PPI claims Scotland

May 11, 2016

If you have taken out a loan or signed up for a new credit card within the last 10 years, it’s possible that you were incorrectly sold Payment Protection Insurance (PPI) at the same time.

Scotland Debt Solutions deals with Scottish PPI claims on a no win, no fee basis, so making a claim with us means you don’t need to pay any money upfront. We’ll answer all your questions, help you with any paperwork, and provide regular updates on the progress of your claim throughout.

What was the PPI scandal all about?

Payment Protection Insurance is a financial product intended to protect you should you suffer ill health or lose your job. Loan repayments are covered by the insurance policy for a certain period of time, so you don’t fall into arrears.

In the past, many people were sold this product when they didn’t really need it. Others weren’t fully aware of what they were signing up for, whilst some lenders put pressure on customers to purchase the insurance, telling them it was part of their loan agreement.

Lloyds Bank alone has been forced to set aside £14 billion to compensate customers wrongly sold payment protection insurance, indicating just how significant this issue has been.

Checking whether you have PPI

If you have taken out any of the following during the past 10 years or so, you may have been mis-sold PPI:

  • Loans
  • Credit cards
  • Mortgages
  • Bank overdrafts
  • Car finance

Having the original paperwork will help to progress your claim, but because it’s often a long time since borrowing was taken out, you may have thrown away your signed agreement.

It’s a good idea to check over bank statements for PPI deductions over the last few years. Look out for terms other than payment protection insurance, including credit insurance, loan repayment insurance and loan protection, as these may relate to the same type of policy.

What constitutes PPI mis-selling?

Some people tell us they were aware of what they were signing up for, and assume that they won’t be able to claim a PPI refund. Because of the underhand methods used by many lenders when selling this product, however, you might still be eligible.

Here are some of the main reasons why you might be able to claim PPI in Scotland:

  • The lender told you that PPI was obligatory, rather than optional, when you took out the loan/credit card
  • You already had this type of insurance cover in place, perhaps on another policy or as part of your employment contract
  • You have only become aware of paying PPI since checking your bank statements, and didn’t even realise it had been sold to you
  • You were mis-sold on the grounds of self-employment – working for yourself or your family made you ineligible
  • The lender claimed your chances of obtaining finance would be improved if you took out PPI

We will check with each lender to find out if PPI was added to the loan or credit card agreement, and let you know as soon as we receive confirmation.

How to make PPI claims in Scotland

Although banks are obliged to tell you if you’ve been sold PPI in the past, the huge scale of this task means that you could be waiting a long time. Why wait when we can be proactive by contacting lenders on your behalf?

If you believe that you have been mis-sold, we’ll help you with any paperwork and claim your PPI refund with the minimum of fuss. You’ll have the full backing and support of an established, trusted firm who work purely on behalf of Scottish residents, plus immediate access to updates from professional advisors.

If your claim is rejected

If you make a claim and it’s rejected, we can contact the Financial Ombudsman on your behalf. The Financial Ombudsman Service writes to the bank or institution concerned, requests an explanation as to why they rejected the claim, and then makes their decision.

Scotland Debt Solutions cover PPI claims in Glasgow, Edinburgh, and throughout Scotland, operating from five offices around the country. Our team of experts will work on your behalf, and negotiate for the best possible refund of your PPI payments.

John Baird

Insolvency Adviser

Tel: 0800 063 9250

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