PPI is also known as payment protection insurance. This insurance is usually sold alongside a loan or credit agreement such as a mortgage or credit cards etc to protect you should you ever become unable to make repayments.
Claim back Mis-sold Payment Protection Insurance (PPI)
Taking payment protection sounds the sensible thing to do at the time of taking out a loan or credit agreement especially when the lenders and banks are possibly giving you no other option and not explaining the PPI properly. With this in mind, this is one of the reasons that these lenders have been claimed against for mis-sold PPI. Thousands of people have already Reclaim their PPI so if you know you have it and think you too may have been of mis-sold payment protection then you need to find out how you can reclaim your PPI.
To reclaim your PPI you first need to find out whether you are one of the thousands a victim of payment protection misselling. This is simple to do. You can either call up your particular lender to ask whether you have insurance on any of your loans or credit agreements. If the answer is yes, then you need to think back to when you took out your loan policy. Do you remember anything about payment protection being discussed with you? Was it made compulsory? Was the specific lender pushy? If these sound familiar then you have definitely a case to reclaim your PPI but even if they don’t and you have protection then you could have had it put onto your loan policy without you even knowing which is also a huge example of mis-sold protection insurance and if this is the case then you could be paying 30% of your original loan amount just in PPI and not even use it.
Now you have a case and proof that you can reclaim your PPI whether you are still paying installments or paid off your loan within ten years and you don’t have to just claim on one policy so dig out all the possible loans and credit agreements you may have. Once you have the initial loan details, then it’s quick and simple to start the ball rolling to reclaim your PPI. Do not hesitate if you think you may be a victim of mis-sold PPI as you could have thousands of pounds reclaim in a short space of time.