Consumers have been systematically ripped off by banks, lenders, shops and other financial institutions selling Payment Protection Insurance. If you've taken out PPI and have experienced the bullying tactics employed by the financial services industry to get their hands on your well-earned cash, don't put up with it; strike back now by claiming compensation.

The problem is millions were either missold cover on their loans or credit cards or weren’t allowed to cancel it when they tried. And don’t just take my word for it. The regulator, the Financial Services Authority, has repeatedly warned of widespread problems with the way firms sell PPI and has slapped millions of pounds worth of fines on a number of high-profile companies.

We invited three volunteers into the studio who all think they have a PPI claim. Between them they could be entitled to almost £12,000; a huge sum.

How do you know if you have a claim?

If the answer to any of these questions is yes you may’ve been missold…

• Are you self-employed, unemployed, redundant or retired?
• Have you had medical problems in the past?
• Has your provider already been fined for mis-selling?
• Were you sold a ‘single premium’ loan policy?
• Were you given full details of the insurance?

For more details to work out if you’ve been missold this insurance and information on how to reclaim, including free template letters, read Martin’s detailed step-by-step PPI Reclaiming Guide.