Payment Protection Insurance, or PPI, is a kind of insurance that offers protection for when you are unable to keep up with your monthly payments for loans or credit cards. PPI claims come into the picture when you are mis sold a PPI policy. Mis-selling happens when you are provided PPI coverage that you don’t need, want, or even know about. PPI claims uphold that PPI as it is offers practical protection but only if you opted to have it. You can lodge a complaint if there’s anything in your monthly payments that you can’t explain. PPI may have all the good intentions but it does not come cheap so paying for PPI will considerably add a chunk to what you have to pay for every month. This is understandable if you chose to get a PPI policy. But if you didn’t, it’s just plain outrageous.
PPI Claims Advice
If you are in the least bit suspicious of anything about the terms of your loan, you can get in touch with a claims management company to determine if you have a case. After all, the all-important first step in lodging a complaint involves proving that you are eligible to claim compensation. The process generally starts here, with the claims company helping you go over your loan contract. This is because your lender may have mis sold you PPI by not telling you that you actually taking out an insurance policy and thus will be paying more, but most will detail the inclusion of PPI in the finer print of your loan contract. Aside from the actual term PPI stands for, it can also be worded as “loan care”, “loan protection”, and anything similar. If you spot any of those terms in your loan contract and you didn’t know you were getting protection in the first place, then you are eligible to file for PPI claims.
Since completely proving that you are being forced to get PPI or that you are not getting the protection you need is a big part of winning PPI claims, you have to make sure that you submit a case to the lender which fully explains why you feel you are entitled to claim compensation. If you do not want to go it alone, we are here to help.
If you feel that you have been mis-sold PPI, start the process of reclaiming this money today. Upon successful completion of your claim, you will be refunded any premiums you have paid for this insurance plus interest where appropriate.