We get asked a whole range of questions related to PPI Claims every day, so to make it easier for you to find out a bit more, we have put together this list of PPI FAQs.

If your question is not answered below, please contact us and a member of our friendly team will get back to you with an answer. If we think your question might be useful to other people, you might even find we add it below!

Our guide to your most frequently asked PPI questions…

Payment Protection Insurance (PPI) was a product designed to cover your repayments on Loans, Credit Cards, Car Finances, Mortgages, Store Cards and Catalogues if you are unable to work due to an accident, illness or redundancy.

As many as 64 million PPI policies1 have been sold in the UK between 1990 and 2010, but it was often mis-sold.

More than £34bn2 has already been paid back to people who have complained about the sale of PPI.

Complaints about PPI have previously been made about the way the PPI was sold, but following a recent change in complaints handling guidance there is also reason to complain if the Bank or other provider earned a high level of commission from the sale of PPI, which customers were not told about at the time of sale.



  1. Financial Conduct Authority (FCA): Payment protection insurance explained – Last updated 24.04.2018
  2. Financial Conduct Authority (FCA): Monthly PPI refunds and compensation – last updated 18.03.2019

According to the Regulator, the following are just some ways PPI could have been mis-sold:

  • You were pressured into buying PPI or told you must have PPI
  • You were promised a cheaper rate if you bought PPI
  • You were told your Loan or Credit application was more likely to be accepted if you bought PPI
  • PPI was added without telling you
  • You were advised to buy PPI that did not suit your circumstances or needs
  • You were self-employed, unemployed or retired but advised to buy PPI
  • You had a pre-existing medical condition at the time of buying PPI, which may have affected your ability to make an insurance claim
  • You were advised that a pre-existing medical condition was included in your PPI policy (or advised that it was not included)
  • It was not made clear that you would pay interest on the PPI if it was added to your loan
  • It was not made clear that the PPI would end before the Loan or Credit was repaid

There may be other reasons you were mis-sold PPI.


  1. Financial Conduct Authority (FCA): Complain about mis-selling of PPI – Last Updated 7 November 2017

New reason to complain

The changes to the complaints handling guidance, were a result of a court case about commission earned by a provider (often called Plevin), which means you may now also:

  • Complain even if PPI was not mis-sold or you do not think it was mis-sold
  • Complain even if you had a previous Complaint about mis-selling of PPI rejected

We can check for PPI on Loans, Credits Cards, Store Cards, Catalogues and Mortgages.

Many people do not know they had PPI – we are able to provide a PPI Check to find out if you have/had PPI on any of your products. Give our team a call on # and we will be happy to help you look into it.

Yes, we just need as much personal information as you can provide, this will help us to locate you and any PPI policies you may have had with your Lender(s). For example, we would need the name of your Lender(s), your full name, address, date of birth and any previous names and/or addresses.

  • Yes! Typically Claimants have a number of PPI Claims across different Loans, Credit Cards, Mortgages, Store Cards and Catalogues. There is no limit to the number of Claims you can make.


In the first instance we will liaise with your Lender to find out if you have PPI

Yes, you can make a Claim whether your Loan has been paid off or if it is still open. Fill in our PPI Check Form now 

Compensation awarded to customers following a successful Claim for PPI may be taxable. Please read on to find out more:

If my PPI Claim is successful and I receive compensation, will it be taxable?

– You are required to pay income tax on the statutory compensation payment from the Lender
– Any refund of policy premiums or interest you paid is not taxable

How much income tax will I have to pay?

– In line with UK Legislation, income tax will be deducted from any statutory compensation payment at the basic rate of 20%

What if I am entitled to claim back income tax?

– If you are a non-taxpayer it may be possible to reclaim this from HMRC (R85 forms – the HMRC form which shows you are a non-taxpayer – cannot be accepted with this type of interest)
– You will need to contact HM Revenue & Customs (HMRC) directly in order to complete a R40 claim form

Is there anything else I should know?

– If you do not complete a tax return or you need to pay income tax at a higher or additional rate, you will need to contact HMRC directly as well

Tax liability, as a result of compensation awarded for mis-sold PPI is the responsibility of the customer.

Please refer to the PPI Advice section on the HMRC website which offers more information.

You can also call the HMRC Tax Helpline on 0300 200 3300.

No. If you have been mis-sold a policy, then you are entitled to make a Complaint and claim your money back. Lenders have set aside billions of pounds as they know they are responsible for the mis-selling of millions of policies and, therefore, completing your PPI Complaint will not have an impact on your relationship with your Lender.

No, your credit rating will not be affected by making a Claim.

  • You do not need to use a claims management company to make your Complaint to your Lender or other Compensation Scheme, such as the Financial Services Compensation Scheme (FSCS), and if your Complaint is not successful you can refer it to the FOS yourself for free.


You have the right to cancel any Agreement(s) free of charge within 14 days of The Claims Guys (TCG) receiving your initial signed Letter of Authority.

After 14 days, you have the right to terminate your Agreement(s). However, TCG may issue a Termination Charge(s) which will be reasonable and proportionate to the work done and the costs incurred by TCG up to the point of termination. Please refer to the Terms of Engagement.

The PPI Check Claims  Limited are authorised and regulated by the Financial Conduct Authority, Interim Permission Number #

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