Frequently asked questions

These FAQs are related to the appointed professional organisation who handle all claims submitted to this site - Premier Financial Recoveries LLP. Premier Financial Recoveries LLP is regulated by the Ministry of Justice in respect of claims management activities (CRM 18601). For further information please visit the Ministry of Justice at www.claimsregulation.gov.uk.

What is Payment Protection Insurance?
Payment Protection Insurance (PPI) is a form of insurance taken out to cover the payment of a specific debt. Usually a PPI policy covers the repayments of the attached debt if the borrower is unable to meet the payments due to loss of income through redundancy, unemployment, illness or disability. A policy will usually pay out after a deferred period of between 1 and 6 months, and continue to pay for up to a year should the loss of income remain. The most typical forms of PPI are Loan Payment Protection (where your loan payments or more commonly the interest part of the loan payments are met by the policy), Mortgage Payment Protection (which covers your mortgage payments), and Store and Credit Card Payment Protection (where either your minimum payment or interest payments are covered).

Can I make more than one claim?
Yes – most people make several claims as they have had several Loans and Credit Cards in the last 6 years that included PPI cover.

How long will my claim take?
All claims are different but on average they take between 2 and 6 months.

My loan as been paid off – can I still claim?
Yes – even if your loan as been paid off you can still make a claim.

Why can't I make a claim myself?
The process of making a claim can be very time consuming and feel intimidating to those who are not comfortable dealing with financial institutions and formal organisations such as the Financial Ombudsman. Our professionals will endeavour to make sure that the company you are claiming against follows the FSA guidelines and time limits within the industry. They will also be familiar with the terminology that vendors use to complicate the claiming process which tends to discourage consumers pursuing their cases further.

Will I need to pay anything upfront and how much is the service?
Our appointed professionals are Premier Financial Recoveries. Premier Financial Recoveries take NO upfront payments.

An industry standard amount of 27.5% (plus VAT with a minimum charge of £50) is charged by Premier Financial Recoveries to cover the costs involved in the reclaim process only if a successful reclaim is made.

In some cases Premier Financial Recoveries may pass your claim to a firm of solicitors to deal with and will advise you separately of their fees and financial relationship with them, if your case is forwarded to them.

What else do I need to know?
The credit agreement you signed at the time of purchasing the Payment Protection Insurance is regulated by the Consumer Credit Act 1974 as amended. In processing your claim for mis-sold PPI Premier Financial Recoveries will not advise you on your financial matters.