Many people have recently being given the opportunity to claim back on PPI’s. Essentially what this is, is an insurance policy that is taken out when you get something on credit – so this includes things such as loans and mortgages etc… that you pay back over time – however the fact is that many people may have been mis sold payment protection insurance and, as such, have a claim to the amount of money that they have been paying into this insurance over the years.
In fact, what has happened more often than not is that a great number of people did not even know that they had this PPI in the first place and had been paying money into it continuously for years sometimes without even knowing that they were or not even being eligible for it in the first place. How, then, could they receive this protection? Well many people were signed up to a PPI without even consenting to it and many policies – that were explained to the people taking out the credit – were mis sold it meaning that they weren’t even eligible; essentially you need to be working to get a PPI and many students and retired individuals and couples were given PPI’s when they were not strictly eligible to get one.
Also, many medical conditions also mean that you cannot get a PPI and there have been many people with heart problems and diabetes that have been wrongly paying into this insurance over the years. If you are not sure if you even have a PPI or if you are wanting to make a claim then contact a company that specialises in this as you could stand to be refunded a great deal of money that you have been paying out over the years that the insurance was active.