Bankruptcy

PPI Claims, What is PPI (Payment Protection Insurance)

PPI Claims for Payment Protection Insurance (PPI) is to provide insurance protection in the event of the insured person being unable to work as a result of accident, illness and redundancy, let debt helpline explain.
PPI is mainly sold alongside a secured loan, unsecured loan, mortgage, car purchase, credit or store card. Often the loan provider will make it sound like the PPI is compulsory, but it is optional and you do not have to have it.
Policies will usually pay out after a period of between 1 and 3 months if the insured is unable to work.
If you have had a loan within the last 6 years you could be one of the millions of people who have a payment protection insurance (PPI) and could make PPI Claims, this is where debt helpline can help.
Mis-sold Payment Protection Insurance (PPI) is widespread throughout the UK and it is likely that you may not even know you have such an insurance policy.
PPI is often referred to in a number of ways. You may remember the advisor discussing 'loan cover' or 'loan Insurance' or even offering you a 'fully protected loan'. On a loan agreement PPI may be referred to as 'Loan Protect', 'Loanguard' or 'Gold Cover' for example and is often specified in the financial section of your agreement, let debt helpline clarify this for you.
You could be paying an extra 12% to 50% on top of your loan and it is likely that you may not even be aware of this. Alternatively you may not need the cover or worse still, you may be unable to claim on the policy due to exclusions, should the need arise.
Mis-sold PPI is possibly the most mis-sold financial product ever marketed it is highly irregular and grossly unfair for the consumer and we are able to help you to do something about it. Call the debt helpline today.