1. PPI was not suitable for you
If you already had a sickness and accident policy, or if you were a member of the Armed Forces, NHS, Civil Service etc, you may not have needed additional cover and were probably mis-sold PPI.
2. PPI was too expensive
Many loans were sold as Single Premium PPI, which meant that PPI was added to the whole amount at the start of the loan and customers were charged interest on the total. If you were sold Single Premium PPI, you were probably mis-sold.
3. The policy wasn't explained at the outset
Were you told everything about the PPI policy and all the exclusions before you agreed to it? If not, you may have been mis-sold.
4. You were arranging a consolidation loan
If you were taking out a consolidation loan, PPI would have added hugely to your monthly payments at a time when you were looking to reduce them. Sound familiar? Then you were probably mis-sold.
5. You weren't given enough information to make an informed decision
Were you told that you could probably find the same cover significantly cheaper elsewhere if you shopped around? No? Then you were probably mis-sold.
6. You were led to believe that PPI was a condition of the loan/credit card
Sales staff didn't always tell their customers that PPI was being added to their loans or credit cards, or that it was optional. Were you aware? No? Then you may have been a victim of PPI mis-selling.
7. Your employment status meant your cover was void
If you were unemployed, self-employed, on a fixed-term contract, working less than 16 hours a week, working outside the UK, a temporary or agency worker, a student in full or part-time education, a director of your own company, retired or due to retire, you were probably mis-sold.
One of the above applies to me, but did I have PPI?
The best way of checking that you actually had PPI is to go through your paperwork and see if you can find PPI, or any kind of Payment Insurance, added to your monthly statements or loan agreements.
If you can't find any paperwork, your bank should be able to tell you if you had a policy. Sadly, the banks aren't always honest about this. Fortunately, we can help.
What should I do now?
Let's get one thing straight. If you've been mis-sold, you're entitled to get your money back. It's no different to being overcharged at the garage or supermarket.
Now there are lots of different options open to you, so you might want to know a little more about EMCAS. Click here to discover why over 700,000 people so far have trusted us with their financial claims.
You may, on the other hand, already feel EMCAS is right for you - and you want an expert in your corner when you come to take on the banks. If that's the case, contact us today for a fast, free and no-obligation initial assessment.
Click here to start your PPI claim with EMCAS now.