Payment Protection Insurance(PPI)
What is Payment Protection Insurance (PPI)?
Payment protection insurance or PPI is normally sold with credit card, mortgage or personal loan accounts to protect borrowers if they become unable to make their repayments in the event of accident, sickness, redundancy or death.
Often PPI is sold as a single premium policy. The premium is added to the amount borrowed and repaid together with interest over the term of the loan. The premiums can be very expensive. The policies are frequently sold on the back of high pressure sales tactics and a huge proportion of these policies seem to have been mis-sold. It is estimated that there are up to 16 million PPI policies in the UK* and that the sale of them has generated many billions of pounds of revenue for brokers, lenders and insurers.
*The Telegraph 14th May 2011
Have you been Mis-sold Payment Protection Insurance (PPI)?
Common ways in which PPI is mis-sold to borrowers are as follows: -
- They are told it is compulsory or led to believe that they won't get a loan without it
- They have pre-existing medical conditions which are excluded from the policy
- They are self-employed (often such policies only protect borrowers in permanent full time employment), retired or a student when the policy is sold to them
- The PPI doesn't cover the life of the loan i.e. it only provides cover for 5 years as against a 25 year loan
- The full costs of the PPI were not explained
- The borrower was retired at the time of taking out the policy
- They are pressurised into taking it by a 'hard sell'
If you have ever been sold a PPI and some or all of the examples set out above apply to you, then you may have been mis-sold your policy and may be entitled receive PPI compensation. About 2 million borrowers have already complained about PPI policies they were sold and hundreds of claims are being won every day. The Financial Ombudsman Service reports that the average payout is £2,750.
You could be entitled to receive a cash refund of your policy premium together with interest.
What Turner Coulston can do for you
Our specialist solicitors have recovered many thousands of pounds for clients and they are waiting to take your call and start the process of claiming back the money you are owed.
Most of our claims work is carried out on a “no win no fee” basis, so in the unlikely event that we are not successful you will not be liable for paying your legal costs
Contact us today to see how we can help you and start claiming back that money you are owed!
Call 01604 622101
or
email ppi@turner-coulston.co.uk
(for further information or to request a call back)
Business PPI Claims:
Payment Protection Insurance Claims (PPI)
Our PPI Claims Team specialise in handling substantial / large caseloads for Introducers throughout the UK. We achieve excellent results for our clients by keeping things simple. At Turner Coulston we will keep you informed every step of the way by all means of communication and you will receive a dedicated point of contact should you need to speak to someone. We can provide bespoke reporting information tailored to your specific needs. Our team can provide on-site presentations where we can demonstrate the service we can offer and give you the chance to check that your particular requirements (SLA's) will be met.
Our success to date has been possible only as a result of working closely with all of our business clients. We are in regular contact throughout the process and will schedule review meetings designed to address any issues / queries that may arise during the early days of any business relationship.
If you are looking for a service driven partner who will add value to your business for your Payment Protection Claims (PPI) please contact the Turner Coulston team:
Call Us On: 01604 622101
or
email: commodityppiclaims@turner-coulston.co.uk