Claims Advisory Group †

Payment Protection Insurance (PPI) is a specific type of insurance policy that was sold alongside credit agreements, such as personal loans, credit cards, HP agreements, car finance and many other types of credit.

It was originally designed to protect the consumer if they were unable to make their monthly repayments on the loan, however it has since transpired that many PPI policies were mis-sold.

It is estimated that more than 34 million PPI policies have been sold in the UK.

The manner the PPI policy was presented to you may indicate that PPI was mis-sold. Common examples of this include:

• If you were informed that it was compulsory to receiving your loan.
• If the policy was not explained.
• If your eligibility for claiming on the PPI was not clarified.

In the worst case scenarios, lenders lied to customers by telling them PPI was a compulsory element of a loan or that it would increase their chances of the loan application being accepted. In other cases they simply added PPI to the loan without consent. All of these are examples of how PPI was mis-sold.

Firstly you need to determine if PPI was added to your loan. If you did have PPI you then need to demonstrate how the PPI was mis-sold, to show that your PPI claim has merit. Claims Advisory Group can help you determine if you were mis-sold PPI and make a PPI claim on your behalf. Please click here to start making a claim.

Your PPI claim could take anything between 12 weeks and 18 months, depending upon the complexity of your case, the swiftness of response from all involved (including the lender, you and in certain cases the Financial Ombudsman Service or the Financial Services Compensation Scheme), and the speed of returning key information.

The amount you will be reclaim for your PPI claim will entirely depend on the amount of PPI that has been paid. As a very rough figure (as this varies from lender to lender) PPI added around 30% to the cost of a loan. Our average paid out per PPI compensation claim is approximately £2,500.

The largest successful PPI claim that Claims Advisory Group have achieved was for £47,972.78.

Claims Advisory Group work on a “no win, no fee” basis so you have nothing to lose by enquiring as there are no upfront fees to worry about. Please note that fees may be payable if the case is not pursued at the client’s request. Our fees are clearly explained pre-sale during the initial conversation.

Here are just a few reasons why customers choose to use Claims Advisory Group's PPI services:

• We understand the PPI process and have extensive experience dealing with (and negotiating with) lenders, the Financial Ombudsman Service and the Financial Services Compensation Scheme
• We process thousands of claims a week and recover millions of pounds each month on behalf of our clients
• We are one of the biggest claims management companies in the UK, with plenty of experience in the field
• We operate on a no win, no fee basis* so you will not be left out of pocket if your claim is not upheld
• Please visit our Testimonials page to see what our clients have said about us

Providing you follow the correct procedure when making a PPI claim, then your credit rating should not be affected by making a PPI claim. The “Treating Customers Fairly” Initiative from the Financial Service Authority, stipulates that if a financial product was found to have been mis-sold then the customer should not be negatively affected by seeking redress. It states that: “making a claim on a mis-sold product or policy should not affect your credit-rating at all”. Therefore, if you have been mis-sold PPI any compensation received should not have any negative effect on your credit rating.

Yes, you can make more than one PPI claim. You can have multiple PPI claims running simultaneously, even with the same lender, providing you have different PPI policies that were mis-sold. Please note though that due to the differences between lenders and individual policies, the PPI claims may be settled at various different times.

At the Claims Advisory Group we work on a no win, no fee* basis. If we are successful with your claim, we will charge a fee of 39% of the value of the settlement. In other words: should we be successful in reclaiming £3,000, the success fee payable will be £1,170. The only other occasion that you may have to pay is after the initial 14-day cooling-off period you should decide to cancel our contract. A fee will then be payable which reflects the work done on your behalf up to the point of cancellation. We do not charge upfront fees.

If the claim is carried to its conclusion and is not successful, you will not be charged for any work carried out on your behalf.

PPI was mis-sold by many high street banks, building societies and other lenders and was added to a wide number of credit agreements including:

• Personal loans
• Mortgages
• Credit cards
• Store cards
• HP agreements
• Car finance
• White goods (fridges, freezers etc.)
• Home furniture (sofas, dining tables, carpets etc.)
• Secured loans