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Scotland Wide PPI Specialists

Busting PPI Claims Myths

14 January 2019

Compensation claims for PPI policies mis-sold prior to summer 2017 are coming to a close. You have until midnight on 29th August 2019 to lodge your complaint and claim your money back. Some people think claiming PPI compensation is awkward and time-consuming. We want to dispel this PPI compensation claim myth and many others we have heard too.


Read on to find out what claiming PPI compensation really entails…

I can't make a PPI compensation claim because I don't have the paperwork

Firstly, we need to 'see' that you have PPI and secondly, prove that it was mis-sold to you.

You may not have separate paperwork for this insurance policy - you may find, for example, that policy numbers appear in statements or other documentation.

It may not be called PPI as this is a general term applied to an insurance policy that covers repayments on a loan, credit card etc. Different companies have different names for their policies.

You can contact your bank or lender and ask for a copy of the financial agreement -  banks and lenders can no longer charge for this - asyou are entitled to a copy of this information under the Data Protection Act 1996.

Making a claim will affect my already poor credit rating

There is no way that making a claim for PPI compensation ill affect your credit rating. Even if you are in arrears with an account, you are entitled to claim your money back if PPI was mis-sold to you. As specialists in this area, we can help you - call us today.

I agreed to the PPI, so I have no claim for compensation

PPI was mis-sold on a large scale to many customers. Even if you did agree to the PPI, you still have a claim. For example, did you feel that PPI was no optional but part of your loan agreement, therefore you agreed to it? Many customers also agreed to the policy under a variety of circumstances that meant it was unfairly sold to them.

There is a PPI database listing how much everyone is due

There is no such thing. Those text messages and phone calls you receive about the '£3,467 PPI compensation owed to you' is all made up, a ploy to reel you in by less-scrupulous companies. Without basic information, there is no way of anyone knowing how much PPI compensation you are owed or even if you have a claim.

Claiming PPI compensation is a long and drawn out process

Not always. Some PPI claims are straightforward, others take more time. But with Scottish PPI Claims, you can be confident we are with you every step of the way.