Frequently Asked Questions


PPI: What does the recent Judicial Review mean to me?

In a nutshell, it should mean that it is easier for you to obtain compensation if you have been mis-sold payment protection insurance. It should also mean that you can claim for past mis-selling of PPI that may have occurred years ago. The Judicial Review made it very clear that the lenders were at fault for the way they sold this product to you.

PPI: What are the issues with Payment Protection Insurance?

Due to the competitiveness of the financial industry, lenders are having to reduce their lending rates to attract new and retain existing customers. This is causing a drop in revenue due to lenders having smaller margins on loans, credit cards and mortgages. PPI, although sold as a safeguard for borrowers, may just be seen as a way for lenders to increase their income from selling loans, credit cards and mortgages.

Some PPI policies offered by lenders may be unsuitable to borrowers in certain circumstances. Policies may not be suitable for the self-employed if they only cover redundancy. Some are so full of exceptions and exclusions that borrowers are often unable to make a claim if the worst does happen.

PPI policies sold by credit card companies, banks and lenders can be overly expensive and are sometimes forced upon the borrower as part of the approval process or hidden within the debt repayment schedule. Debts may be increased by up to a third when factoring in PPI payments.

PPI: What is Payment Protection Insurance mis-selling ? How do I know if I have been mis-sold Payment Protection Insurance?

The plain fact is that a number of PPI policies sold to protect borrowers from their debt in reality offer no protection at all and are simply a revenue stream for the lender. Borrowers may be unaware they are even taking out PPI as they go through the application process.

Lenders may offer low rates that are only commercially viable to them with the addition of a PPI policy and the may also mis-sell PPI policies with sweeping statements such as 'Will pay off your debt' or 'Will safeguard your family' when in fact the product they are selling may be completely inappropriate to the borrower and offer no such security.

PPI: Can I claim compensation for Payment Protection Insurance mis-selling

If you feel that, when you were sold your PPI policy, the salesperson failed to explain exactly what you were purchasing, or you were forced to take out the PPI policy by your lender, you may be able to claim compensation. Also, if you were sold an unsuitable policy while self-employed, unemployed or retired, you may have a case for mis-selling as your circumstances at the time of sale may mean that you cannot claim on the PPI policy in certain circumstances.

The most visited gambling websites in The UK

Tel: 020 3002 0644 - Email: info

Reclaim Finance is a trading name of Reclaims 4 U Ltd
Reg. Office: 24 Harkness street . Manchester . M12 6BT
Company Registration No. 6651869 - Place of Registration: England & Wales
Vat No. 989401772 - ICO Registration No: Z1480043
Reclaims4U Ltd is regulated by the Financial Conduct Authority in respect of regulated claims management activities;
FRN830181 its registration is recorded on the website:

PPI Terms & Conditions | Privacy | Complaints

©2019 Reclaim Finance