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How to claim loan insurance back

how to claim loan insurance back

Welcome to our FAQ (frequently asked questions) page. This is a compilation of our visitor's most frequent questions.

Do I have a Claim?

Please check the following statements, if any of them apply to you then you probably have a claim:

  • I have recently looked at the paperwork for my credit agreement I now realise that I have been paying for insurance I did not know I had so it could not have been explained to me.
  • I was led to believe that the loan insurance policy was compulsory when I took out my loan.
  • I was self employed or unemployed when I took out the loan insurance.
  • My age meant that the policy would never cover me in the event of a claim.
  • I was not informed of the policy exclusions that might affect me before I was sold the loan insurance.
  • I was not told I could buy loan insurance elsewhere.
  • I was not asked if I had other insurance that would cover my loan.
  • I was told that I had to take out loan insurance to get the loan.
  • I was not informed that as well as paying for the loan insurance up front I could also pay for cover on a monthly basis.
  • I paid back my loan early and the loan insurance which I paid for upfront was not refunded to me.
  • I increased my loan and the loan insurance premium was increased without my consent.
  • The terms & conditions of the loan insurance policy were not properly explained to me.
  • was put under pressure to take out the loan insurance.
  • I was told that my credit rating would be improved by taking out the loan insurance and so it would be more likely that the loan would be approved.

Why can I claim?

PPI insurance has been found to have been frequently mis-sold by the Financial Services Authority. If it was mis-sold to you then you can make a claim to get back the proportion of your monthly loan or credit-card payments that represented the PPI payments, plus interest. There are many reasons why PPI may have been mis-sold to you in the first place, most of these are included in the list above.

What will I have to do?

Just complete the form below and submit it to us. We'll send you some paperwork. Just sign the paperwork and return it to us in the freepost envelope provided and we'll do the rest!

Will I have to go to court?

No, you won't. We will deal with the entire claim on your behalf.

Do you need all my credit-card or loan statements?

No we don't, but it does help to speed things up. We can write to your lender and use the law provided by the Data Protection Act to force them to inform us of all the PPI charges they've made on your account. If you do have the statements it does speed up the process as companies are usually pretty slow in responding to our requests.

How much can I claim?

You can usually claim back the premiums plus interest for the last six years. Of course, we figure this all out for you.

Can I do this myself?

Yes you can. It will be time-consuming and some claimants find the process intimidating. You will need to calculate all the premiums and interest yourself. You also might need to go to the small-claims court. If you want to try it yourself, you should do so, we will be happy to take over from you at any stage provided you have not issued proceedings.

How long does it take?

This very much depends on how long the loan or credit-card companies take to respond to us. Eight to twelve weeks is typical but it can take longer.

How much does it cost?

We charge you 30% of the money reclaimed + VAT, which equates to 36%. We don't charge you a penny up-front and of course if we don't win your case, there is nothing to pay. Please see the typical example in our terms and conditions tab

What do you need to do?

To apply, you simply enter your details online We'll send to you some forms. Just sign and return these to us in the freepost envelope provided.

What do we do for you?

We examine your case to determine if your PPI has been mis-sold.

We write to your loan, mortgage or credit-card company and get a list of their PPI charges.

We calculate the amount they have charged you and add interest on top

We make a demand on your behalf.

We chase them if they don't respond

We may go the financial ombudsman on your behalf

We may raise a claim with the small claims court

We attend the small claims court on your behalf if necessary

How do I know that you are a legitimate company and the information I give you is secure?

We are regulated by the Ministry of Justice in respect of regulated claims management activities CRM4592. You can verify this by visiting the Ministry of Justice Website on

We are also authorized under the data protection act, our registration number is Z9955759. You can verify this by visiting the Data Protection Public Register on

My partner and I have a joint account, can we still claim?

Yes, you can you will both need to sign all relevant documents to make a claim.

Will the claim affect my credit rating?

No, This process is completely legal and there is no way it will have a negative affect on your credit rating.

Could the Bank close my account?

So far, no Credit Card Companies are, but you should be aware that it could happen. If the company were to close your account because of your complaint about their charges then we would raise an official complaint with the Financial Services Authority on your behalf citing retaliatory action against your claim. This could be much more damaging for the bank than you claim against them.

Are you obliged to accept my claim?

We are not obliged to accept your claim, if we don't we will explain our reasons to you. For instance, if you were rude or abusive to our staff we would not accept your claim. If we suspected fraudulent activity we would not accept your claim. If we suspected that we would not be paid on settlement of the claim we may not accept it. If we don't accept your claim there will be no fee payable by you.

Isn't the law frightening?

If you cancel your claim within the first two weeks there will be no charge to you. If you cancel your claim after the first two weeks have elapsed, we will charge an administration fee of £165.

What if I accept a settlement directly with the insurance provider.

Insurance providers often try to avoid settling an entire claim by making an offer direct to the customer. This offer is usually very much lower than the true value of the claim. If you accept such an offer then we will charge you our fee based on the assessment of the total claim which should have been paid subject to a minimum of £250+VAT. In addition to this fee you will be charged any costs we incur in trying to recover this money from you.

What if I have a complaint?

We take complaints very seriously, and we have a formal complaints procedure which is available on request.

Should I shop around or get further advice?

We wish to make it clear that you have the right to shop around and seek further advice before instructing us.

Category: Credit

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