First Direct PPI Claims
Making a First Direct PPI claim can be a daunting process. We can help you recover any money you may be owed plus interest.
If you’ve has a loan, mortgage or credit card with First Direct then there’s a good chance that you were also sold insurance to cover you should you be unable to make a payment. It is called Payment Protection Insurance (or PPI) and it can be very expensive.
First Direct made huge profits out of PPI, and they have been known to use high pressure and unlawful selling techniques to get you to sign up. Many people didn’t need PPI, often it wouldn’t actually pay out when they tried to use it and they were often covered by other policies or sick pay at work.
If you didn’t actively decide you wanted this cover, or you weren’t fully aware of all the facts, then you were mis-sold PPI and you could claim back all your premiums from First Direct.
Were you told everything about the plan? All the exclusions? How much it would cost?
PPI is also known as; Accident, Sickness & Unemployment (ASU) cover, Loan Insurance, Redundancy Payment Protection Insurance (RPPI) or Mortgage Payment Protection Insurance (MPPI).
The Mis-sold PPI-The Protection Racket
PPI should be an optional extra
First Direct have been pressuring customers into buying overpriced and unsuitable policies. People have been told that the policy was compulsory, or that a better interest rate is available with PPI. If you felt pressured into buying then we could help you make a claim.
Often PPI doesn’t pay out
Payment Protection Insurance is supposed to cover you should the unexpected happen and you can’t work. However many policies are full of exemptions and clauses that prevent people from making a claim. If all these exemptions were not clearly explained to you then your PPI policy was mis-sold.
PPI can add thousands of pounds onto a loan. A recent survey carried out by the Citizens Advice Bureau showed the cost of PPI ranged from 13% up to 56% of the loan amount. Even many of the more expensive policies don’t actually guarantee to cover your payments.
If you think that you were in any way pressured or misled when the PPI policy was sold to you then we could claim back all your premiums for the last 6-15 years.