On a broad level mis sold PPI can be broken down into 3 categories. The easiest to understand is if you were sold PPI without even knowing. As PPI has always been sold with a mortgage, loan etc it can be difficult to understand fully what you are paying for as there are a lot of figures floating around during this sort of agreement. An example is where you have gone for a “fully protected loan”, which included a PPI cost that recurs monthly, but the words “PPI” were not mentioned. If it is not identified by the company as a payment on top of the policy price, then this counts as “mis sold”.

There are some instances where PPI is made out to be compulsory, that it is just a mandatory extra charge on the credit you were taking out. It is also mis-sold if you are led to believe that you are more likely to have your application accepted if you take out PPI.

There are times when somebody is not eligible to claim on a PPI policy that has been sold, however have been sold it anyway. If you are self employed, do not have a job or have any medical issues when you apply for the policy, you are not eligible to claim. There have been many PPI claims due to this as people are sold a PPI policy without ever being able to claim on it.

This is by no means the only list of ways you could have been mis sold payment protection insurance, there are plenty of others so if you have any doubts about your PPI policy, you should talk to a professional and see if it was mis sold.

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