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Archive for tag: PPI Compensation Issues

Some Real-life PPI Compensation Issues...

Here at Payment Protection Scotland, some of the payment protection insurance (PPI) compensation cases we take on are not as straightforward and clear-cut as others. But, for the same flat fee, we work with these complex cases to get the right resolution for our customers.

Here is just one example...

I've never been one for borrowing money and apart from my mortgage and loan on a family car, we have very little borrowing to consider. So when the PPI scandal broke, I thought it would have nothing to do with me.

My wife reminded me about a credit card I had up until a few years ago. We took it out at the start of our marriage, using it to buy various essentials (but all expensive). We managed to pay it off and then I closed the account.

However, I still have the paperwork and there, ticked at the very bottom of the application form, is the box that says 'yes, I want PPI'!

But I don't think I am eligible to make a claim as the credit card provider is no more so there is no one to claim from.

PPI Scotland's response:

There are two factors that we need to check; firstly is the timeframe of when the account was active and secondly, is someone will have bought out the credit card firm - and we can find out who!

Timeframes  - time is important when it comes to claiming PPI. There are deadlines that must adhered to when it comes to claiming PPI as set out in consumer law. The account must have been active within the last 6 years - in other words, you must have been making payments in the previous 6 years, even if the account has been closed for 5 years. There is still opportunity to claim.

Who bought the credit card? - credit card companies do not simply disappear! Generally, what happens is that they are bought and sold, simply being subsumed into the bank or lenders own 'label' so to speak. Here at Payment Protection Scotland, we have access to the information to see who bought credit card companies.

No PPI compensation case to is too complicated for us here at Payment Protection Scotland. We believe wholeheartedly in consumer rights and the exercising of these rights when they have been compromised by sellers.

Banks, building societies and all manner and type of lender in the UK is believed to have mis-sold PPI to thousands of customers, taking billions of pounds from people who, at times, could simply not afford to pay out this kind of money. In fact, various consumer groups in the UK believe that many people is serious debt will have had this debt made significantly worse by PPI being added to loans, credit cards and other finance agreements.

Do you think you have been mis-sold PPI? Then contact Payment Protection Scotland today to see how we can help!