In the past, when you've gone for a loan or credit it was just assumed that you wanted Payment Protection Insurance (PPI) and was included. This has led to thousands of banking consumers complaining about the fact that that they were either not made aware of the additional cost or it wasn't explained to them fully. Thankfully, the government finally stepped in via the FSA and slapped the banks on the wrist before allowing people to claim back their money. Currently there have been thousands of customers who've submitted cppi claims and had their money refunded.
Reclaiming PPI is becoming more and more common as thousands of UK banking consumers realise their policies we mis sold. Payment Protection Insurance (PPI) is often added to a borrowing at the time of agreement but with either no mention or without information given regarding the many policy exclusions. If you have been mis-sold PPI, you could start reclaiming PPI payments and get your money back from the insurance premiums you were paying.
The whole customer revolution that has given rise to all the PPI claims is thanks to a fairly recent court decision that changed the way banks and financial institutions handle PPI and how they sell it to their customers. This court decision has outlawed the inclusion of PPI alongside loans without the consent and knowledge of the consumer. If you believe your bank has done this to you in the past or you are currently paying back a loan with PPI, you can now fight back to get your money back.
Whether you know you are a victim of mis-sold PPI or have been sold the insurance and would like to find out if you have a claim, you have a case that's worth investigating. The laws in place allow you to not only claim but also cancel a policy that you're paying for that was mis-sold to you. If you've already checked your loan, credit card, car finance or mortgage papers and found PPI payments popping up every month, you have every right to put in an appeal to get your money back. An important thing to remember is that when making
PPI claims is that you'll most like get back the payments you've made and not get the whole borrowing written off.
Before you start any claim process, be it with the help of a specialist or on your own, it is important to gather a much information and advice as possible. If you are uninformed on the whole process and requirements of a claim then you could spend much longer than you need to making it. The easiest option is to hand it over to a company that makes PPI claims for a living, they'll take of it from start to finish on a no win no fee basis. Plus, they'll deal with your lenders and banks so you don't have to.
