News of Mis sold PPI is taking the country by storm by thousands of banks and lenders customers claiming all their PPI they have been mis-sold back plus interest receiving lovely sums of up to thousands of pounds and if you have ever taken out a loan agreement you to could be entitled to a sum of money back. As in loan agreement, this means anything from a mortgage, credit card, loan or even a store card. Pretty much anything that is given to you in credit and you have to pay it back in installments. PPI stands for payment protection insurance so if you ever struggled to make your specific installments then that’s where the protection would come in handy. In struggling, this would mean you were unfortunate to be involved in an accident causing you unable to work or become out of work altogether. Both examples are rather slim and in fact if you did occur these incidents then it is actually very hard to make a claim on your PPI to get help with the repayments so has been proved that this kind of protection insurance has been pointless to previous and current customers and with this in mind the banks and lenders have lost a battle against mis-sold PPI and this is the reason they now have to pay all their customers back and in most cases including interest.
Mis Sold PPI?
So if you do have a credit agreement whatever it may be then you need to check out whether you have been mis sold PPI or not. Some customers do not have payment protection but if you do, you will find out by looking on a statement and seeing if it states protection insurance or similar text. You don’t have to have never used the PPI to be able to claim your mis sold PPI back; there are many other factors which have come to light from victims of mis sold protection insurance. Such as people have felt they had no choice regarding payment protection or that it wasn’t explained to them properly, others felt they were pressurised into taking out the protection and others even haven’t known they agreed to accept PPI but have had it automatically added on to their loan agreement and have now been paying up to 30% just in protection which they will more than likely never use. Don’t delay, if these sound familiar and you know you have PPI, you have probably like thousands of others been a victim of mis sold PPI and now is the time to take action.