having to set aside around £50 billion for the insurance scandal that will be the biggest in the history of banking ever.
Millions of policies are still yet to be claimed on and at PPI Claims Help we urge all our customers to look into their credit agreements such as car finance, credit cards, loans and mortgages to see if they have been paying the expensive insurance policy.
Many of our clients have never wanted or needed the insurance policy and this is because the banks unfairly sold the PPI to it’s clients, often informing them that without the insurance policy they would not gain the credit application and that with the insurance policy it was more likely that the creditor would uphold their application.
So if you have had a credit agreement in the last 10 years and would like to look into your policies to see if you have been paying PPI then give us a call today or request a free call back above.