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PPI Questions

Payment protection insurance (PPI) is a product that at one time was making huge profits for the banks - but has now turned into an albatross around their necks.

With thousands of customers claiming back thousands of pounds in PPI compensation, annual profits are being hit hard but, there is a lot of information (and myths!) about claiming back PPI compensation…

I have been made an offer for PPI compensation but I do not think it is enough? How can I check?

Here at Payment Protection Scotland, we specialise in helping people claim back their money from banks, building societies and lenders. As experts with vast experience in PPI claims, we also know how to work out your PPI entitlement.

In the first instance, you can ask the bank or lender for a breakdown of how they calculated the PPI compensation they are offering you. In the early days on compensation, customers were being made derisory offers but this practice has changed. However, if you are unsure you can contact us and we can look at your case.

I accepted the PPI compensation my bank offered but have since read about 'alternative redress'. How do I know if this has happened to me?

Alternative redress is the way in which some banks have recently started to make PPI compensation payments. It does not apply to all cases but it is when a bank refunds the difference between the price of their product and the price of the next available, cheaper alternative.

For example, if they charged you £300 for PPI but the market rate was £100, they would refund you £200, as this is the difference between the two policies.

If you think you have been a victim of alternative redress you can contact us for help with this.

I am in debt and am frightened that I will be worse off or that claiming PPI will result in bigger issues for me. Can you still help me?

Yes we can.

Being in debt is no barrier to claiming back PPI compensation, although it seems that some people are reluctant to do so, for fear it will make the situation worse.

What you do need to bear in mind is that the addition of PPI to any policy will have added a sizeable amount to the loan in the first place. Some customers found that they had been told they would be paying a fixed monthly payment, only to find that this increased with the addition of PPI.

Likewise, putting aside the debt issue, you may have been sold a product that was of no use to you.

We can help anyone with an eligible, valid claim for PPI compensation - call us NOW!

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