A London man is celebrating after our financial experts took Welcome Finance to task on his behalf over a mis-sold Payment Protection Insurance (PPI) policy on his personal loan, helping him win a refund of just under £7,000.

Simon was a security guard from north London, he first complained about his Payment Protection Insurance (PPI) policy from Welcome Finance back in January and now just a few weeks later, Simon is holding a cheque for £6,858.91, which will go a long way towards making up for a particularly stressful time in his life.

“After seeing many adverts about debt management through loan consolidation and how it can cut your costs, I decided to approach Welcome Finance for a consolidation loan," explained Simon. "It was all sorted out on the phone and reducing my monthly payments seemed a great idea. The PPI appeared to be automatically added on to my agreement, and having already spent some time on the phone sorting it out, I didn't think to question the Payment Protection Insurance (PPI) element.”

As a security guard, Simon works in a very stressful job and it was only when seeing other adverts for mis-sold Payment Protection Insurance (PPI) that he began to think about his own policy from Welcome Finance and made the decision to contact us to see if he had a claim.

“Given the stresses of my job, I could never have done all the chasing up on this myself, so it was important to have a company on hand who could do all that for me," continued Simon. "I am really pleased with the Payment Protection Insurance (PPI) compensation and I couldn't believe that Welcome Finance had done this to me.”

“Many clients have taken out consolidation loans to solve their financial problems and have unwittingly signed up for more debt in the shape of Payment Protection Insurance (PPI) premiums,”

“The amount of people who have currently lodged a claim for Payment Protection Insurance (PPI) compensation against Welcome Finance is just the tip of the iceberg. We are seeing steady growth in Payment Protection Insurance (PPI) compensation refunds and the trend is set to continue. What we know is that many millions of policies are in existence and it appears that a large proportion may have been mis-sold. Therefore it is imperative that people check the small print of their loan and other credit agreements, to see if they unknowingly have PPI.”

The average Payment Protection Insurance (PPI) compensation win handled across all types of Payment Protection Insurance (PPI) policies is in the region of £2,200. Our largest ever Payment Protection Insurance (PPI) refund of any kind was a staggering £27,000 payout against another Welcome Finance policy back in 2009.