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PPI Insurance was mis-sold throughout the UK over the last 10 years earning banks billions of pounds. Now is your chance to reclaim it all back with interest, in just 8 weeks time!

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Welcome to PPI Claims Direct

Can You Reclaim Cost Of PPI? Should You? Find Answers Ahead

You probably know a friend or relative who has reclaimed the money paid on the PPI policy successfully. Or the hype and publicity in media may have piqued your interest and you want to know more. Well, PPI is often in the news because more and more people are learning how they were cheated of their hard earning money and how they are entitled to claim a refund on a mis-sold PPI policy. Just read ahead if you want to learn more. We will try to explain the complex issues surrounding the controversy in simple terms. Let us understand what is PPI, how it works and why is there such a big controversy surrounding the policy.

PPI Explained

A Payment protection insurance (PPI) is designed to help you continue loan repayments in the event you are not in a position to do so for reasons and factors beyond your control. A loss of job may affect your ability to make repayments. You may fall ill seriously or may end up in an accident. In such cases, the policy will step in and repay your mortgage, credit card, or any other loan for a period ranging from one to two years depending on the terms and conditions of the policy. So, why is there such a big controversy surrounding this product? Well, buyers ended up with policies that they could never claim on. Sellers broke the rules and buyers ended up spending money without enjoying any benefit. Since the contract between the buyer and the seller is affected by such fundamental flaws, the former can now step ahead and reclaim the PPI charges they paid.

What Happened?

Customers started complaining about mis-sold PPI policies to the authority in charge of managing consumer finance disputes. Customers also companied to the Office of Fair Trading. The spate of complaints prompted an investigation which proved that mis-selling had indeed taken place. What is more, it was found that the malpractise was rampant and had been condoned by banks seeking to boost profits. Fundamental rights enjoyed by the buyers in relation to the PPI charges were never explained properly. Lenders misrepresented that buyers were bound to buy the policy from them when the truth was that buyers were entitled to shop around for the cheapest and the best deal. Many were never informed that they would be paying for a PPI policy, some were sold the policy despite the fact that it served no purpose and offered no benefit to them. This is the root cause of the controversy and this is the reason why victims are rushing forward to reclaim the PPI charges that sellers received unfairly.

The Different Types Of PPI

You may not have purchased PPI and yet may have become a victim of Payment Protection Insurance misselling. Ever purchased a policy under any of the names given below:

These policies are usually sold to those finalizing a loan, getting a credit card or signing a hire purchase deal.

If you have taken or have finalized any such loan in the past, then chances are high that you have become a victim of mis-sold PPI and are entitled to claim a refund.

Who can reclaim PPI?

Those who were not eligible to file a claim at the time of purchase of the policy but were still sold the same are obviously eligible to get their money back.

If the policy was included later without your agreement or consent of if it was slyly added in the form of default 'opt in' thereby shifting the responsibility of the 'opt out' on your shoulders, then you can claim. The seller will have to prove that you were asked and had consented. If you know you did not agree to purchase PPI, then you can claim.

Those who were unemployed, retired or were self employed at the time of purchase of the policy are not permitted to enjoy the benefits of PPI. If you were still sold the PPI policy, you are eligible to claim a refund.

Claims on PPI policies are often rejected if the buyer had a pre-existing condition that could potentially prevent him or her from working. You should have been warned of the unsuitability of PPI due to this complication. If this point was not clarified, then you can claim.

Did you buy a single premium PPI policy where the PPI premium is fully paid in advance by borrowing money at the same interest rate as that of your loan? If yes, then you are entitled to a refund when you cancel the PPI policy. If you cancelled or repaid the loan in advance but were not given a refund or were otherwise not allowed to cancel the policy, then you can claim.

You can claim if you were never informed about the total cost of the policy. If you were informed of the combined cost of the loan and the PPI policy, then you can file a claim.

You can file a claim if you bought PPI because you were told it was mandatory.

You can claim your money back if the seller never explained important aspects of the cover. For example, not being told about the terms and conditions applicable to cancellation of cover or major exclusions is enough for you to file a claim.

Standard PPI policies have an upper age limit of 65 or 70 years. If you were sold this policy despite being older, then you can claim your money back.

You probably will find a valid reason to claim if the seller has been subjected to action by the FSA. You should visit the FSA website to find out more about such firms and decide accordingly.

The seller is duty bound to ask you whether you have alternative protection like a redundancy package or an illness cover offered by the employer that would take care of your repayments. If not asked, then you are eligible to demand your money back.

Standard PPI policies are applicable for five years only. You will not enjoy protection of PPI beyond this duration. If you purchased PPI for a long term loan, then the seller should have explained this point before you finalized the purchase. If this was not done in your case, then you are eligible to file a claim.

Suspect you have been cheated into buying mis-sold payment protection insurance? Well, just fill the Form on our PPI Claims Direct website or call us for free at to find out whether you can file a PPI claim successfully before time runs out.

Why Call Us?

PPI Claims Direct are regulated by the Ministry of Justice in respect of regulated claims management activities Registration number CRM27182. Company registration number SC346006.