PPI – What can you claim Back at PPI calculator **
Payment Protection Insurance (PPI) was sold to many customers through the bank to ensure that if the borrower in the future became unable to pay for a loan, the PPI policy would make sure the loan would still get paid.
Unfortunately the banks didn’t check to see if people were actually able to use PPI to its full extent before selling it which is why you may now be able to make PPI claims if and only if it was mis sold to you to begin with !
If you have previously purchased PPI or don’t even know if you have purchased it you should contact a PPI management company to see if you can get a PPI refund for the premiums you paid via a PPI claims.
During the PPI claims process not only may you get the premiums you paid but also the interest that could have potentially be made during the period that you were paying for the PPI. This is why we recommend that you use a PPI claims calculator to find an approx. indication of how much money you may be able to claim back.
UK Banks may have been mis-selling PPI for over a decade now and it’s a lot more wide-spread than you could possibly imagine. The Financial Services Authority discovered that multiple errors had been made during the selling period including false and incorrect information being given to customers as well as back-ground checks on customers not being completed to make sure that the PPI insurance would be valid for them.
Since the investigation was completed the selling of PPI has been really tightened up to ensure that such problems don’t happen again.
Although there is no time limit as yet to put in a PPI claim, most companies advise doing it as soon as possible to make sure you can get a full pay out.
Many finance companies have already put aside millions of pounds already so you may use a PPI calculator straight away and see how much you may be able to claim back through a PPI claim today!
Try our PPI claim calculator here