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If you have taken out a Loan, Mortgage, Credit Card or Hire Purchase in the last 6 years you may
also have also taken out a standalone PPI (Payment Protection Insurance policy). The cost of
the PPI policy would have been added to your loan, increasing the amount of debt, and you will
have paid interest charges on top of this. You should have been given the opportunity to shop
around for insurance. In May 2009 the FSA (Financial Services Authority) outlawed these policies
as they were not fit for purpose.
The good news for you is that if you have taken out one of these policies you could be
entitled to £1000s in compensation.