Frequently Asked Questions
Here are a selection of the most common questions that customers ask us at Key Financial Claims.
1. What if I’m not sure if I had PPI with my loan?
The majority of loans taken out in the last 6 years included some form of Payment Protection Insurance. Payment Protection Insurance is also known as Personal Loan Protection (P.L.P.), Mortgage Payment Protection Insurance (M.P.P.I.), Accident Sickness and Unemployment Cover (A.S.U.), Life and Accident, Sickness and Unemployment Cover (Life and A.S.U.), or Credit Card Repayment Protection (C.C.R.P.)
2. How do I know if I can make a claim?
If you can answer ‘yes’ to ANY TWO of these questions, then you should give us a call to discuss your potential PPI compensation claim:
a) Have you taken out insurance against a loan, mortgage or credit card in the last six years
b) When you took out that insurance, were you told that:
1. You had to take the insurance to get the loan? OR
2. It would improve your chances of getting the loan? OR
3. Did you not even know that you had the insurance?
c) When you took out the insurance were you:
1. Unemployed? OR
2. Self-employed? OR
3. Retired? OR
4. Working less than 16 hours per week? OR
5. In the Armed Forces? OR
6. Working in the Civil Service? OR
7. Working in the NHS? OR
8. Suffering from a pre-existing medical condition?
d) If you took out a further loan at a later date, were you then sold additional PPI and did the cost of your loan seem to increase more than you expected?
e) Have you paid off a loan and then found that you owed much more on it than you had expected?
3. Can I make more than one claim?
Yes....most people make several claims as they have had several Loans & Credit Cards in the last 10 years that included PPI cover
4. My loan has been paid off, can I still claim?
Yes!....even if your loan has been paid off you can still make a claim
5. How much can I claim?
The amount you can claim will vary depending on your Bank / Lender but on a loan of £10,000 you may be able to claim around £2,000
6. How does the process work?
We process your claim on your behalf, including contacting your bank until we receive an offer you are happy with.
7. How do I start a claim?
You can start your claim by completing the online form or calling 0800 0542 222.
8. How long will it take to complete a valid claim?
The entire process takes between 2 weeks to 4 months. Some claims can take longer but we will keep you informed of our progress throughout.
9. What do we charge?
Our service fee is 33.95% (fee inclusive of all taxes applicable from time to time, if any) of your total claim, this includes any interest we may be able to recover on your behalf.
10. Do you charge any upfront fees?
No we don’t, there is only one fee charged and that is on any monies reclaimed.
11. What if my claim is unsuccessful?
If Key Financial Claims is unsuccessful in winning redress for the client then no charge will be made.
