MSB Solicitors have successfully recovered thousands of pounds in mis-sold PPI policies for our clients.
PPI has been proven to be widely mis-sold. It is usually overpriced and policy terms and conditions show it would be extremely difficult to claim against when needed.
In some extreme cases PPI has been identified to equate to as much as 54% of the total claim value. On a £10,000 loan that amounts to £5,400!
Breaking News - Woman wins £65,000 PPI Compensation payment
Click link to view more details http://www.bbc.co.uk/news/business-18554478
Recovering Mis-sold PPI is something that any client can do for themselves. It should not necessitate any court proceedings, and the services of the financial services ombudsman are available to everyone.
We must make it clear that by using the services of MSB Solicitors, you will not gain anymore compensation than you would if you acted for yourself.
What is PPI?
PPI is an insurance policy which should protect you or your home/car in the event you are unable to make your monthly repayments on your loan/credit agreement due to an accident, sickness or unemployment.
Credit Card PPI is usually calculated as a percentage of the total balance, so the more you owe the more you pay for PPI.
How do I know if I have PPI?
The PPI should be shown on your loan agreement or your credit card statements. In some cases clients have found that a lender has added a PPI policy to their loan agreement without them asking for it.
How is PPI Mis-sold?
Examples of PPI being missold are :
• PPI being automatically added to a credit agreement
• You being out of work or self employed at the time the policy was taken out
• You being told that you could not get the loan/credit unless you took the PPI
out as well.
• You were not asked at the time if you had other similar insurance cover.
• The PPI not covering the length of the loan/credit agreement. For
example if you took out a 10 year loan, but the PPI would only cover you for the first 5 years.
How can we help?
We can look to recover the full cost of the policy plus interest if we believe that you have been mis-sold PPI. If your loan is still running we can also look to reduce your ongoing monthly payments as part of our negotiations.
If you feel that you have been mis-sold PPI then please phone 0151 254 2200 and a member of our consumer credit team will discuss with you whether or not you may have a claim.
What to do next?
We offer a Free consultation service with a No Win No Fee guarantee if you choose to instruct us to proceed.