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What You Should Know About PPI

There are many reasons why PPI was mis-sold. We take a look at four common issues when it comes to claiming PPI compensation.

PPI Knowledge

You were told/given the impression that PPI WAS COMPULSORY


In other words, you did not have to buy it, regardless of what the bank representative told you.  

The idea behind PPI was that if you were unable to continue making payments on your loan or other credit accounts, then the PPI would kick in for a certain amount of time and payments would continue.

But you didn’t have to buy the banks own product. If they insisted you had some kind of cover, you could shop around and get a better policy with better cover at a better price.


Over the years, the banks’ attitude to PPI compensation has changed.

Initially, they were reluctant to pay anyone any money back and when they did, they made some pretty derisory offers.

However, as time has marched on and their reputation for being trustworthy taking a battering, the banks are now more willing to settle claims, and to settle them quickly.

That said, there have been some cases where customers have not received the right amount or customer claims have been rejected. The Financial Ombudsman Service are working hard on these cases.

Using to a claims management company is NOT a waste of time and money

There has been a lot written about claim management companies making disingenuous claims, clogging the system and charging customers a huge amount of money and so on.

Some people are happy to approach their bank or lender to ask for their money back but other people are not so confident to do so.

We do charge a fee for our service, just like other professional services and companies do. And we only continue to make a claim if we know you have a PPI policy.

The bank may say ‘NO’!

On your behalf, we go back to the bank or lender and ask them to reconsider their decision. If they continue to refute your claim, you can ask the Financial Ombudsman Service (FOS) to look at your case and make the final decision.  

But, FOS is dealing with a huge number of PPI cases. They deal with their caseload in chronological order, which means that there may be a significant delay, up to several months in some cases. On the positive side, however, the FOS upheld 7 in 10 of cases again favour of the customer. So, after a wait for a decision the odds are in your favour.

Payment Protection Scotland can help…

… all you need to do is call us. There is no obligation to continue with a claim with us but it doesn’t cost you a penny to find out more. Just call us!

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Scotland's Most Successful PPI Claims Company:
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