Times can be hard in the financial climate we currently live in. It’s hard to juggle money around thinking when will be your next break. But you could be entitled to reclaim some money that your didn’t even realise about through a past or recent loan you may have taken out. You may have paid a loan off in full or be still making repayments but either way you will more than likely have PPI or in other words payment protection insurance on top of your loan agreement and this is what you can claim back giving you a possible refund of up to thousands of pounds. Sounds interesting hey! So what’s next? You need to know how to claim back PPI?
Claiming back PPI is simple to do with not a lot of input from yourself at all. Initially all you will need to do is find out whether you actually have payment protection or not. You can simply do this by looking at a previous statement you have where it will clearly say protection insurance or loan insurance. If you still not sure then give your particular lenders a call you will inform you whether you have payment protection or not. The next stage of how to claim back PPI is to think back when you took out the loan/credit agreement with your specific lender or bank. Do you remember agreeing to protection insurance and if not did you not even know you had it? If you didn’t know you had it you could have or have been paying a large percentage of your loan amount just in protection insurance when you are very unlikely to have not even needed it hence the reason the banks and lenders are now having to pay it all back plus interest. Imagine having this paid back? It would certainly help anyone’s pockets.
Maybe you knew you had PPI but you don’t remember being informed about it clearly and about how you can make a claim should you ever have needed to use it or you may have even thought it was compulsory. With these cases you can still make a claim to get all your PPI back. So now you know you have the payment protection policy and you can remember taking it out or you can’t remember taking it out and have found that it has just automatically been added to your loan, the next stage of how to claim back PPI is to confront the lenders or banks. Some people may choose to do this themselves which can be time consuming and a lengthy process, whereas you can claim through a reclaim PPI company who will take all the stress of doing it yourself away and in most cases have your refund within a number of weeks.