Mis sold insurance if factually a wrong term as PPI stands for payment protection insurance and therefore the last “insurance” is not needed. We will use it, however, as most people are used to calling it mis sold insurance. The question is really, what is it? And maybe most importantly; what can you do about it and how do you go about it?

The answers are not as hard as it might seem at first glance and here we will try to give you some more insight into mis sold insurance. If you’re ready to get your unfair PPI payments back, you can visit www.PPIClaimsUK.co.uk or call our specialist team on 0800 031 6078 to get your claim started.

When you read an article on the internet or in the newspaper about PPI claims it might not explain exactly where it comes from. We will try to explain it all below and even give you some examples of how people got taken in by canny craftsmen whom are also known as sales people. They earn a good commission on every ppi they sell so they do their best to get as many of them sold as poosible.

A mis sold insurance occurs when there has been no clear explanation what you actually bought. When you talked to an expert that gave you the loan or the insurance you asked for he might have uttered some words in the sense of “fully protected loan” or “Fully covered loan”. These 3 words meant that you agreed with the deal including a payment protection insurance (or ppi). This of course is way too little information for the customer and there are now ways to get this money, or at least part of it, back. Because a lot of the fee you actually pay for the mis sold insurance you might actually pay as much for the insurance as that you could actually obtain back in case you need to use the insurance for a payout.

Many people actually had or even have a similar problem with the details about the payout. Because some people might already have a health coverage (through work or otherwise) that would keep their wages almost at the same levels as they were, so there is less reason to have a ppi.

A mis sold insurance can now partly or completely be claimed back and that is great news for the customers who might have been mis sold insurance. For some households this can give a return of a nice new stove or even a second hand car. This is of course too good a chance to let it just lay out there and let the banks profit from it.

Apparently (and this comes from financial wiz kids) the profit banks make on mis sold insurance has run into £4 billion per year. This is money that belongs to you and should be in your bank account instead of in the banks own bank account. To get your PPI claim started, give our team a call now on 0800 840 7292 or if you prefer, fill out the quick and easy form and we’ll get back to you with a compensation quote.