Payment Protection Scotland
PPI Scotland provide a Payment Protection Insurance (PPI) reclaim service to Scotland. If you live anywhere in Scotland and feel you may have a PPI Claim, contact PPI Scotland today.
We operate on a - no win, no fee - basis, so you've nothing to lose.
The problem with PPI...
With all the media hype and articles around payment protection insurance (PPI), it is difficult to remember how or why the PPI scandal started!
The bank’s ‘own brand’ PPI was compulsory
No it wasn’t but banks soon realised that they were making healthy profits from selling PPI to customers alongside their loans or mortgages etc. In fact, financial institutions became so embroiled and comfortable in this type of selling, that some credit card companies stopped asking customers if they wanted PPI on their accounts – they added it with the customer only opting out if they became aware that they had in on their account. Many customers were not aware that the PPI policy was of no use to them...
PPI suits everyone
Consumer watchdogs and representative bodies have come to the conclusion that some PPI policies were or little or no use to the people paying the premiums and also represented very poor value for money. But why?
There are exclusions under the terms and conditions of the PPI policy meaning that very few people would have been eligible or able to have made a claim. Car insurance policies for example, pay out in over 80% of claims made but PPI paid out on only 15% of claims.
Consumers were not able or told to shop around for PPI policies as there are better value options put there. And, like other insurance policies, the more you want the PPI policy to do, the more expensive it will be. But, in this case, the PPI policy offered by the various banks and lenders was of poor value as the premiums were very high, in some cases.
PPI is a good idea...
... for some people, yes it is but not everyone. If you feel your job is unsafe, or your debts far outweigh any savings or other income you have, then securing a PPI type policy if you can afford to do so is a good idea. However, be prepared there are strict terms and conditions relating to pre-existing medical conditions, for example. You may find that in order to secure a decent PPI policy, the premiums will be out of reach.
PPI compensation – don’t be put off by a first refusal
With the latest revelation that a leading UK bank were rejecting claims in the first instance, hoping customers would be put off, have proved fruitless. UK and Scottish banking customers are savvy shoppers and know that if they had PPI on any of their accounts of financial products, then their bank or lender in all likelihood owe them money. Some customers are receiving huge sums of PPI compensation so if your bank or lender says ‘no’ – keep trying!
PPI Scotland is a claims management company and specialists in making PPI compensation claims on behalf of customers.
Contact PPI Scotland to Make a PPI Claim
Please contact us today to reclaim your PPI: we're the first call for all Scottish PPI Claims. We are one of Scotland's most successful and hardest working PPI companies. We also cover the whole of Scotland.