Martin Lewis' MoneySavingExpert site has warned the public that Payment Protection Insurance claims may be about to return, with many able to claim £1,000s back if a new case goes through. Writing in his newsletter, Lewis said if you had a loan, credit card, or car finance , new legal action is pushing for further PPI payouts.
However, MSE was keen to stress that compensation in not guaranteed and joining the 330,000+ people who've signed up isn't 100% risk-free. PPI was wrongly sold to many people who were applying loans, credit cards, store cards, catalogue accounts, overdrafts, and car finance over several decades. Since 2019, the door to complain about PPI and get compensation has effectively been "slammed shut", as launching a formal legal claim is now the only way to get money back. This new group claim is focusing in on "high levels of secret PPI commission" known as 'Plevin'.