Poles being mislead into purchasing PPI  - 8th December 2011

The UK is in the middle of a financial mis-selling problem in relation to mis-sold payment protection cover or “PPI”. This cover is added as an insurance extra on to mortgages, loans and credit card debts that borrowers have. The insurance which can be a valuable benefits when marketed correctly, it has been prone to overcharging and in many instances has been completely mis-sold to individuals who could never benefit from the insurance given their circumstances.

This cover is best suited to people who are in employed and through no fault of their own lose their job. It follows that the cover is not suiteable for those who are self employed or already suffer from illness or ailments. However thousands of people in this group were mislead into buying the PPI cover. Many Polish nationals have wrongly assumed the cover was compulsory for them in agreeing to the loan / credit card. This has never been the case.

For more advice on PPI compensation claims contact a solicitor specialising in financial mis-selling cases.