What is PPI and how do I know if I’ve got it?
PPI is commonly payment protection insurance but also accident and sickness cover, or ASU – Accident, Sickness & Unemployment insurance. PPI is sold with lots of products but mainly with personal loans and sometimes with credit cards. It could be on anything you bought on credit – such as a sofa or electrical items.
You might have PPI without knowing – many companies added this without making their customers fully aware that they were paying for insurance as an added extra. You should check your paperwork.
How do I know if the PPI was mis-sold?
PPI is rarely sold at a fair price and taking into account your individual circumstances. If you took out PPI cover with a loan or credit card at the time of sale, it was probably mis-sold, and may not even cover you when you really need it. Our claims team will advise you in more detail
How much could I claim?
We will normally recover all the PPI that you have paid for so far, including interest. You will also be able to cancel the whole policy so you don’t have to make further payments. It could be thousands of pounds!
How far back can I claim?
We could help you claim for any PPI policy that you took out in the last 6 years - even if the loan is paid off.
What are the legal fees?
If your case is assessed to be worth £5000 or above it doesn’t need to cost you a penny! We will enter into a no win - no fee agreement with you so if you lose, you pay nothing, but if you win you also keep all the money. We get paid in addition to the money you recover, so you pay us nothing.
My claim isn’t worth £5000 or above – what can I do?
Unfortunately you can’t recover legal fees on cases worth less than £5000. If you don’t want the hassle of dealing with the case yourself, we will agree to take a fixed percentage of your claim – 25% plus VAT. If you lose you still pay nothing. If we can’t negotiate a settlement we will present the claim to the Ombudsman.
My claim is worth over £5000, but I don’t want to go to Court – what can I do?
Most cases will settle so you probably don’t need to worry about this. If you want, you can go to the Ombudsman instead but again you would pay us 25% + VAT of the value of the claim, unless we can settle with the lender.
How long will it take?
Some cases settle very quickly and may only take weeks to go through. Other cases may take up to a year or more. The Ombudsman takes several months to process a complaint.
I’m worried I might lose my job – don’t I need PPI?
PPI is useful insurance – the problem is that you are probably paying too much and may have cover that you can’t rely on. Shop around and find cheaper cover that takes your personal circumstances into account – so when you do need the insurance, you know you’re covered. We can point you in the right direction.
Why should I instruct a solicitor rather than a claims management company (CMC)?
If we present the case on your behalf, solicitors usually secure a quicker and/or higher settlement than you might get yourself. CMC’s already refer cases to us because they can only offer very limited assistance. They may also charge fees to you regardless of the outcome of your case.
Can I deal with this claim myself without the help of a Solicitor or accident management company?
Yes, you could but it might not be easy and if your claim is rejected you may still need legal advice.
Why should I use Donns?
These cases can involve complex legal arguments and court action may be necessary. We have already helped thousands of people and have recovered hundreds of thousands of pounds in compensation for financial mis-selling. Our specialist team can guide you through the process of making a claim and ensure that you get the best settlement for your case. We also hold the Law Society standard of excellence, called LEXCEL, which demonstrates commitment to deliver the highest levels of service.
