Covid 19 Status

In line with HM Government requirements to fight the spread of Covid-19 we have measures in place to ensure that we protect our staff, their families and the wider community, but also to ensure that there is minimal disruption to our customers.

Your access to online Multi Agency Credit Reports, Expert Help and Account Management remains unaffected. We take great pride in the support that we provide to our customers and throughout this period will do all we can to minimise the impact on our services. While the country remains in lockdown we will continue to support your queries via a dedicated and experienced team that will be securely working from home, and supported by a Management Team that will continue to be based at our head office and who will be able to provide customer support as required.

The security measures that we have in place to protect your Personal Data, in line with our Privacy Policy, will mean that some elements of our personalised support are affected during this period as our support team will be working with anonymised data when working remotely. Freephone access to our Credit Analysts has been removed during this period while we focus our efforts on continuing to reply to all of your emails and secure messages within one working day.

Thanks for your understanding, and we hope to have full customer support available as soon as possible and wish you well during these challenging times.

Payment Protection Insurance (PPI)

What is Payment Protection Insurance (PPI)?

Payment Protection Insurance (PPI) is an optional insurance policy made available on credit applications that will cover your repayments for a limited period if you have an accident, fall sick or become unemployed. More recently, it has become better known for the mis-selling scandal which resulted in years’ worth of cold-callers asking about any loan you’ve taken out in the last 20 years.

While the insurance itself can be helpful to some customers, in many cases there is a wait period before the payments come through on policies, meaning it can be as long as three months before they start to cover your finances in the event of you becoming unemployed or ill for an extended period, by which point many people no longer need the cover.

Opting to take this insurance will not affect your chances of getting credit (by law), and you should not feel pressured into taking it up at any point.

Q: Can you still get PPI on a loan?

A: Payment Protection Insurance is still available when you apply for a loan, but new regulations make it much clearer for you to see what you’re opting in to.

Q: How was PPI mis-sold?

A: There was no single way that PPI was mis-sold to customers. For some, customers weren’t fully informed what they were buying into or were sold it even though it wasn’t suitable for their circumstances. In the worst cases, customers were misled into thinking that they would not qualify for a loan without including PPI on the policy.

Q: How do I know if I have PPI?

A: If you still have the original copy of the loan agreement, it should include any details of PPI and additional costs associated with it. Sometimes it is referred to as “accident, sickness and unemployment insurance”, “loan insurance”, “protection plan” or ”loan care”. Information related to insurance taken out on loans will not appear on your Credit Report, but information about the loans themselves will provided that they have been active within the past six years.

Jargon Buster

Use the links below and the resulting list of terms on the right to locate the term you are looking for. If you can't locate it, please get in touch.