Reclaim PPI (Payment Protection Insurance)

If PPI (Payment Protection Insurance) has been mis-sold, we will work to recover your losses

When insurance is sold with a loan, it is the responsibility of the broker or lender to ensure it is sold compliantly. If you were mis-sold an insurance product the complaint must be directed to the party responsible for the sale and not the policy provider.

Very few claims companies can help if the broker or lender has since gone out of business. The reason is simple. Very few PPI claims companies have any working knowledge of the industry and merely take a fee to refer your claim to a solicitor. We are very different as our PPI claims manager has been responsible for the sale of PPI as an FSA responsible person and knows the industry extremely well.

At Triangle Financial Services, our dedicated PPI team will endeavour to recover your losses as soon as possible without referring you to a solicitor.

How do I know if I have been mis-sold PPI?
If the broker or lender that you sold your the policy is out of business, it maybe due to the large number of claims against them. If you were sold a PPI policy that was added to your loan, after January 2005, then it was more than likely mis-sold. This means that it is unlikely you will ever be able to receive any benefit from the policy but will continue to pay for it.

How can we make such a wide sweeping statement? The FSA (Financial Services Authority) regulates the sale of insurance in the UK. They made a dramatic move in May 2009 banning the sale of PPI policies at the time a loan was sold. They would only make such a dramatic ban is there were serious flaws in the sales procedures of PPI policies.

How long does the process take?
The process of claiming a normal mis-sold insurance policy should take around 10-16 weeks due to the FSA timescales.

The process is very complicated for us when the responsible party has gone out of business and therefore the timescale is longer. To avoid disappointment the guideline is 6 months. In reality most of these are being completed within 4 months.