Payment Protection Insurance

‘Payment Protection Insurance’ (PPI), also known as ‘Loan Protection Insurance’ (LPI) is a £25bn+ scam, making it the UK’s largest financial scandal. Around £34million worth of PPI mis-selling claims have been between 2001 and 2010.

PPI was originally introduced by banks to better protect consumers who had taken out a loan, credit cards, mortgages, car finance and store cards. The insurance was sold to support customers who may struggle to make repayments due to redundancy, an accident or an illness which meant that they couldn’t work.

Banks and financial institutions have set aside approximately £20billion to cover the cost of mis-sold PPI claims. It is estimated that over 50% of mis-sold PPI is yet to be reclaimed.

Queensbeck’s Payment Protection Insurance team are dedicated to helping customers reclaim mis-sold PPI by their bank / lender / mortgage broker on a no-win, no-fee basis.

Payment Protection Insurance has been mis-sold for a number of reasons:

  • You did not match the criteria to be eligible for PPI insurance; you were self-employed, retired or a student
  • Lenders convinced you that taking out the policy would benefit you financially
  • You were not told about the alternative options to PPI
  • You were sold a ‘Single Premium Policy’ which meant that you had to pay for the policy upfront
  • The PPI Policy’s Terms & Conditions were not explained to you

Get in touch with Queensbeck to start your claim now. If you’re not sure if you have any outstanding PPI then Queensbeck will pay for a Subject Access Request (SAR) and investigate for you.

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