The UK’s biggest scam against individuals has been committed by the least likely culprit, your own banks, which were scamming thousands of consumers, and selling them PPI insurance, whether or not consumers were aware of it.
Many banks had misled consumers and told them that they were required to purchase PPI insurance with the bank if they were obtaining a loan with that bank (a form of mis-selling). The second set of consumers are those who were not even aware that they were paying on PPI insurance, since the banks simply added it onto the consumers loan amount, and never bothered to tell them they had an option to cancel this coverage.
Either way, if you have a loan, check it to make sure whether it included PPI insurance; if it did, you could be expecting 1,000′s of pounds in return from these lenders in the near future. Millions of consumers have been mis-sold, and thousands have already filed their claims. So, if you are among those who have not yet filed, you need to get the claim process going. All you must do is contact your bank lender, request the claim forms, and fill them out to start the process of getting your PPI refund.