PPI was sold to borrowers in Glasgow alongside credit products because it was meant to help repay some or all of their borrowing should they have lost their income for a period of time.
Typically this loss of income could have been as a result of:
- An accident
- Becoming employed
- Through sickness
- Through death
The most common sold types of PPI were:
- Single premium policies on unsecured loans – Generally this was round 48% of PPI policies sold
- Credit card PPI – This was around 36% of the policies sold
- Regular premium policies on loans or morgages – This is around 15% of policies sold
PPI wasn’t fairly straightforward, meaning that it had complex premiums and benefits along with detailed policy conditions. Some of these policy conditions were based on:
- Eligibility criteria
- Exclusions from cover
- Limitations to benefits
When it was first found that PPI was mis-sold it was estimated that the total bill for the banks would be around £4.5 billion, however, as of July 2015 the total paid out so far for mis-sold PPI had already increased to £20.5 billion!
The fact that PPI was mis-sold on such a massive scale means that you have every reason to wonder if you have been one of the victims.
Before any PPI claims can begin it’s important that you establish whether or not you actually have PPI. This is because generally the bank would add on the product without the customer’s knowledge or their agreement.
If you have found that you did in fact have PPI or you know that you did then you should check where it is that you have PPI and how many policies it is that you have. Should you have all of the records of your finances and the paperwork then a PPI claim would be fairly straightforward, however, if you don’t then other measures will have to be taken to gather that information.
Here at our company we specialise in PPI claims and have successfully helped hundreds of clients in Glasgow. We’ve got a reputation as being one of Glasgow’s leading PPI claims companies, this is because other PPI companies can only find records from 10 years ago whilst we can find records from up to 21 years ago.
We will act on your behalf and help you with all aspects of your claim regardless of whether or not you have all of the relevant paperwork. Our team offer a personalised service and aim for 100% customer satisfaction so you can expect only the highest quality of customer service.
When you come to us you can expect one of our team to sit down with you and discuss whether or not you had PPI in the past. At this point we’ll discuss all aspects of your claim i.e whether or not you have the paperwork or whether or not you think that you’ve been mis-sold PPI without even knowing. If you don’t have your paperwork at all then we’ll arrange for there to be a full subject access request, this is a request that’ll find all of your records up to 21 years ago. We’ll then continue with the rest of your claim.
For more information simply fill out our contact form or give us a call and we’ll arrange for you to come in and discuss your claim.