Mis Sold PPI - Claim your Money

For those of you who have taken out a major loan in the past six years, there is a good chance that you have payment protection insurance (PPI) attached to your loan. While payment protection can be important and is in fact required for certain types of loans, a recent scandal has rocked the financial world when it was discovered that many lending institutions had either mis sold PPI or charged more for payment protection than was required.Today, there are still thousands of loans out there that either does not require PPI or the borrowers are being overcharged. You may be one of the many who can reclaim PPI payments that were mis sold to you. Of course, just having PPI on your loan is not by itself a reason to reclaim PPI payments, but if you were mis sold PPI, then you may be able to take back a large portion of the money you have paid in for protection that you did not need. There are some recognizable signs of mis sold PPI to look for when you are reviewing your loan, here are just a few of the signs to look for when you are reviewing your loan.- PPI added without your knowledge: Did you turn down PPI? If so, you’ll want to double check your records to see if PPI was added without your permission.- You were told PPI was required: One of the most common means of selling PPI under false pretenses. In fact, PPI is not required for many types of loans. - Mis-led about how PPI would affect credit: Having PPI added to your loan does not affect your credit rating, only the manner in which you pay back the loan. - The PPI does not match the length or value of the loan: This is a sign that you either might be overcharged for the PPI or it was added on without your knowledge. - You paid back your loan early, but received no PPI refunds: If you did not use your PPI to cover some of your payments, you may be entitled to PPI refunds that you did not receive. - Mis-Informed about PPI in General: You may have been told that you couldn’t get PPI elsewhere, were not asked if other insurance covered your loan, or had the loan increased and PPI was increased along with it. You may also have a legitimate right to reclaim PPI if the terms and conditions of the policy was not properly explained to you or if you were unemployed or self-employed when the PPI was added to your loan or if you were outside the age restriction at the time the loan was made, for example if you were over the age of 65. If you experienced any one or more of these situations, you may be entitled to reclaim PPI was the sold to you under false pretenses. You need to go to the experts to see what you can reclaim and get back the money that is owed to you.