PPI Claims Scotland

PPI Claims Scotland

PPI Claims in Scotland can be made by PPI Claim Scotland, but is PPI a good thing. The article below lays out the case:

Payment protection insurance – worth the money you pay?

With so much media attention around payment protection insurance (PPI) and its mis-selling by banks and lenders in the UK, it has left many consumers confused as to whether they should bother with PPI or how much they should be paying if they do opt for it.

There is no doubt that a PPI type policy can be a good thing, if you can afford it alongside other major insurance that are now deemed essential. Clearly, before considering PPI, many financial advisers suggest that you take into account the more essential insurance over and above PPI – such as car insurance and home and contents insurance. PPI is a good idea if you have a lot of debt, not enough savings (if any) to cover your repayments in the event you did lose your job etc. or if you feel that you job currently is under threat and redundancy is a real possibility.

But, get a good deal!

Shop around - one of the major mis-selling reasons behind PPI from the mid-1990s onwards, was that banks and lenders told customers that their ‘own brand’ of PPI was compulsory. This was not the case and in fact, with the various judicial reviews and rulings, one fact stood out above all others: PPI policies sold by banks and lenders were not value for money and customers could have gained a better deal by shopping around.

As with all insurances, shop around to get the best quotes for the policy cover you need and want. Remember, the more the PPI policy covers, the more you will pay.

What is covered... and what is not?

Check carefully the terms and conditions of the policy and take not of what is covered and what is excluded. Many of the mis-sold PPI policies were of no benefit to many of the customers who are now being compensated. As well as significant exclusions not being explained to customers, many people also found that they various illnesses and conditions were not covered by the PPI policy.

Therefore, check carefully;

  • Are pre-existing medical conditions covered by the policy?
  • Are various employment statuses covered by the policy e.g. self-employment, retirement etc.
  • Is there a ‘lull’ period during which PPI will not pay out? Some policies only start payments after 13 weeks.

PPI was mis-sold on a huge scale and now customers are being compensated for this mis-selling. Many banks and lenders simply added PPI onto accounts without the knowledge or permission of the account holder. Neither was PPI value for money, adding significant debt onto a loan or credit card whilst offering poor cover.

If you have a loan or credit card and, on examining your paperwork, you find you have PPI, you may be eligible for compensation. PPI Claim Scotland is a claims management company that specialises in making PPI compensation claims on behalf of its customers. If you life in Scotland and think you have a PPI compensation claim, contact us today to see how they could help.


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PPI Claim Scotland is a branch of: Payment Protection Scotland.

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