Payment Protection Insurance, also known as PPI, is a type of insurance which can be taken out in conjunction with a loan, mortgage or credit card.It is there to help you when your income is affected through no fault of your own, from events such as redundancy or illness, and assists you in servicing your monthly repayments while you have no fixed income.
The problem which has occurred in recent years however is that a number of UK vendors have mis-sold this policy to consumers, with some not even knowing they had purchased the policy at all.
Mis-selling can occur for a variety of reasons and some of these are less obvious than others. One common reason for a mis-sale surrounds the employment status of the individual purchasing a policy.
