PPI is an insurance often sold with a bank loan or credit card. It is purchased to protect your repayments should you find yourself unable to work for any reason, the general assumption being that your PPI will cover the repayments of your loan if you ever find yourself in this position. So it must be a good thing, yes? Well, actually it’s been discovered that a high percentage of PPI policies were in fact worthless, and would have been of little benefit to a person making a claim. I...

The average mis-sold payment protection insurance (PPI) claim is in the thousands of pounds, and some receive as much as tens of thousands. If you took out a credit card, loan, overdraft, mortgage or other lending product before 20th April 2011, you are very likely to have been mis-sold payment protection insurance. The rules around PPI are complex, but generally you may have been mis-sold PPI if you were sold it without your knowledge, with the impression that it was not optional, wit...