What is Payment Protection Insurance?
Payment Protection Insurance is designed to cover a debt (typically a loan or credit card) that has been taken out with a current provider which is currently outstanding. The insurance is usually sold as an essential add-on to the loan or debt. They are designed to protect the value of the loan, credit card / mortgage repayment or part thereof incase of illness, accident, redundancy or a range of circumstances preventing repayment of the debt.
Am I paying Payment Protection Insurance?
Too few people are aware that this insurance has been added to their loan or credit card agreement. You may be paying this insurance without even knowing. Ensure you check your loan agreement, mortgage agreement and credit card statements today. It may be phrased as loan or credit protection; accident, sickness or unemployment cover.
Payment Protection Insurance (PPI) can range from 20% to 70% of the loan amount!
What Payment Protection Insurance can I reclaim?
If you have been mis sold payment protection Insurance or believe you have been mis-sold PPI then you may be eligible to reclaim your payments. Below are the most common areas where you can reclaim PPI.
Unsecured & Secured Loans
Credit Cards
Store Cards
Higher Purchase (HP) for expensive items e.g. Car
Mortgages
The majority of all PPI claims (90-95%) undertaken by our solicitors settle outside of court.
Am I eligible to claim back my Payment Protection Insurance?
A Payment Protection Insurance refund has become possible since the Financial Services Authority (FSA) identified many cases of mis sold payment protection insurance products in relation to loans & credit agreements.
It is possible to claim back payment protection insurance from 2002 onwards, whether your policy is still running or even if you have finished paying. You will need the original paper work for your loan or credit agreement.
It is possible to reclaim PPI if you are a resident of England, Scotland, Wales or Northern Island.
There are many areas which are excluded from PPI & where PPI has therefore been mis-sold. We would especially like to hear from you if you are:
Unemployed
Self Employed
Student
<18 or >65 years old
In the Armed Forces, Police or Fireman
How to reclaim your Payment Protection Insurance
Contact Sapphire Claims Management Ltd today & we will asses your Payment Protection Insurance claim to see if you are eligible for a refund.
All our & our solicitors advice is completely Free & there is No Obligation to make a PPI claim. All Payment Protection Insurance claims are dealt with on a No Win No Fee basis and there are No Upfront Costs.
Fees
All PPI claims are run on a No Win No Fee basis.
Typical Applicants Example
|
Term |
Monthly |
Claim |
Unsecured Loan |
6 Years |
£210 |
£7,560 |
Hire Purchase for Car |
3 Years |
£290 |
£2,088 |
Secured Loan |
4 Years |
£350 |
£3,360 |
|
TOTAL CLAIM |
£13,008 |
|
(**PPI 20% of Monthly Payment)
Payment Protection Insurance in the News
What's happening in the world of Payment Protection Insurance (PPI).
