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SCOTTISH PPI CLAIMS

Scotland Wide PPI Specialists

Are You Looking at EVERY Account for Evidence of PPI?

26 June 2017

It is a question that will be asked of consumers in the coming months as the FCA release their promotional campaign to encourage people to claim PPI compensation before the deadline.

Set for August 2019, the deadline is a signal that the PPI mis-selling debacle is coming to an end. And yet, just when we thought the writing was on the wall for PPI claim, there could be grounds for a judicial review.

But have you checked ALL credit accounts? Which ones could have PPI on them?

Loans

The first account we think of are loan accounts. These can be;

  • Secured loans- such as those secured against an asset of high value such as property, a car and so on.
  • Unsecured loans- also known as personal loans, this type of product is common. It is secured to a person.

Both of these types of loans could have PPI added to them. Check them carefully but remember, you may not see a PPI premium listed as a separate premium. There were loans that included the repayment, interest and the PPI premiums combined every month.

Mortgages

There were some mortgage products that were sold with PPI added. It can be more complex determining if the product was mis-sold on a mortgage as most lenders insist on customers having some kind of insurance or policy to cover repayments on the mortgage.

However, there are stories of people being mis-sold PPI on their mortgage, including second mortgages thus it is wise to check your paperwork.

Not sure? Contact our team for a no obligation chat.

Credit Cards

If there is one account that is likely to have PPI on it, it is your credit card account - especially if you opened the account online and/or some years ago.

PPI was often added to credit cards account without customer knowledge so check - and check all other correspondence and paperwork the company may have sent you.

Customers who have claimed back thousands in PPI compensation have done so from credit card accounts.

Store Cards

Easy credit was everywhere, including high street stores who enticed you to pay for items over a certain value by taking out credit. These agreements were often signed on the day and your goods placed in your hands so you probably didn't take too much notice of the terms and conditions of the insurance you signed up to.

PPI is on many stored cards for most high street retailers, so check for anything that promises to make repayments if you can't.

Catalogues

A common way for busy families to shop is online and via catalogues too. The accounts allow you to spread the cost of your goods without high interest - but were you paying high PPI premiums every month?

Are you really sure you are not a victim of PPI mis-selling?


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