We are a dedicated claims management company specialising in financial mis-
Mrs O’Sullivan
We can help you reclaim mis-sold PPI on a No Win No Fee* Basis
Most Payment Protection Insurance Policies are only underwritten when a claim is made. You may currently be paying for a policy that will not cover you.
Payment Protection Insurance
Payment Protection Insurance or PPI as it’s more commonly known is sold as an insurance policy alongside a loan or credit to secure the repayments should you become unable to meet your monthly repayments in the event of death or serious illness. In theory these policies sound great but the reality is that they are not always as good as they claim they are.
These policies in more cases than not, do not provide the cover they claim they will. They are usually underwritten when a claim is made against them which means that when you really need the cover you may be told it is non-existent despite having paid extortionate premiums. PPI is usually sold on a very informal basis with little or no fact find done into a clients needs, requirements or history. As a result thousands of policies are mis-sold to consumers who will never benefit from the cover the policies claim they provide.
Why would lenders mis-sell PPI?
In simple because it provides an annual multi million euro revenue stream to the Irish Banking Industry. For an example a consumer who takes out a €10,000 personal loan over 5 years with PPI can pay anything from €2,000+ over the duration of the loan for this protection policy which may not even cover them should they need to use it. That is an incredibly high premium to pay for cover which may or may not cover you.
Would you pay for Car insurance if you knew it would not cover you in the event of an accident?
In various cases consumers will not even know they have PPI as the PPI premium will be built into the repayment amount the lender charges you on a monthly basis. This is considered a high form of mis-selling as the bank is selling you a product, a very costly product which you never requested.
If you have taken out a loan or credit within the last 10 years it is advisable to check if you were sold Payment Protection Insurance. If you have this policy it is advisable to check the terms and conditions of the policy to see if any exclusions will prevent you from obtaining cover should you need to use it. If there are exclusions which were not explained to you in advance of obtaining the cover contact us and allow us to help you reclaim your PPI using our No Win No Fee* process.
How else will I know if I am a victim of PPI mis-selling?
If you can answer yes to any of the following you may be entitled to seek compensation.
- I was not in work or self-employed at the time of sale
- I was working 16 hours a week or less when I was sold the PPI
- You were sold PPI when you had just started a new job
- You were sold PPI when you were on contract work
- I was told that you had to take out PPI at the same time as the loan
- I was not asked if I had any other insurance which would cover the loan
- I was not told I could buy PPI elsewhere
- I was made to believe that PPI was compulsory
- I was led to believe I would receive a better interest rate if I secured the PPI
- I was led to believe that my chances of securing the loan were far greater if I purchased PPI
- My medical history was not asked
- The relevant exclusions in the policy were not explained to me
- I felt pressured into buying the PPI
- I was sold PPI that promised cover on certain clauses but it didn’t when I made a claim
- I paid upfront for the PPI as it was not explained to me that I could pay for it monthly
- My PPI was paid upfront and I did not receive a refund when I paid my loan early
- The terms and conditions of the fine print were not properly explained to me
- I increased my loan and the PPI was increased automatically
Take our MIS-SELLING test now to see if you can claim compensation for mis-selling.
* Unless you mislead us at any point or cancel your instructions after the cooling off period