Payment Protection Insurance has bee mis-sold to thousands of people with Loans, Credit Cards and Hire Purchase Agreements who did not need it or found that it was useless when they needed to make a claim.
The Central Bank is investigating all forms of payment protection insurance such as mortgages, personal loans and credit cards, to determine whether this type of insurance has been mis-sold. Payment Protection Insurance, also shortened to PPI, was commonly mis-sold by banks and lenders across Ireland. PPI was sold to people who didn't need it, want it or sometimes even know they had been sold it. PPI is often sold as mortgage protection or loan protection in Ireland and was also sold on mortgages, credit cards and loans.
How Can PPIRefunds.ie Help?
Brunel Franklin provided a dedicated service for our Irish customer who may have been mis-sold their PPI and looking to seek a refund or compensation. We can help you reclaim your mis-sold PPI:
- We offer a Free no obligation review of your potential PPI refund
- We take no upfront fees
- We only charge you a fee if we are successful in securing a PPI win
- We will look to reclaim the maximum refund plus interest
Find out today if you've been mis-sold PPI Refund
Guide to PPI mis-selling
For many people, the prospect of making a claim for mis-sold PPI can be daunting one. Brunel Franklin do all the work and can find out if you have been mis-sold PPI for certain. We have provided a brief guide to Payment Protection Insurance which may help you to discover if you have PPI on your loan or credit card...
What is Payment Protection Insurance?ExpandCollapse
PPI is a type of insurance which was sold with financial products such as loans (secured and unsecured), mortgages, credit cards, store cards and hire purchase agreements such as on a car.
The insurance was sold on the benefit that it would continue to pay your loan, credit card etc. in the event that you couldn't; due to job lose, illness or accidents.
What is PPI?ExpandCollapse
Payment Protection Insurance is sold to you when you have any kind of loan (Mortgages, Secured Loans (against property), Unsecured Loans & Hire Purchase Agreements (car or other purchases) and Credit Cards). It is a protection insurance sold to cover your monthly payments in case you have an accident, fall sick or become unemployed.
A single premium (also known as loan funded) means that you pay the full amount of the insurance up front. This is normally added to the debt, which means you end up paying interest on it for the term of the loan. Say for example, you took a loan of â‚¬5000, the insurance cost â‚¬1500, the total amount borrowed is â‚¬6500 and this is what you pay interest on. Many policies have a term of 5 years or less. However, if the term of the loan is longer, you will still be paying interest even when the policy is no longer covering you.
Are there Other Names for PPI?ExpandCollapse
Why was PPI Mis-Sold?ExpandCollapse
Many have since found that they couldn't make claims, such as the self-employed and part-time employed or that the policy didn't cover them as they had a pre-existing medical condition.
Others were pressured into taking the insurance, while others were told that they had to take it in order to have their loan or credit card application accepted. Some people weren't even told they were taking PPI and it was secretly tacked onto their loan amount.
Payment Protection Insurance was mis-sold to increase commissions and profits, which is why many agreements had the PPI box pre-ticked, making customers feel like it was compulsory.
Payment Protection Insurance was poorly explained, it provided a high commission for those selling it causing widespread mis-selling.
What can you Claim from you Mis-Sold PPI?ExpandCollapse
If you've been mis-sold PPI, we can make a claim to have all paid PPI premiums refunded to you, in addition to a write off premiums yet to be paid. We will also claim a refund on interest on any premiums that have been paid to date.
How Much Does it Costs to Make a PPI Claim?ExpandCollapse
We operate on a No Win No Fee basis, you will only pay a fee once your case has been resolved and settled. Our fee on a case upon completion is 30% of the cash received; this fee includes all relevant taxes.
How Long Will a PPI Claim Take?ExpandCollapse
Each claim is handled individually, on average it take around 6 months, however as each claim is individual some may take longer.
Can I Claim PPI if my loan has ended?ExpandCollapse
Absolutely, you can claim on previous loans, credit cards and financial agreements that may have PPI added, in the last six years.
More PPI Information
Start Your Claim for Mis-Sold PPI
We're ready to begin helping you claim back what you are owed. If you feel you may have been mis-sold PPI or you would like us to check for you, then please enter your details in the contact form to the right, or click on the arrow below. Brunel Franklin operate on a No Win, No Fee basis. So you don't pay a penny unless we win your case.