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How to Make a PPI Compensation Claim

The complete and straightforward, no-nonsense Payment Protection Scotland guide to claiming your money back

Statistics reveal a heart-warming picture for the customer making a claim for PPI compensation against banks and lenders: 85% of PPI compensation claims are being upheld in favour of the customer by the banks.

Of those PPI complaints that are submitted to the Financial Ombudsman for resolution, the vast majority are upheld in favour of the customer too.

The average pay-out is around £3,000 but you could claim much more than this, or your compensation claim may be less.

How to find out if you were mis-sold PPI

If you had a mortgage, credit card, loan store card, car finance etc. you may have been mis-sold PPI.

Payment protection insurance (PPI) was sold at the same time you took out a loan, credit card, mortgage, car finance deals and so on. The idea was that PPI would cover monthly payments on your credit agreement if you became too ill to work or lost your job.

But, in reality, PPI policies didn't pay out when people expected they would. This meant that many people who thought they had cover for when things went wrong, found that the policy didn't help them when they needed it most.

Sales staff didn't explain the policies properly. For example, people who were self-employed or with pre-existing medical conditions were not told that they were not covered by the PPI policy. In other words, they were paying for an insurance policy that offered them no cover at all.

There is also a possibility that you 'bought' PPI without realising it. In some cases, PPI was not explained to the customer at all - it was simply added to the account as part of a 'packaged' approach - or you may have been given the impression that you had a better chance of being accepted for a credit card or a loan if you bought PPI.

All these assumptions and sales talk is wrong. And now you can claim compensation after being mis-sold PPI.

Make a Claim for PPI compensation with Payment ProtectionScotland

You can make a claim for PPI compensation yourself. Look at your bank or lender's website as there should be details on there on how to go about it.

Other people prefer to use a professional and reputable claim management company, like Payment Protection Scotland, who specialise in PPI compensation claims.

You will need to know on which accounts you have PPI - and we can do the rest! We chase the bank or lender, we check any PPI compensation settlement they offer you and we can advise you every step of the way. We charge a fee for this service. Talk to us today!

Understanding PPI

In November 2015, the Financial Conduct Authority (FCA) published an analytical report relating to payment protection insurance (PPI) claims.

Some think that this report, completed by ComRes, will form the basis of the promised PPI compensation campaign pre-June 2019 deadline.

The report showed some interesting findings.

Has everyone heard of PPI?

Of the population aged over 18 years of age, 74% have heard of PPI. Of this group that have heard of PPI, 77% were aware what the issues and problems were with it.

Understanding is not as widespread with only 42% of people believing they have agoodunderstandingof what PPI was, with 46% saying they havesomeunderstandingof it and 12% say they haveno understandingof it.

One in nine people were unsure if they had PPI which broken down over the population, amounts to 8% of the UK population having no idea if they have or had PPI. 3% said they really didn't know if they had PPI.

What is even more worrying, of those that say they were unsure if they had PPI, half of them (49%) said they were unlikely to check if they did! 37% said they were more than likely to check and it was the prospect of winning compensation that was the main driving force.

The PPI compensation claiming process

Around half of those who have or had PPI made a complaint about the policy, with people who have potentially more than one claim, complaining about at least one of the policies.

Three in 10 people use a specialist claim management company like Payment Protection Scotland. Of those that made a complaint direct to their back, 59% said the process of claiming compensation was relatively easy.

Nine in 10 people who had complained about PPI received compensation but 85% of those that had claims were satisfied with the compensation they received.

Triggers for making a PPI compensation claims

Whilst claiming compensation is considered the main driving force, what prompts people to make a claim is interesting;

  • 27% of people said it was media news stories about how to complaint
  • 20% said they claimed after receiving a letter from their bank or provider
  • 19% said it was media adverts on how to complain
  • 18% said they decided to claim after a telemarketing call

The sample size of this survey was significant - 20,000 people were interviewed - and some of the statistics are interesting about how people view PPI, the whole saga, as well as how to claim PPI compensation.

Why not find out more today? Call Payment Protection Scotland now.

Behind the PPI Facts and Figures

Billions of pounds in compensation / Millions of PPI policies mis-sold / Millions of people affected.

When we see the staggering amounts of compensation paid out to customers who had been mis-sold payment protection insurance (PPI) policies, it is easy to forget that behind these facts and figures are real people.

And you are one of those 'real people'.

Have you been mis-sold PPI?

In some ways, it should be an easy question to answer but, as you will see shortly, there are many factors that interfere in being able to give a straight answer.

I. You didn't know you had PPI- many people will answer no to the above question because they assume they don't have PPI, after all, you would remember buying an insurance policy, wouldn't you? But, PPI was added to thousands and thousands of accounts without the prior consent, knowledge or permission of the account holder. Has that happened to you?

II. You agreed to buy it- some customers think that because they agreed to buy the policy, they won't be entitled to their money back. But, how confident are you that you were told everything about the policy? Did you know about the exclusions under the policy? Did you know that you probably weren't covered by the policy? Many customers were simply unaware that there were significant exclusions under the policy and that they were paying for something that of no use to them. If you had known these things, would you have still willingly bought the policy?

III. It contributed to debt -people borrow money to fund expensive purchases, such as the family car. For others, it is a way of paying important things, such as re-modelling of a property. No matter why you borrow money, making sure you can afford to make repayments is essential but, when PPI was added on, it could make it difficult for people to afford the loan. This sometimes added fees and costs to the account but, the good news is, we may be able to claim these costs and fees back too.

Can we help you?

If you have a claim for mis-sold payment protection insurance (PPI), we can help you claim your money back.

We need to know that you have a PPI policy or policies - we can help you check - and then we need your permission to act on your behalf: this process takes next to no time! You could have PPI compensation in your bank account in time for the New Year!

Why not call us today to find out more about PPI compensation claims?

What IS the Problem with PPI?

As an insurance policy, PPI has been barred from sale. In some ways, it wasn't the insurance itself that was at fault but a combination of factors. As a result, this made for a mis-selling saga that has rocked the British banking industry to its core.

It was expensive

One of the original reasons why PPI came to the attention of various authorities was the fact that it was very expensive, especially for the low level of cover that it offered.

Add to this the fact that as a customer, you were probably not encouraged to shop around and get a cheaper deal, with a better insurance product. In other words, you were given the impression that their own brand of PPI was the only one you could buy.


It was a policy that was mis-sold to millions of people. Some people were told they had to buy it; others were told that PPI and the loan were a 'package' and that they have to be bought together.

Other people were given the impression that it was the best deal for them because they were advised to buy it. The rules around advised sales have now been tightened - if a customer is advised to buy a financial product, they have to have the reasons why it is the best policy laid out in a written document.

Complex, complicated and overly long claim process

If you had tried to claim on you PPI policy, you will have been disappointed to find that it took a long time for the claim to be processed.

And, after all this time and complex forms to complete, you will have been disappointed to find that your claim was not valid.

This is because the terms and conditions of the PPI policy were so narrow that it was almost impossible to make a successful claim. In fact, some statistics suggest that less than 15% of claims on PPI policies were successful - compare this to car insurance claims which number 85% or more successful claims against policies and you can see and you can see what the problem is.

You may be able to claim all your money back

Since the problems with PPI were discovered, 40% of people who have a claim for compensation after being mis-sold PPI have claimed their cash back - are you one of them?

If not, you may be looking for help with your PPI claim. Call Payment Protection Scotland today for more information.

PPI, Deadlines and the Plevin Case

You may remember that some time ago, a consumer won a ruling against the company that sold her PPI for failing to disclose the amount of commission they were being paid for selling her a payment protection insurance (PPI) policy.

Many financial experts have been left wondering how the outcome of this case will affect PPI claims made in the past and those to come. It could mean that customers are entitled to yet more PPI compensation.

Financial Conduct Authority

The Financial Conduct Authority (FCA) is the baking industry regulator and as yet, they have yet to release full guidance on the Plevin case and its impact on PPI claim, past and future ones.

The FCA has been consulting on a PPI complaints package, looking to end PPI claims for compensation but also to understand the impact of the Plevin ruling.

The FCA have been consulting on;

  • The approach to fairness and redress in PPI claims
  • To reflect any previous rebates when customers cancelled PPI to be considered when reflecting the final PPI payment
  • To address and clarify how firms and banks assesses fairness and redress where commission or profit-share rates vary

Putting a deadline in place

Previously, the FCA would not entertain the notion of a PPI deadline simply because the numbers of customers yet to make a claim was significant. Some critics argue that the case has not changed with only 40% of people who have a claim have yet to do so. That leave 60% of people with a PPI compensation claim yet to claim their money back.

Andrew Bailey the head of the FCA says that "Putting a deadline on PPI complaints will bring the issue to an orderly conclusion in a way that protects both consumers and market integrity".

With the impact of the Plevin case yet to be measured, it would seem that the June 2019 deadline for new PPI compensation claims looks set to stick.

What this means for you

As a consumer who was possibly mis-sold PPI, you need to be clear about whether you intend to make a claim for compensation or not.

Once the deadline has passed, you will have no form of redress to claim your money back. This could be anything from a few hundred pounds to thousands of pounds.

Can you afford to let this money slip through your fingers? Why not contact a reputable and trusted claim management company specialising in PPI compensation claims? Contact Payment Protection Scotland today.


Questions About PPI?

You need to get the right answers with up-to-date information about making a claim for mis-sold payment protection insurance (PPI). And where better than Payment Protection Scotland, a leading, reputable claim management company specialising in PPI claims in Scotland?

My bank has said no to my claim for compensation after I think I was mis-sold PPI. I have heard I can take me case to the Financial Ombudsman but I don't know how to do that. How do I go about lodging my complaint and is it worth it?

The Financial Ombudsman are the people to turn to if your bank or lender has refuted your claim for PPI compensation.

You will find full details of how to do this on their website - you can submit your claim online. The process is relatively simple, with the form taking you through your claim step-by-step.

However, some people can find it daunting to complete these forms, especially as they are unsure what they need to be telling the Ombudsman to get their money back.

Payment Protection Scotland can help with your claim for compensation either by submitting it to your bank or lender in the first instance, and following it up by submitting your case to the Financial Ombudsman if necessary.

What can I do if I think that the compensation being offered is the wrong amount? I had the PPI policy for years and yet they are offering me a few hundred pounds. I have calculated that my premiums alone are nearly three times the amount that they are offering.

You can ask the bank or lender for a breakdown of the compensation and how much is being offered and why they arrive at this figure.

You do not have to accept the offer that they make. Some customers have only to realise that they were entitled to more.

If you are unhappy with how your case is being handled, you can ask Payment Protection Scotland to become involved. We can present the bank or lender with a clear breakdown of what we calculate is owned to you but if they continue to dispute it, you can submit your claim to the Financial Ombudsman.

What does no win, no fee mean? I see many claim management companies advertise their services this way.

It means exactly what you think: if we are not successful in claiming your money back, we don't charge you.

Why not call us for more information? There is no obligation when you call us to continue with your claim.

What Were the Issues With PPI?

Knowing what the problems were with the most mis-sold product in banking history, means that you have a stronger case when it comes to claiming payment protection insurance (PPI) compensation.

There were many problems with PPI…

It was expensive

The more an insurance policy covers, the more expensive it tends to be. PPI offer very little cover but was incredibly expensive.

The problem was, people were not made aware of their consumer rights and so were not told that they could shop around. This meant that people bought a poor-vale-for-money product when they could have got a much better insurance policy, for a lot less.

It was ineffective

What many customers did not realise at the time they were sold the policy, was that PPI was structured in a way that made it very difficult and complex to make a claim.

With an insurance policy, you would hope that in the event of a claim, they would react quickly. In most cases, insurers do but in the case of PPI, making a claim was complicated.

If you claim was successful - and this was unlikely - it took several months for the policy to kick into action. This in itself is deemed as unacceptable.

It was mis-sold

Many customers were given the impression PPI was essential and compulsory.

A bank or lender can insist that a customer protects their investment or loan with some kind of insurance policy. But they cannot insist that it is their product and their product alone.

You can shop around and compare policies, probably like you do with energy prices, car insurance, home insurance and so on.


The pay-out rate on PPI policies was 15%. On car insurance, over 85% of claims are successful thus, you can see the discrepancy between the pay-out rates.

The sad fact is, many people thought they had done the right thing and that they were protecting their debt against a loss of income. When they became too ill to work, they turned to PPI to cover their repayments. At a time when they were vulnerable, the policy did not pay out.

This simply added to their stress and worries, a situation that was wholly unacceptable.

The time has come to claim your money back

If have a PPI policy, the chances that it was mis-sold to you are high. You could claim all your premium payments back, as well as interest and any costs or fees that were incurred on your account because of PPI being added to it.

Payment Protection Scotland can help on a no win, no fee basis.

Can I Have my PPI Pay Out in Time for Christmas?

This and other questions answered by the expert team at Payment Protection Scotland

With so much information on payment protection insurance (PPI) compensation claims swirling around, it can be hard to find the answers to key questions.

We have gathered some of the questions people commonly ask us, and answer them in this handy guide.

Can I get my PPI compensation cheque or pay-out in time for Christmas?

Some PPI compensation claims are straightforward. It is clear that the customer has been mis-sold PPI and the banks are now keen to compensate people as quickly as possible. If this is the case, your claim could be resolved in weeks although we are not guaranteeing a bumper Christmas!

In other cases, PPI claims are more complex and can take some time to resolve. You may also want to refer your claim for PPI compensation to the Financial Ombudsman Service. If you do, it can take several months to the outcome.

By starting your claim today, it may be possible to have a PPI pay-out before Christmas - but not guaranteed!

How can I work out how much my PPI compensation claim is worth?

There are several factors to consider:

  • How many years have you had the policy?
  • How many premiums did you pay and what was the value of each? - on credit cards, this amount will vary from month to month but on other products, the premium may have been the same every month
  • Are there are fees or costs associated with the PPI being on your account?
  • Add compensation at a rate of 8%

It can be complex working out how much PPI compensation you are entitled to. Why not give the team a call at Payment Protection Scotland?

What do Payment Protection Scotland need to see from me regarding a potential claim?

We need to be confident that you have PPI and we need to know the circumstances of how and why this policy was sold to you.

You will also need to sign a form, granting us permission to make a claim on your behalf.

How much will it cost to make a claim for PPI compensation?

We charge a flat feeif your claim is successful. If your claim is not successful, you are not charged anything. This is known as a 'no win, no fee' agreement. You can make a claim yourself too.

Find out more, call us today!

Barclays Add More Money to Their PPI Fund

At the start of the year, banks were telling us that they thought this last round of PPI fund top-ups would be the last. They implied that there were not many more compensation claims for mis-sold payment protection insurance (PPI) to come.

And yet, as this year draws to a close it seems that this is not the case, with Barclays announcing in late October 2016 that they were adding another £600 million to the PPI fund. This brings their total PPI provision to £8.4 billion.

But why the increase?

Some financial experts suggest that the PPI deadline of June 2019 announced by the regulator, the Financial Conduct Authority (FCA), has something to do with it.

This is not the first time the idea of a compensation deadline has been muted but it is not the date that the banks were expecting.

They assumed that the FCA would opt for a two-year deadline. By opting for June 2019, the banks have just under another three years left to process claims and compensate customers.

There is no doubt the banks were hoping for the PPI problem to go away much faster.


Some say that the outpouring of compensation is hitting profits hard but it doesn't appear to be that way for this bank. Barclays is reporting a 35% rise in third-quarter profits, boosted by its investment banking business.

By the end of September, pre-tax profits stood at £837 million, a profit margin that is not too shabby at all. Overall, Barclays profits are up 40% compared to the same time last year. Investment banks in general have been posting strong profits, and Barclays is no exception.

What does this mean to YOU?

What it means is simple - Barclays now that there are a many more PPI compensation claims yet to be made against it. In effect, it along with all other UK banks and lenders, are bracing themselves for an influx of PPI compensation claims in the coming years.

What this means is that if you have a claim for PPI compensation against Barclays bank, you need to get your claim to them as soon as possible.

Most cases are resolved quickly which could mean a bumper Christmas this year, with your PPI compensation in the bank!

Payment Protection Scotland can help you make a claim against Barclays and any other lender in the UK who mis-sold you compensation. Call us to find out more right now!


Lloyds Set Aside Another £1 billion for PPI Compensation Claims

Payment protection insurance (PPI) is the most mis-sold product in British banking history. It has become a thorn in the fleshy side of the banks and lenders, with customers ensuring that when they claim compensation, they are getting back every penny that they are entitled to.

The banks have had a rough time and with the PPI deadline confirmed by June 2019, it is not going to end any time soon.

This extended compensation deadline has been the catalyst to banks adding more money to their PPI compensation pots.  Lloyds announced an additional £1 billion, with Barclays following suit the next day with an announcement that they too, were adding more money to their compensation fund.

Poor profits

Unlike Barclays, however, Lloyds has not been as fortuitous in terms of maintaining its profits. At the end of September, Lloyds announced a 15% decline in pre-tax profits, racking up only £811 million in profit.

Total income for the bank in the third quarter of the year also fell by 1% to £4.27 billion.

And PPI is not its only problem. There is also an issue relating to how packaged bank accounts were sold. The banking group have set aside £150 million to cover the cost of what is termed as 'conduct issues' in relation the bank account products.

Disappointing results

The profit figures are disappointing for the banking group, 9% of which is owned by the state. The Government were initially to sell of its remaining shares but have now scrapped plans to do so, preferring instead to sell 'tranches' of shares to investment specialists. Possibly, this is needed to shore up the bank and drive it out of the financial quagmire it seems to have found itself in.

Do you have a PPI compensation claim?

Many people bank with banks and lenders who are part of the Lloyds Banking Group. It is the biggest banking group in the UK thus, you could have a claim for PPI compensation against one of its banks or lenders.

You can make the claim direct to them or you can use a specialist claim management company, like Payment Protection Scotland. Many people choose to use a claim management company because it makes their life much simpler - and they hand over all the responsibility of making and chasing the claim to an expert team.

To find out more, call us for a no obligation chat. Better still, we take on all claims on a no win, no fee basis - and that means what it says: you only pay us, if we win your case! Call now.