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Mis-selling of Payment Protection Insurance (PPI)
Companies offering credit often sell PPI. If you have been mis-sold PPI Berkeley Solicitors can help you reclaim all of your premiums. Premiums for PPI can be as much as 80% of the amount paid back on a loan.
PPI is supposed to protect people by making their repayments should their circumstances take a turn for the worse.
Unfortunately the vast majority of people who have tried to claim on their PPI have been unsuccessful. In fact following a recent survey on their clients, The Citizens Advice Bureau found that as many as 95% of people who tried to make a claim on their PPI policy have been unable to do so.
If you have been paying for payment protection insurance, and we can show that you have been mis-sold the insurance, then you could claim back the PPI premiums.
Payment protection insurance is often paid on personal loans, secured loans, credit cards, store cards, mortgages, overdrafts and catalogues. Any type of credit might be covered by PPI.
If you have been mis-sold PPI to cover any of these types of credit, Berkeley solicitors may be able to claim back the premiums on your behalf.
The Office of Fair Trading and the Financial Services Authority are both carrying out investigations into the mis-selling of this type of insurance. They have found that in many cases high pressure selling tactics have been used or the policies that have been sold are inappropriate.
It is estimated that approximately 5 Billion pounds worth of this type of insurance policy have been sold and that high number of them have been mis-sold.
Mis-selling of Accident, Sickness and Unemployment (ASU) Policies
Have you been mis-sold an accident, sickness and unemployment insurance policy?
If you have been sold an ASU policy without being given the full details of the policy or the policy you have been sold is inappropriate for your circumstances you may be able to reclaim your premiums.
Contact us by using the form below to get your claim started.
Mis-selling of Personal Loan Protection (PLP)
Similar to PPI insurance, personal loan protection insurance is supposed to cover your repayments should your circumstances change so that you can no longer afford the repayments yourself.
Unfortunately many of the PLP policies that have been sold are inappropriate. Berkeley Solicitors can help you to reclaim premiums if you’ve been mis-sold personal loan protection.
Financial Mis-selling in the news
October 14th 2009, Daily Mail – A decision by a judge in the Commercial Court will mean that thousands trying to have credit agreements made ‘ unenforceable’ could have their cases kicked out.
October 8th 2009, Daily Mail – The City watchdog found insurers took advantage of consumers who bought expensive mortgage PPIs to cover themselves against unemployment and sickness.
October 5th 2009, Mail on Sunday – Lawyers say that a judgment at Newcastle County Court last month, where a £10,000-a-year cleaner won a case against multinational credit card giant MBNA, has opened the way for a wave of new claims against lenders.
January 20th 2009, Daily Mail – Some of Britain’s biggest banks will stop selling a form of insurance policy to those taking out personal loans.
December 11th 2008, Daily Mail – The credit card firm Egg forced nearly 40,000 customers to buy insurance they did not want or could never use, the City watchdog said yesterday.
- Credit card firm Egg fined £720,000 for persuading 40,000 customers to buy insurance they didn’t want
October 2008 – Fears that thousands of consumers are being denied compensation for mis-sold loan insurance have sparked calls for the City watchdog to weigh in:
October 2008 – Alliance & Leicester has been hit by record fine for the mi-selling of PPI:
A recent article in the Daily Mail about the Mis-selling of income protection insurance:
This article from the Daily Mail tells how rip-off PPI is costing customers £1.4 bn every year:
- Banks, finance companies and retailers are alleged to have routinely overcharged the millions who but payment protection insurance
This article from the Guardian tells how a large company has been fined for “serious failings” in the way it sold payment protection insurance:
If you think you may have been mis-sold a financial product, fill in the form below and we’ll help you to get back what you are owed.
Additional Information on Financial Mis-Selling
- Have you been mis-sold Payment Protection Insurance (PPI)
- How much have you been paying for payment protection insurance (PPI)
- 80% of Fixed Term Loans for under £25,000 arranged before April 2007 are unenforceable under the law.
If you would like us to contact you to discuss an instance of financial product mis-selling please fill in the form below (fields marked with * are required):