Northern Rock PPI Claim

When the ad breaks come on during your favourite TV shows these days, there seems to always be one about mi-sold PPI and how you can make a claim for compensation.  But do you even know what PPI is and how can you tell if you were mis-sold PPi By Northen Rock this product or if you would be able to get compensation.  Many people in the UK have heard all about mis-sold PPI but are not aware that they may be affected by this.

PPI stands for payment protection insurance and it was a product that was widely sold by Northern Rock alongside loans and credit cards especially during the beginning of this century.  PPI was meant to insure us in case it came about that we could not meet the repayments on these loans or credit cards due to illness or accidents which caused us to be out of work.  If you took out a loan or credit card during this time then the chances that you also took out PPI are high.

It was found that Northern Rock often mis-sold PPI and although the lenders tried to fight this, they recently decided to give up the fight and put money aside to pay customers compensation instead.  You may be entitled to compensation if you were mis-sold PPI by Northern Rock so it is worth finding this out.  The first thing you need to do is to find out if you had a PPI policy with a loan or credit card.  Even if you do not remember taking out PPI, you should still check because many lenders added this to loans without the customer even requesting it.  If this is the case then you have definitely been mis-sold PPI and you will have a solid case for compensation.  However, even if you have agreed to take out a PPI policy, there could still be grounds for a case for mis-sold PPI.  The following are some of the ways in which PPI was mis-sold to customers:

  •     If the person you were speaking to at the time told you that you had to take it with your loan.
  •     If you felt that you would not be approved for credit unless you took out the PPI
  •     If you were working for yourself when you were sold the PPI.
  •     If the person who sold you the PPI did not explain it to you fully.
  •     If you were not asked about your medical history.
  •     If you felt under pressure to take the PPI.
  •     If you were unemployed at the time when you took out the PPI.

If any of the above applies to you then you will probably have a good case for claiming credit for mis-sold PPI.  If you are unsure about any of this then you should contact a claims company to discuss your case and they can advise you further as to your chances of being able to claim PPI.