Are you eligible for PPI reclaiming?
Many affected consumers are interested to know whether they are eligible to make a refund from their Payment Protection Insurance or PPI. It is a type of insurance coverage sold to people taking out loans and other finance products. Because many of these policies were mis sold, it may be possible to claim compensation. To find out whether you qualify to make a claim, you should consider these questions first.
Did the seller tell you that PPI is compulsory?
One way for the banks and lending companies to easily sell the PPI is by giving the consumers a false belief that it is mandatory. They often tell the clients that it is a requirement for their loans to be processed and approved. If your agent or the representative from the company told you that this is essential, you can make a claim and file your case to get a refund.
Were you unemployed during the purchase?
The main goal of the PPI is to secure your loan in case of sickness, disability or loss of employment. It is the responsibility of the company to ensure that you are in full employment during the purchase of the insurance. Otherwise, you can be entitled to make a refund from the premiums you paid.
Did the agent explain all the details with you?
If you bought the insurance policy without fully understanding it, then you have a case against the bank or the lending company who sold it to you. Most of the unscrupulous companies purposely hide some facts to the clients to avoid discouragement. They did not reveal the actual cost of the premium and actual coverage.
If your answer to these questions is yes, you can start the process for your PPI claims. Simply complete our online claim form or give us a call on 0845 475 0505 and we’ll let you know whether you have a valid claim worth pursuing.
