Ppi Refund

Did you know that thousands of people may be entitled to a PPI refund? There are many people that have taken out loans over recent years that dont even know they have been charged for something they didnt want and therefore are entitled to claim that money back.

Payment protection insurance (PPI) is a valid service if you can make use of it, however not many people can. It is a service that is set up to protect you against missed loan payments if you are too ill to work. However there are so many terms attached to this that not many people find themselves in a position to be able to make a claim, no matter how long they have been paying PPI for. In fact statistics show that out of everyone who signs up for PPI only around 18% of people actually ever make a claim and out of those people less than 10% of them ever get a payment. This just goes to show that it is rare for this service to be of any use to you.

However that didnt (and doesnt) stop companies from adding this service onto your loan without knowing about it. The trend was more popular years ago although it does still happen today. Finance companies simply add this service onto your loan and hope that you dont notice. It is often just a small amount onto your monthly repayment and so often does go unnoticed. However on loan that is 3, 5 or even 10 years long it is easy to see how it can quickly add up.

If you have had this added onto your loan without your consent that the likelihood is that you are entitled to a PPI refund. People have recognised that this charge was added on without being explained properly or people even being told it was being added which is clearly very unfair. If you feel that this has happened to you then you should certainly look at how to go about a PPI refund and get back the money you have paid out unnecessarily.