There has been a lot of buzz around the words payment protection insurance in the U.K in recent times. 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 or loan. The payment protection insurance policy was 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 miss-sold the insurance.
The payment protection insurance was originally designed to take 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 know that it was part of the product they had purchased; therefore 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 then it is important that you check through a few things to see if you may be eligible for a repayment.
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 established that you were 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.
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.
If you are interested in reclaiming your payment protection insurance then get in touch with the Easy PPI Reclaim website today.
