What is PPI?

The simple answer to the question 'what is PPI?' is that it stands for 'payment protection insurance'. But beware - it goes by many other names, including:

• 'Loan insurance'
• 'Credit protection'
• 'Lifestyle protect'
• 'Cover guard'
• 'Payment guard'
• 'Card protect'

PPI is meant to help people with loan repayments for a maximum of one year if they become sick or lose their job, but banks have mis-sold PPI to millions of people.

Could I have PPI without knowing it?

Yes! If you have PPI it may well have been sold without your knowledge or consent. If you have any of the following products, you should call us to find out whether you have PPI as well:

• A loan
• A credit card
• A mortgage
• A secured loan
• Hire purchase for a car
• Finance for purchases, home improvements or store cards

Why didn't I know about PPI before?

If you have been thinking: 'what is PPI?' Don't worry - you are not alone.
Until a recent High Court ruling brought attention to the PPI mis-selling scandal many people, even those who had it, weren't even aware of PPI.
Now it has been revealed that a staggering 90% of PPI policies were mis-sold to people by the very institutions they trusted the most.
So it's no wonder that the questions 'what is PPI', and, in many cases, 'why was I advised to buy PPI?' are on many consumers' lips.

What is PPI mis-selling?

If you were mis-sold PPI, it might have been because:

• You weren't given a choice about having PPI as part of your loan or credit card
• You were sold PPI but the full cost was never explained to you
• You were sold PPI when you had no income to protect. For example, you were out of work, self employed or retired

These are just the most common ways that PPI can be mis-sold. There are many more! Call us and we will let you know whether any of these apply to you, or if there are any other reasons your PPI policy was mis-sold to you. You might have a claim without even realising it.

Want to know more about what PPI is?

Now that we have answered the question: 'what is PPI', you may have realised that you, too, need a PPI refund.

Our experienced claim handlers are very happy to answer any further questions you have, for example if you would like more information on what PPI is, or on how to make a claim, or if you would simply like to talk things through.
Call us today - we're happy to help.