Was I mis-sold PPI and do I have a claim?

The most obvious issue to consider is whether or not you actually needed the Payment Protection Insurance policy at the basic level but there are several reasons why you might be entitled to claim for a refund as follows:

The bank or lender told you that you had to have PPI. For example did they tell you that if you didn't protect the loan or credit card then you wouldn't get it or that you would be more likely to be approved if you took out a PPI policy. Either way if you were coerced or misled into taking out a PPI policy then you have a legitimate claim to a refund.

You never actually knew about the PPI policy being added. It is only now with all of the media coverage that you investigated whether you had a PPI policy attached to your loan, mortgage or credit card. In instances like this the PPI was added to the agreement without the borrower being fully informed and unless you looked through your paperwork in detail at the time then you would not have been aware of it. The onus was on the bank or the lender to inform you at the time and if they didn't then you have a valid claim to a refund.

The PPI policy didn't or doesn't actually cover you properly. If you were or are self-employed, part-time, freelance or retired then it is highly likely that your PPI policy won't cover you. The duration of PPI policies is usually for up to five years. However, if your credit agreement was for a longer period then the PPI was mis-sold. Again, if there was more than one person on the credit agreement and yet the PPI only covered one of you then it was mis-sold.

The PPI policy was too expensive. Some Payment Protection Insurance is so expensive that you would barely cover the cost were you to claim on it and in these instances you were misled and mis-sold the policy.

The PPI was sold to you as part of a debt consolidation package. More often than not if the PPI policy was sold to you as part of a debt consolidation loan then it wouldn't have been suitable and you could be entitled to a refund.

If any of the above issues apply to you then you are entitled to reclaim your money. Find out how to claim back PPI