Don't just take our word for it

Read what the press is saying

"The court said the loan agreement was unenforceable under the Consumer Credit Act after the original loan company had wrapped insurance payments into the debt and then added interest and penalty payments to the total"

"The bill gives us the once-in-a-generation opportunity to prevent more people becoming trapped in grossly unfair credit deals."

"There are undoubtedly thousands, if not millions, of other unfair loans out there still to be checked."

"You may think that once you've signed a contract, it's legally binding, no matter what. But if the terms in the contract are judged to be unfair, you may not be bound by them."

What is PPI (Payment Protection Insurance)?

PPI stands for Payment Protection Insurance. It is a type of insurance commonly added to loans, mortgages, credit cards and hire purchase agreements. PPI is designed to take over repayments if the borrower is unable to work due to unemployment or ill health.

How was PPI mis-sold?

There are many ways in which PPI policies have been mis-sold. Some examples include: staff using high pressure selling techniques or misleading people into believing they had an improved chance of being given credit if they took out insurance; policy conditions and exemptions not being fully explained and costs not being made clear.

It was also discovered that many banks were selling policies to people whose circumstances made them unsuitable. For example, people who were unemployed; retired or in full time education and who, therefore, did not need loss of employment cover. Most worrying of all, it has emerged that many people had PPI policies attached to their loans without being told. This means you may have been mis-sold Payment Protection Insurance and not even realise.