Payment Protection Insurance (PPI)?

How it works

Payment Protection Insurance (also known as PPI, credit protection insurance, loan repayment insurance) mis selling is the greatest financial claim scandal since the mis-sold endowment claims fiasco a few years ago. And once again demonstrates all that was wrong, and we hope no longer remains wrong with the banking system and the attitude they took towards their customers which has led to millions of PPI claims already, and many more million people still entitled to make a PPI claim to receive their financial compensation refund.

The banks and other lenders set up a system that was quite simply this. Whenever a client came to them for finance, either through a loan, credit card or mortgage, PPI insurance would be attached. This payment protection insurance was basically sold to the client as a protection. However it is not so simple.

The PPI scandal explained

Many times the PPI insurance was severely overpriced and did not offer value for money. In fact many loan company’s or credit card company’s would include the ppi premium within the policy then charge interest on it, and this could amount to as much as 35% of the amount borrowed being paid in PPI! It was very profitable business for the banks, but it was not good for YOU…their customers!

Many other people who have made a claim were mis sold ppi as they did not need the policy i.e. it did not apply to them, so that in any event they could never claim. Other people were told PPI was compulsory and in order to get the loan they needed to take out the PPI insurance, and many other times the PPI was added without the customer even knowing. Whatever the reason we can find out for you whether your PPI has been mis-sold. If you have PPI then it is very likely it has been. That’s how it works.

The banks and credit card company’s, together with the brokers and mortgage lenders, as well as those selling hire purchase and car finance agreements were all making more money on selling the PPI then they did on providing the actual original service they were supposed to be supplying, and so unfortunately as the commission grew , so did the mis selling. That’s how it works!

Quite simply they were selling insurance that was very unlikely to be claimed on. In June 08, after a 15 month investigation into PPI, the Competition Commission found that the following average payouts applied:

• * Personal Loan PPI: 15%
• * Credit Card PPI: 11%

PPI complaints now account for more than half of all complaints the Financial Ombudsman (FOS) receive, and it is estimated that up to 20 million people may be able to claim a PPI refund plus interest, and that the banks will be paying refunds in excess of £9billion refunded back to their customers they mis-sold the PPI to. This is all the major banks and credit card company’s that provide loans, credit cards and mortgages such as Lloyds, Barclays, HSBC, Santander, RBS , MBNA, Capital One etc. In fact this was widespread across the board. It was reported by the major lenders that up to the end of December 2011 close to £2billion had been paid back to customers that had made a claim for mis-selling so far. That’s how it works! Some of the fines given by the FSA for ppi mis selling include £770,000 for the Swinton Group, £721,000 for Egg Banking PLC, £7,000,000 for Alliance & Leicester, £840,000 for Liverpool Victoria Banking, £1.085,000 for HFC Bank, £175,000 for Capital One, £610,000 for GE Capital, £455,000 for Loans.co.uk Limited, £56,000 for Regency Mortgage Corporations and the list goes on.

How can we help?

So if you have taken out a loan or credit card with any lender in the last 10 years then contact us now as you can make a PPI claim for a refund with us. Lawyers4u Limited t/a Lawyers4u.org are a national company, and are the market leaders in providing expert help to people claiming back their ppi compensation refund.

Once we have received your details then we will begin investigations straight away.

We are well experienced and know how your PPI claim needs to be presented in order to win you back the PPI compensation refund you deserve. In addition to claiming back the PPI, we will also claim back all interest which in many cases can be as much, if not more, than the cost of the PPI premiums themselves! That’s how it works!

Contact us today

We are the experts in winning your PPI claim and the PPI compensation refund you deserve and every day we win back hundreds of thousands of pounds for our clients. So do not delay. Please make a new enquiry now through our make a claim page.

We are ready to help and fight on your behalf to win back YOUR PPI money from the banks!

So contact us now in complete confidence for our no obligation PPI claim pack. It does not cost you a penny to make a PPI claim and with Lawyers4u there are no upfront fees and the good news is, if we don’t win your claim, you don’t pay us a penny. Guaranteed! That’s how it works!

So do not delay, we don’t want you to miss out and the clock could be ticking! Call us or make an online enquiry now through our website. This could be the most important thing you do today and we could win your PPI claim is as little as 3 weeks!

Our advisors are ready to assist you in winning the PPI compensation refund that you deserve. So don’t delay CONTACT US TODAY

What do we do?

We provide claims management services in respect of mis-sold PPI (Payment Protection Insurance) policies.

What is the process for making a claim?

Once we receive your completed documentation we will send you confirmation that we are able to proceed with your claim(s). Apart from signing the required documents there is little for you to do. Lawyers4u will professionally manage your claim(s) on your behalf and will endeavour to have your settlement paid to you in the shortest time possible. We charge commission on the total benefit received at the rate of 10 percent only. There is no minimum administration fee for PPI claims.

On submission of your claim, the claim is anticipated to take 6 to 9 months to complete, and usually does not take longer than 12 months. This will be provided on a no win fee basis. You will not be responsible for any costs if your claim is unsuccessful.

Do you charge up front for making a claim?

NO! We strongly advise you do not pay an upfront review fee to any company. We have seen competitors trying to charge between £200 and £600 to review each loan agreement. We are a financially solvent company that does not need to and does not see why a client should pay a large upfront review fee.

Cancellation/Refunds

You may cancel the contract between us and you at any time by writing to us. A cancellation fee may apply if you decide to cancel, we decide to cancel or you submit duplicate claims.

You have a 14 day “cooling off” period from the date of your signature of our Client Agreement, within which you may cancel the contract with us. After this 14 day period, if you cancel the contract with us, you will be required to pay a cancellation fee. This is a reasonable fee calculated to cover the level of work carried out on your case at the date of your cancellation.

Complaints

Our aim is to provide a first class professional and confidential service. We have internal procedures for handling complaints fairly and speedily and, should a complaint arise, in the first instance you should contact our customer services department.

Could I do this myself?

Yes, this is possible. Information can be found from the Financial Ombudsman on proceeding with a claim. However, we are specialists in this area and you do not lose a penny if your case is not successful.

Terms & Conditions

Our full terms and conditions can be viewed by downloading here.