There are multiple reasons why you could have been mis-sold PPI, some far more prolific than others, for example not being eligible to have it in the first place.
An example of being ineligible to receive PPI could be you being unemployed at the point of sale, suffering from an illness that was keeping you off work at the time or having similar cover already in place.
Other reasons for being mis-sold PPI include unscrupulous sales techniques.
Sales staff were incentivized to hit PPI selling targets, in turn this led to those staff using underhand practices to pass it on to potential customers.
For example they told customers not having PPI would effect their approval possibilities or even saying without it you would fail in the application.
In both cases you were mis-sold the policy and in all circumstances you are owed a refund.
Often you may have had PPI on a loan, mortgage or credit card, the latter can often be where most compensation lies.
What started as one credit card with PPI could have led to a procession of cards to pay off others, moving several accounts to one for example, all of which may have had PPI.
You’ll be owed on average £3000 plus an 8% compounded interest on each and every credit cards accrued interest.
People who’ve used unscrupulous claims management companies (CMCs) can now take their complaints to the Legal Ombudsman.