There has been plenty of interest around the words payment protection insurance in the UK in recent months. Payment protection insurance is a type of insurance that is taken out when lending money in some form or other like a mortgage or credit card, even a loan. The payment protection insurance policy was, and is, an optional choice when taking out these types of financial products, but they were not sold as optional at the time and many people were actually sold the insurance when they didn't need it.
The payment protection insurance was originally designed to taken out in the eventuality of an accident or redundancy preventing you from paying the monthly costs of the loan or mortgage or other type of financial product. Many people were sold this insurance without being told all the facts about it, and some did not even know that it was part of the product they had purchased. As a result of this they were paying unnecessary payments that they were unaware of.
In recent times there have been many cases where the consumers have had loans written off or at the very least payment protection insurance premiums were repaid back to the consumer from the lender. If you think that you may have been miss-sold payment protection insurance in the past then it is important that you check through a few things to see if you may be eligible for a repayment of the monies you have already paid.
At the time of taking out the financial product was it made clear to you that payment protection insurance was optional? Were you aware that you would have to pay interest on payment protection insurance premiums even after the insurance had run out? Once that you have actually established these facts and realised that you were actually in fact miss-sold payment protection insurance then you may be eligible for a refund from the lenders of all the premiums that you have paid over the life of the financial product. Many people have already benefited and received substantial sums of money back from their payment protection.
There are many good companies operating in this field today who specialise in getting clients payment protection insurance premiums refunded on a no win no fee basis. If you think you may be eligible then get in touch with one of these companies today and you could also benefit and receive your money back.
If you need more information on payment protection insurance
contact Easy PPI Reclaims today!
Article By: Adam Nicolson