PPI has been in the news recently with the banks having to repay PPI which was mis sold. You might think as this has been in the news for some time that you may have missed your chance to reclaim any PPI you were mis sold. In actual fact, nothing could be further from the truth. Now is the time to reclaim your mis sold PPI as the banks are currently dealing with the back log of claims and have taken on extra staff to catch up. Extra money has also been laid aside to repay claims of mis sold PPI.
PPI, or Payment Protection Insurance, can be a useful product. Many people have it in case they are made redundant or for any reason cannot repay a loan or credit agreement. However some people found that they needed to claim and could not, because they had been mis sold the product. Many people took out PPI and then found it was of no use to them whatsoever. If you are unemployed, self employed, or retired, then any PPI you took out is invalid. The financial company who sold you PPI would not pay out on a claim. This scandal has been going on for many years and finally the banks have been told that they must pay back any PPI which was mis sold. If you come into any of these categories, you have a claim.
It is worthwhile checking carefully to see if you have any PPI you were unaware of. Some financial institutions sold PPI as part of a credit agreement without even telling the purchaser. If you have taken out any loan or credit card of any type in the past few years you should check if you have PPI. The company which gave you your loan will provide you with a copy if you do not have your original agreement and you can check it carefully to see if there is PPI on your statement. If you were not told that you were taking out PPI then you were mis sold and have a claim.
If you were told that you must take out PPI before you could have a loan, then this is also blatant mis selling. You should also have been told that you could shop around for PPI and look for a better deal than the one offered by the company who gave you your loan. If you were sold PPI under any of these circumstances, then you have a claim.
It is not always easy to see if you have a claim as PPI has been mis sold in so many different ways. If you have PPI you should have it checked carefully to see if you were mis sold. Now is the time to claim, while the banks are currently dealing with this. They have the extra staff and the money, and are paying out claims as quickly as possible, so you should take advantage of this now.