RCLME Helpline

Right Conclusion Limited offer a FREE review of your policy and guarantee that we will get you all the money that you are legally entitled to receive.

PPI Misselling Claims History

For further clarification Contact us and one of our advisers will conduct a FREE REVIEW, before advising on the most suitable way forward for Reclaiming Mis Sold PPI (Payment Protection Insurance) premiums.

Payment Protection Insurance Misselling claims history


Payment Protection Insurance (PPI) is the insurance that is sold alongside loans, credit cards, store cards and debt products like car finance agreements, that is supposed to cover the repayments if you can't make them.

Over 20m policies exist in the UK and as many as two million people may have been mis sold policies since 2003.

If you can't make the payments because of an accident or illness that means you can't work or if you are made redundant, PPI is supposed to step in and cover the payments for a period of time.

The problem

Firstly PPI bought from a lender is extremely poor value for money, with any potential benefits far outweighed by the huge cost. Secondly, PPI is very often sold to people that can never claim on it. The terms are tightly drawn so that most of the instances where people hope to claim are not covered.

Thirdly a lot of people are not even aware that they have purchased PPI. In any event the salesperson should have explained the advantages and drawbacks of the policy before selling it.

Most policies don't pay if you are:-Self-employed, Retired Or stop work because of:-

A medical condition you weren't asked about, stress or back problems.

Only one in five claims on PPI are successful. There has also been evidence of firms forcing customers to buy it, wrongly claiming it's compulsory when it isn't or refusing to give a quote without it. There are even cases where the insurance has been added without the permission of the customer.

In the worst cases, already expensive PPI is paid for up front and the money to pay for it is added to the loan you are taking out. This way of selling PPI, known as 'single premium', means that you end up paying interest on the cost of the insurance. When customers go to cancel the insurance they are told that it cannot be cancelled without recalculating the entire loan.

Mis selling

First you need to establish if you have PPI - you may have the insurance without knowing. When attached to a credit card you should be able to see any payments taken for PPI in your statements, but if you have a personal loan it might not be so obvious.

There are many different reasons why you may be entitled to claim. Please read our reasons to claim PPI.

Compensation Claims

Your claim for compensation is dependent on when you took the insurance. PPI sales only came under the jurisdiction of the FSA in January 2005. Any sales made before then are not covered by the latest rules. However, If you bought before January 2005 it is likely that they will have been covered by a previous regime of rules. This means that the Financial Ombudsman Service will be able to consider these complaints.

Steps to claiming PPI.

Contact us for a claim pack.

Return paperwork. with relevant copies of the point of sale documents i.e. PPI contract you signed.

Claim process We keep you updated about your PPI claim.

Your PPI award or offer explained. Cheque for you!

Pay my invoice Ways to pay.