If you have taken out any of the loan types mentioned above the likelihood is that you
may have been sold a useless payment protection policy, otherwise known as PPI.

Payment Protection Insurance enables a borrower to maintain repayments and avoid getting into
debt, should they be unable to keep up their repayments due to accident, sickness or
unemployment. Payment Protection Insurance can also be known as: Accident, Sickness,
Unemployment Cover; Redundancy Protection; Loan Protection and Mortgage Payment Cover.

However many times PPI policies turn out to be completely useless and do not cover you as
an individual. There are a number of reasons for this; normally when there have been exclusions
within the PPI agreement at point of sale. PPI is purchased at the time the finance arrangement is
made, the total amount of the PPI policy sometimes being added to the loan amount itself. This in
itself has caused serious concerns within the Financial Services Authority, who regulate and
control the sales of Personal Protection Insurance.

Regardless of your Lender: You could be owed thousands of pounds in compensation due to a
mis-sold PPI policy. It is currently estimated that there are 20 million PPI policies in force in the
UK, producing annual revenues in excess of £5 billion, around 50% of these being mis-sold.