PPI Reclaims Management

Often loans are taken out with payment protection insurance (PPI) included, however many such policies are now known to have been mis-sold. Your client may have paid out £1000's on a policy for which they have no chance of making a claim.

Many people with PPI don't even know they've got it. They see an attractive APR, apply for a loan and are told monthly payments. The fact that payments include PPI is often missed.

If the client's circumstances at the time the loan was taken out were such that it would not be possible for them to claim on the policy, then it's not fit for purpose and almost defiantly mis-sold. PPI can be a significant cost of the loan. Some example cases reported by Citizens Advice Bureau range from 20% to 56% of the cost of the loan.

Benefits For Your Client

• Reclaim past and stop future payments.
  PPI payments are pay as you go, but in some cases, the premium for the full loan term is charged to the client at the start of the agreement - by adding it to the loan. This would be refunded in full.
  
• Potential Loan Overturns.
  In some cases the credit agreement may be deemed to be unenforceable. In these circumstances we will seek to get loan balance written off in addition to the PPI refund.

PPI Reclaim Criteria

PPI Policies over £1500. Loan over-turns can be considered if the outstanding balance is greater than £2500 but the original loan amount less than £25,000.