If you've taken out a credit or store card, car finance or personal loan, mortgage or secured loan, then you may have one or more PPI (Payment Protection Insurance) policies. However, it's entirely possible that you're unaware you have PPI, because many lenders ‘bundle' it into the cost of a loan. Payment Protection Policies (PPI) are sold to cover loan or credit card repayments in case of accident, sickness or unemployment.

There is nothing wrong with PPI policies for those who need it and assuming it has been sold correctly. However, they have been systematically mis sold to millions of people.

A good sales process should fully inform you of the costs, advise you the policy was optional, give you full details and policy documents, ask about any pre-existing medical conditions you may have had, ask about your employment status and much more. In practice, these policies were often sold without much investigation in order to boost companies profit margins and commission for the advisers.

Canary Claims is a specialist PPI claims company aiming to help consumers win back their premiums on mis sold PPI policies. They have a specials web only offer of 15% + VAT fee for PPI claims and work on a no win, no fee basis.

To learn more about PPI claims [1] or how to reclaim your PPI payments, visit Canary Claims website (canaryclaims.co.uk).