Halifax PPI Claims Guide

Halifax PPI Claims Guide

The Halifax payment protection insurance (PPI) scandal reaches back to the early 1990's and continues to make headlines and impact borrowers today. But for you right now, the important questions are:

  • Were you mis-sold Halifax PPI?
  • Are you entitled to compensation through a Halifax PPI claim?

The answers to those questions are crucial because many borrowers today are discovering that they have paid thousands of pounds for the PPI. In some cases the cost of the PPI has been almost as much as the borrowed amount!

As we Claimspower  to help you answer those questions, a little background is in order. Many borrowers may not even be familiar with what PPI is—and that’s one of the reasons banks are being deluged by borrowers who were mis-sold this insurance. In fact, many who were sold Halifax PPI and paid very dearly for it never knew that it was part of the loan they were getting. However, that is only one of the ways this PPI was mis-sold.

PPI Basics

Payment protection insurance is designed to take over payments on a loan in some instances when borrowers are unable to make the payments themselves, when they become unemployed or ill, for example. In the case of the mis-sold Halifax PPI, the insurance was sold to cover a variety of loans. Halifax mortgage PPI is also known as its Total Mortgage Protection Plan. Also mis-sold were Halifax credit card PPI and general loan PPI.

If you have taken out any of these kinds of loans, there is a chance that you were mis-sold Halifax PPI and at Claimspower we can certainly help you. Above we mentioned one way that salespeople mis-sold the PPI, but it certainly was not the only way this occurred.

How Halifax PPI was mis-sold

Some borrowers did not even know that they were purchasing Halifax PPI when they signed their loan papers. This is because some loan agreements had boxes that were pre-ticked to automatically include the insurance—borrowers had to opt-out of the PPI rather than opt-in! This is a case where it was not made clear to the borrower that the PPI was, in fact, optional.

In many cases, the salespeople made borrowers feel that PPI was compulsory. Often they were pushy, making borrowers believe that they could not refuse the insurance. Other salespeople said or implied that the loan would be more expensive without the PPI.

In some instances, borrowers were made to feel that they would not qualify if they did not accept the PPI, or that the loan application process would be stopped if the borrower did not agree to the insurance.

These examples generally involve borrowers being pressured or tricked into buying the insurance. However, there are also more subtle ways the PPI was mis-sold and at Claimspower we can help you through that.

Other Ways PPI was mis-sold

Some borrowers were sold the wrong or inadequate PPI and should make a Halifax PPI claim. For example, the term of the PPI sold was shorter than the term of the loan. Other cases involve borrowers who took out a loan jointly, however the PPI only covered one borrower. Further, if you were already covered through work or elsewhere, you should not have been sold the PPI.

If you are self-employed, you may have a claim for compensation. Many times Halifax PPI did not cover self-employed individuals when their businesses went bust. If this is your situation, where you informed of this fact? Also, if you were unemployed when you took out the loan and purchased the PPI, there is a good chance you were wrongly sold the insurance.

Further, existing medical conditions would generally nullify coverage, however borrowers were often not told of this exemption. If you were not advised of this when you were taking out your loan and buying Halifax PPI, you were mis-sold the insurance. Whatever your circumstances Claimspower can untangle this maze of deceit and help you claim what is rightfully yours.

Finally, lenders such as Lloyds, RBS, HSBC, Barclays, Santander and many others have been fined for not treating customers fairly. The list of violators is extensive and you can review the main offenders here. The Financial Services Authority won its court battle against the British Bankers’ Association in 2011, resulting in up to £4.5bn in compensation to mis-sold borrowers—the number has increased since then. The exact conditions and amounts vary from lender to lender and the list of these lenders is extensive. 

Many Claims Wrongly Rejected

Above we noted that this scandal continues to make front-page headlines across Britain. Much of the news today concerns the high number of claims that are being rejected. If you have suffered a Halifax rejected claim, you need to know that you may still be able to receive the compensation that you are due.

Major media reports are detailing how thousands of PPI claims are are being rejected by banks that are not even taking the time to properly assess the merits of each case. In fact, some banks are claiming that customers never even had PPI to begin with, even though these borrowers have the proof.

Other reports indicate that the Lloyds Banking Group has been using a loophole to dramatically slash the amount of compensation owed to consumers who were mis-sold PPI.

At Claimspower we are experts at Halifax rejected claims so please don't give up let, if your claims was refused during the last 6 months we can help.

Don’t Go It Alone

The overwhelming volume of claims and the banks’ desire to deny or reduce compensation has created a difficult situation for borrowers. Although borrowers can file their own claims, in today’s climate it is much wiser to use an experienced and dedicated service.

If you had Halifax PPI for a loan, credit card or mortgage between 1995 and 2010 and suspect or know you were paying for PPI, we can help you out. First, we assign you a dedicated claims manager who makes the process easy for you—there’s no paperwork required. Your Cliamspower claims manager will tell you if you have been mis-sold, so you no longer have any doubt about where you stand. Remember we work on a no win no fee basis so there is no risk. * No Paperwork – No paper work is required in order to perform the search, however if you have any documents that support PPI policy on your account then please provide this information.

Earlier we discussed the incredible number of claims that are being improperly rejected by banks. In fact, the scandal seems to be even worsening in that regard. If your PPI claim was rejected during the last six months, we can give you the help you need, use our contact form.

Now is the Time to Act

We recently read about a couple who borrowed £40,000 from Lloyds more than 10 years ago and ended up paying almost £30,000 for Halifax PPI they were told was “compulsory.” They got virtually all of their money back. You can see that the stakes are high an at Claimspower we will do our utmost to get you the compensation.

This underscores how critical it is for lodging your PPI claim as soon as possible as you may miss out.

As you weigh all of this important information and wonder if you have a claim, we hope you realise that this is the opportunity you’ve been waiting for. With our experience and knowledge, Claimspower  can answer all of your questions and handle all the details of your claim from beginning to end.

 You can rest assured that your PPI claim is getting the personal attention and advocacy that it both deserves and requires. All you have to do is complete the simple contact form below and an expert from Claimspower team will contact you.

PPI QUERY FORM

 

Your Full Name (required)

Your Email (required)

Your Contact Number (required)

Your Current FULL ADDRESS including postcode (required)

Your PPI Query (Required) Please ensure to include borrowing type, ie Loan(s), *Credit Card(s), Mortgage(s), Amount borrowed and Duration *For CC Claims please state average debt balance per month on the card i.e. more or less than £1,000 or £2,000, £3000 or more)