The PPI or payment protection insurance is a unique plan that has good intentions. You have mortgage that you are paying and you wish to protect yourself from the risks brought about by redundancy or even injuries. In theory, the policy will pay a percentage of your current balance. However, the real controversial thing about PPI is how it is applied to the person. Most people do not even know that they are paying PPI. Legally speaking, PPI is not or should not be a requirement by any financial company. Also, since PPI only applies to employees only, the idea that students, unemployed, and retired people get the policy is questionable. For that reason, you need to get a PPI reclaim.
Check first if you already have a PPI policy
Your statements should tell you all the details on what you are paying. The PPI can be termed numerous ways such as Loan Care or even ASU. If you are not sure about the PPI on the loan or mortgage, talk to the bank or firm and verify if you indeed have PPI that you are currently paying.
- Was the PPI actually mis-sold?
- Were you forced to get PPI?
- Did they require you to buy PPI?
- Was it unclear what the PPI meant for your transaction?
- Did they ask you whether you have any form of insurance?
- Were you advised to get PPI anyway even if it is not fit for you?
- Did you just find out about the PPI on your statement?
There are so many ways and reasons in which people could have been tricked to getting PPI or be mysteriously required to pay for the said policy. If you are not so sure about your PPI, you might want to ask the FOS about your situation or get an expert to help you make a strong case to get PPI reclaim.
You can do the PPI reclaim yourself
Doing it yourself is a free-of-charge service. If you feel that you cannot do it on your own or you are not patient about the process, then you might want to get an expert to handle your PPI reclaim. If you want to choose a company, check first about the costs you have to incur and how the payment process will be handled. Also, check the track record of the company and see to it that they have good consumer response. The last thing you want is to pay more than you will get from the PPI reclaim.
To start your PPI claim today simply fill out the short form above or call us for free on 0800 840 7292 and speak to one of our expert advisers.