http://businessandlegal.ie/ppi-claims-in-ireland-were-you-mis-sold-payment-protection-insurance Payment protection insurance (PPI) was mis-sold by many financial institutions in Ireland. Borrowers entering into mortgages, loans, hire purchase agreements, store card agreements, or credit card agreements were, in many thousands of cases, pressured into taking out PPI to cover payments in the event that the borrower ran into difficulty in making payments in various circumstances such as accident or illness periods, death, redundancy, periods of unemployment, etc. It is estimated that up to 350,000 people in Ireland purchased these products and banks and financial institutions have been reviewing their sales of these products between 2007 and 2010 because many were mis-sold to consumers.

1. PAYMENT PROTECTION
INSURANCE MIS-SELLING
IN IRELAND
Were you mis-sold payment protection
insurance?
http://BusinessAndLegal.ie

2. 3 Main Grounds for a PPI Claim
• The product wasn’t properly explained to the borrower
• The borrower didn’t realise they were taking out PPI cover
• The borrower could never claim on the product due to
exclusions in the policy
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3. 350,000 people in Ireland purchased PPI
• For mortgages
• Car loans
• Store cards
• Hire purchase agreements
• Credit card agreements
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4. PPI was intended to cover..
• Unenmployment
• Sickness
• Lay off
• Death
• redundancy
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5. PPI also known as..
• Credit card protection
• Sickness cover
• Loan protection cover
• Mortgage protection
• Accident cover
• Unemployment cover
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6. AIB mis-sold to 11,500 credit card
customers
• April, 2012-this is AIB’s own admission
• Bank had failed to check contradictory information
provided by borrowers
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7. PPI Inappropriate for Many Borrowers
• Civil servants
• Self employed
• Workers of pensionable age
• Part time workers
• Workers with pre-existing medical conditions
• Workers in receipt of full sick pay
• Contract workers
http://BusinessAndLegal.ie

8. Circumstances of PPI Mis-Selling
• The borrower being advised that it was compulsory
• The borrower being told that it was a condition of
obtaining finance
• The PPI being added to a credit agreement without the
knowledge of the borrower
• The PPI not covering the full term of the credit agreement
• PPIs being sold to self-employed people despite the
policy specifically excluding such people
• The PPI would not cover pre-existing medical conditions
• Borrowers not being given an explanation of the
conditions of the policy
• Borrowers being sold a PPI without their knowledge
http://BusinessAndLegal.ie

9. PPI Claims-Is It Worth It Claiming?
• Example: 5 year loan, capital sum €12,000
• PPI payments could amount to €4,000
http://BusinessAndLegal.ie

10. 6 Year Time Limit
• If you were mis-sold over 6 years ago, the FSO (Financial
Services Ombudsman) cannot adjudicate
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11. No Win, No Fee Claims Service
• Terry Gorry & Co. Solicitors offers a ‘no win, no fee’ claims
service
• Takes the hassle out of it
• Saves your time
• Doesn’t cost you a cent if you are not refunded
• We only get paid if we get you a refund
http://BusinessAndLegal.ie

12. Terry Gorry & Co. Solicitors
• Innfield House
• Enfield
• Co. Meath
• Email: terry@businessandlegal.ie
• Call: 046/95 49 614 or 086/81 21 797
• Remember: you have nothing to lose if we take on your
claim for you-you only pay if you are refunded
http://BusinessAndLegal.ie