There is a large force behind the phenomenon of mis sold PPI in the UK. The truth is, around ninety percent of people who have paid for their mortgage loans (or any other loans for that matter) might not have even realized that they were under coverage for the payment protection insurance. A lot of these people will never know that the PPI was protecting them, and a lot of them don’t even know that it was for their own needs, especially for low risk customers.
There are a lot of examples where people unwittingly “buy” PPI policies. Let’s tackle a few of them and see if you ever encountered any of these. Who knows, when you check your bills, you just might see the word “PPI” in them.
You use your credit card in order to avail of a special discount. What you didn’t know was that you are now enrolled in the shop’s discount program with an attached PPI policy in it.
You just got off paying a large loan, and you breathe a sigh of relief that you have paid your dues already. What you don’t realize was that you’re still paying for the PPI. Even though if the loan was already finished.
You were sold PPI and you were aware of it. What you didn’t know was that the PPI lasted only half of the time you needed to pay your loans. When you needed to use your PPI, you realize you are out of its coverage period.
If you encounter any of these, you can file in a missold PPI claim with the help of a solicitor.