Are You A Victim Of Ppi Mis-selling?

Have you got a loan or credit card? Was it taken out in the last six years? Answered yes to both questions? Then there is a chance you have Payment Protection Insurance (PPI), it could have been mis-sold and you could be in line for 3000.
What is Payment Protection Insurance you may ask? Well, Payment Protection Insurance or PPI as it is more commonly known, is what it says, insurance to protect your payments, well that is was it was designed to do. Taken out alongside mortgages, personal loans, credit cards and finance for high value products such as cars and furniture, PPI is designed to cover your monthly payments if you are unable to repay them because you have been made redundant or you are unable to work due to accident, illness or injury. However many cases of PPI being mis-sold and customers with policies not being able to claim, have left the product not exactly doing what it was designed for.
Like the supermarket cashier incorrectly scanning an item through the checkout you didn"t want, and you not realising until you have left the shop and arrived home, PPI was added to many people"s finance without their knowledge with them only realising after they had started paying for it.
Or like in the DIY shop, when you are told you need a tool for a job when in fact you don"t, PPI was also sold to people who didn"t need it. You may have been sold a payment protection insurance policy although you already were covered by an employee benefits package or you already had another insurance policy in place.
Or it could have just been a case of clear mis-selling, the person selling the policy perhaps implying you would have a better chance of obtaining finance by purchasing a PPI policy or just feeling generally pressured to purchase the insurance. There is evidence that shows all of these instances have taken place, as has, shockingly, customers being sold a PPI policy that they could never claim on. These customers could have been retired, unemployed or self employed when the insurance was taken out or they could have had a pre-existing medical condition that could have stopped them working, leaving them ineligible to claim.
Millions of cases of mis-sold PPI are understood to exist, with the Financial Services Authority (FSA) saying it expects an additional 2.75 million complaints about mis-sold insurance policies to made to banks across the next five years.
Well known lenders such as Alliance & Leicester, Egg, Capital One and HSBC have all been fined millions of pounds for mis-selling the insurance, so you won"t only have been affected if you were dealing with a small company.
Mis-sold Payment Protection Insurance, you could have it and the average customer is owed 3000 in payments made for the insurance.