Payment Protection Insurance Redress, or sometimes called 'loan protection' is an added charge on your monthly payments. It can be applied to Credit Cards, Loans and Mortgages and can also be purchased as a separate 'stand alone' policy.
Insurance products will include items such as Breakdown Insurance for your car, Travel Insurance, Mobile Phone Insurance and Gadget Cover.
Lifestyle products could include items such as Early access to special events such as concerts, Cinema Tickets and Magazine Subscriptions.
Some banks will give clients who purchase Package Bank Accounts lower interest rates, overdrafts and also Mortgages.
These benefits seem excellent on face value, however, far too many consumers have discovered they have been paying for something they are unable to claim for.
Choice Claims can assess your claim and advise if we believe you have been miss-sold a package bank account. Our team knows where the banks have cut corners or not advised you as they should have. Get in touch for us to start your claim. You may have been miss-sold for one or more of the following reasons.
In some cases standard accounts were upgraded to package bank accounts without knowledge of the consumer. If you did not agree to an upgrade this could be you.
Especially in the case of Insurances there are often specific eligibility criteria a consumer has to meet. For example travel insurance usually has an age limit. Were you informed of these criteria?
Was the extra cost that you paid on a monthly basis made clear to you and was it affordable for you? If not then it's possible that you were miss-sold.
In the case of gadget and phone insurance consumers have to register individual items to qualify for the insurance. Without doing this you would not have been covered, were you aware?
Banks are not allowed to imply that a Package Bank Account could improve or guarantee your chance of getting Finance. If this was a reason you upgraded then you could have been miss-sold.
A typical claim results in a settlement of just over £760, is completed in 4-8 weeks and will be paid directly to you. Our simple process is described below.
We will discuss your circumstances and establish if you have a valid claim. According to the regulators, around 1 in 5 people have a valid claim for their miss-sold account.
If we believe you have a valid claim we will start the process of contacting your bank. Our claims team will detail the specific regulations that the bank has breached.
Once we have managed to secure a settlement for you we will arrange for the bank to make payment to you. We will then invoice you our fee.