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Why you should make a PPI reclaim
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| Payment Protection Insurance (PPI) was invented so that people could receive help with the likes of credit cards, loans, financial agreements and mortgages if they ever ended up in a position where they wouldn’t be able to keep up with their payments.
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Payment Protection Insurance (PPI) was invented so that people could receive help with the likes of credit cards, loans, financial agreements and mortgages if they ever ended up in a position where they wouldn’t be able to keep up with their payments. The idea, then, is that if you agree to pay a little extra each month, should the worst happen – such as you losing your job or falling ill – you won’t have to fret about paying back a loan, credit card or mortgage.
Sadly, this has not stopped PPI being mis sold to millions of UK citizens. PPI can be mis sold to you in a number of different ways, for example if you were pressured into taking it out despite its optional nature, perhaps by being told that your job or status made it essential. Alternatively, the lender may not have explained the costs of PPI fully to you, or your PPI policy may not cover the full amount of the loan or the full repayment period.
Whatever the exact way it happened, the bottom line is that if you have taken out a credit card, loan or any other type of finance with a company and Payment Protection Cover has been taken out that you didn’t want, need or even know about, you have been mis sold PPI.
How do I make a PPI reclaim?
If you have been mis sold PPI, you are entitled to a refund and any interest you have paid in addition to 8% per annum since you have purchased the policy. Thankfully, there is a range of firms out there that specialise in helping you with your PPI reclaim. Arguably the best way to find such a firm is to search online, as the Internet offers a great amount of choice of such companies so that you can find the most reputable one.
Keep in mind that banks are making £5 million a year mis selling PPI, and that’s a lot of money for a useless policy! In fact, it represents 10% of the £50 million bailout package that you, the taxpayer, gave to the banks. |
Author resource:
Wish to reclaim PPI ? Contact Gladstone Brookes and speak to them to reclaim PPI.
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