Typically Payment Protection Insurance (PPI) policies are sold alongside loans, mortgages and other credit agreements (such as car finance and in-store loans for items such as furniture or kitchens). It is also commonly known as:
Loan or Creditor Insurance Mortgage Payment Protection Loan Payment Protection Accident, Sickness and Unemployment Protection Personal Loan Protection Credit Repayment Protection
Quote taken from www.citizenadvice.org.uk
The principle of PPI is that your insurance covers periods on a loan when you are unable to meet the repayments as a result of certain events. Whilst it seems like a good idea, many people are paying far too much for inappropriate policies. These people were probably not made aware that they could buy cover elsewhere for considerably less. There are also numerous problems with exclusion clauses, which means that you may think you are covered but if you made a claim there is a good chance that it would be rejected. So in effect, not only are you paying too much but you may be paying for something which is of no use to you.
PPI policies have been sold through a number of organisations including; banks, building societies, loan companies, mortgage providers, credit card companies, retail stores, car dealerships and many more. The way in which they were sold has added further weight to the problem, for example:
Adding PPI without the customer's knowledge Pressurising customers - customers being led to believe that they would not get a loan without PPI or that it may affect Selling unsuitable policies - in relation to age, employment status, income and medical conditions, Over-insuring - customers buying PPI where they already have sufficient income protection, Not making customers aware that they can buy PPI from alternative suppliers, Not disclosing the full cost and/or rebate terms, Not disclosing terms, Not providing cover for the full term of the loan - and not disclosing this. Whether you are already paying for PPI, and If you are, whether the policy is suitable for your particular needs. If the policy is not suitable, you should question why that is. Were you given all of the relevant information when you signed up to the policy?
If you are unsure about whether the policy may have been mis-sold, contact Credit Crunch UK and one of our experienced claims advisers will review your case free-of-charge. It's easy, just call 0845 6188 525 and speak to one of our advisors or select Call Back or select Start Claim now and provide some basic details.
If we believe that you have a case and you wish to pursue it, Credit Crunch UK will handle your case on a no-win no-fee basis*. And considering that it may be costing you somewhere in between £2000 and £5000, on an unsecured loan of £8,000 to £13,000, or even £10,000 to £12,000 on a secured loan of £25,000 to £35,000, it could prove to be an extremely worthwhile exercise. Even if it involves smaller amounts, it's worth pursuing as you are likely to receive interest on top of the policy costs.
Our service is a pro-active one, designed to make your life a
little easier. We take away the stress and aggravation of pursuing unfair charges and mis-sold policies. No two claims are the same! A claim represented by Credit Crunch UK, is
based around your individual circumstances and the laws and regulations
that apply to your particular case. With Credit Crunch UK finding out how your claim is progressing couldn't be
easier. We provide our customers with regular updates and a nominated
claims manager who can be contacted at any time. Our service is backed by a team of specialist claims advisors and managers, with in-depth knowledge of industry We only receive payment when you receive payment. So you can be
confident that we will work to obtain themost favourable settlement,
in the shortest possible time. 
In order to provide a high quality service to you, it is essential
that we maintain professional relationships with the various
regulators, banks, insurance and loan companies. We work hard to build
good relationships with these organisations and don't believe in
burdening them with unsound claims. Nor do we want our customers to
have unrealistic expectations. Therefore, we only pursue claims that
have substance. If you are unsure about the strength of your claim,
just contact us. We are more than happy to talk it through with you and
assess whether you have a case.
Please be assured you will not be put under any pressure from over eager sales people.
*In certain circumstances a cancellation fee may apply as per our standard terms and conditions.
CCUK brings together legal and financial claims management expertise. We specialise in claiming compensation in relation to mis-sold Payment Protection Insurance policies (otherwise known as PPI or loan insurance). We also carry out loan-checks on loan and credit card agreements to verify if they comply with the Consumer Credit Act (CCA).