Mr M came to us regarding two loan agreements he had taken out with Welcome Finance. Mr M had noticed on his agreements that Payment Protection Insurance (PPI) had significantly increased his outstanding debt. As Mr M was struggling with his repayments he deemed it necessary to take action and try to recover the PPI element of his loans.

Upon speaking with Mr M it was clear that the PPI policies sold to him were wholly unsuitable. Mr M was off work due to illness and as such would have been unable to make a claim as he fell into an excluded category.

After further investigation of Mr M’s loan agreement it became apparent that one of the two agreements was unenforceable due to the interest rate being variable but no interest rate being stated.

As Welcome Finance offered no suitable remedy to the above mis-selling of PPI and unenforceable agreement court proceedings were issued. Welcome Finance subsequently entered into financial difficulty which ultimately led to claims against them being handled by the Financial Services Compensation Scheme (FSCS).This would have failed to provide Mr M with the desired remedy and it was vital that the case remained in the court system. In order to do so an allocation hearing took placed and it was successfully argued that Mr M’s case should not be sent to the FSCS.
Following the allocation hearing settlement was agreed and Mr M had one loan written off together with a PPI refund in excess of £3,000. In relation to the second loan agreement Mr M’s debt was reduced by over £2,000 as a result of a second PPI refund.

Our Client Dr P came to us after he had noticed large PPI charges on his MBNA credit card statements. We successfully recovered just over £26,000 in mis-sold PPI and associated interest.
Whilst dealing with a separate matter for Mr V we alerted him to the fact that he had a PPI policy relating to a Northern Rock loan agreement. Following further instruction we pursued the matter and secured our Client redress for over £2,500. Money that he was unaware he was entitled recover.
As well as individual clients, we have successfully recovered mis-sold PPI on behalf of Insolvency Practitioners. Mr B received an offer of over £26,000 which Barclaycard wished to reduce from Mr B’s outstanding debt with them. We successfully argued that this sum was to be paid direct to the IVA supervisor and as a result this was distributed amongst all creditors, significantly reducing the IVA.