An issue that has been all over the media and advertising world in the UK is that of how to reclaim PPI. Payment protection insurance is an insurance that was, and still is, taken out to cover certain borrowings like a loan or mortgage, or an overdraft for example. The controversy surrounding this type of insurance is the fact that it was miss-sold to many customers in an unwitting way, often to many who did not need it or even know about it in the first place.
There are a huge number of companies on the market at the moment who can offer their services of being able to reclaim PPI on your behalf. The vast majority of people are actually totally unaware that they are eligible to claim this money back from the providers, money that in some cases has resulted in thousands of pounds being repaid back to customers.
If a customer had not been given all of the appropriate details of the PPI insurance at the time of taking out their loan, then they could be eligible for a reclaim of the premiums paid over the life of the borrowings. Many were told that it was an essential part of the loan or mortgage, or whatever financial product they were taking out at the time, when in fact it should have actually been an informed choice.
If you think that this may have happened to you in the past then the first thing to establish is the fact that you were actually miss-sold the PPI insurance. Were you aware at the time that the product was actually optional or were you told it was compulsory? Once you have established the fact that you were miss-sold this insurance in the first place this is when you can take to try to reclaim PPI.
You could actually deal with a claim all by yourself by writing a letter to the relevant lenders or bank with an outline of your claim, but in the U.K at the moment there are lots of companies who will deal with a claim on your behalf taking a lot of the stress away from dealing with a number of different companies. The companies who deal in cases of PPI pay backs have the knowledge and expertise to deal with a claim efficiently and quickly.
Contact Easy PPI Reclaims if you are interested in how to start the Reclaim PPI
Article By: Adam Nicolson