With a large quantity of PPI claims being made in the last year, it often appears that the mis-selling of payment protection insurance (PPI) is a relatively new phenomenon.

But in fact, experts argue that if you have taken out a loan in the last 10 years, and were sold Payment Protection Insurance with the loan, there is a good chance that you were mis-sold PPI.

However, many people still don’t understand what PPI actually is or why they are eligible to submit PPI reclaim documentation. There is nothing actually wrong with PPI as a product; it merely protects the person who has taken out a loan in case they lose their job, are made redundant or cannot work due to illness.

Instead, the problem with PPI arises from the way in which it was sold to the customer. Many people do not even realise they have been sold PPI, as it was often sold under the guise of many different names. If you have been sold a product that has been labeled ‘loan protection insurance’, ‘MPPI’, ‘PPI’ or something similar, it is likely that you have purchased some form of payment protection insurance.

Banks have often mis-sold Payment Protection Insurance by quoting all-inclusive monthly repayments which incorporate PPI. Instead you should have been offered a choice of two payment schemes.

It may also be the case that the person taking out the loan inadvertently ticked a checkbox to include PPI insurance, or failed to tick a box that allowed the customer to opt out of the PPI payments. PPI was often sold in this way, by presenting a completely optional payment plan as default or, just as often, as necessary to the success of the loan application. In either case, customers have a right to make a claim.

PPI is often sold more aggressively in combination with mortgages, personal loans and credit cards, so check any documentation you may have concerning dealings you had with your bank about these issues

Alternatively, you may be more comfortable leaving the claim to the professional experts. Companies such as Payment Protection Partnership, offer a friendly, personable service that specialises in PPI claims. It is usually the case that they can send out a regional expert to meet personally with you, ensuring that all information is correct and the claim more likely to succeed.


Peter has received many accreditation's including many from the Times Online. As founder of You Could Save (2005) , What Stationers (2007) and more recently, Peter Millikin (2018). Peter regularly helps consumers and national organisation ‘save money’. He believes that the only successful way to bring people together online is to provide an open marketplace where people can all work together in a friendly, unbiased environment.

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