If you have ever taken out a credit agreement such as a loan, mortgage, store card or credit card you will more than likely have something called payment protection insurance, otherwise known as PPI. This insurance would supposedly cover your repayments should you ever have difficulty paying through ill health or unemployment. Many people don’t even know that they have PPI or how much its cost so is shocking to know that you could have been paying up to 30% of your loan amount just in insurance and with this in mind amongst other matters the courts have won a case against banks and lenders enabling you to reclaim PPI back and in most cases interest too.
To reclaim PPI is rather simple but firstly you need to find out whether you actually have a case in the fist place or even have the protection policy on a credit agreement. The easiest way to find out is to look at your statement, where it should clearly state payment insurance/PPI/protection etc (something along these lines). You indeed have a case if you have this and didn’t even know about it. You may have known about the insurance when taking out your credit agreement and you may have agreed to it. But was PPI explained to you properly or did you feel pressured or made to think the protection insurance was compulsory? These also are other factors, where you have a strong case to reclaim PPI.
It is worth starting a claim to reclaim PPI that may be owed to you whether you have recently taken out a credit agreement or even paid one off in full, you may still have a case especially if taken in the last ten years. It’s very straightforward to do and you could receive thousands of pounds with a number of weeks. Many people in the UK have already made or started their claim and many have already received a PPI refund so don’t delay, get your owed money back by reclaiming PPI.