Payment Protection Insurance commonly known as PPI is a product which should have been sold to cover finance such as loans, store cards or credit cards in the event of certain circumstances such as illness or not being able to work.
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However, the product was both unwittingly and purposefully mis-sold to thousands of consumers, who either did not know they had it or were led to falsely believe it would offer protection, when in fact it wouldn’t.
So if you’ve ever taken out a loan, mortgage or credit card then there is a chance you could be owed PPI. It’s now also worth looking into your larger spending.Recently Argos and Homebase have allocated £25million in compensation after customers were mis-sold PPI on retail items ranging from Televisions to Kitchens.
PPI was offered to Argos and Homebase customers who bought goods on credit through their financial services department.
Commenting on the subject, Marc Davison Head of Financial Mis-selling for TLW said:
‘The recent announcement from the above retailers clearly indicates that PPI mis-selling was even more prevalent than once thought, it’s worth a check as you could still be owed from forgotten purchases you made through that store or credit card, the majority of our claims involve clients who were unaware of any PPI being added to their borrowing’.
For more information on how we can help with financial mis-selling claims including PPI or to speak about any of our legal services at TLW Solicitors, call 0191 293 1500 or email info@tlwsolicitors.co.uk
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