How to check if you Already have a PPI and Claim your Money?

There are many companies out there selling payment protection insurance and if you are looking forward to get this cover, search extensively for the right product with the right price over the internet and buy the one which meets your requirements completely. There are chances that you already might be having a PPI policy because many banks as well as financial institutions have been selling PPI without the confirmed knowledge of the buyers. If you have bought a credit card, mortgage loan, home loan, car loan or any other similar product, chances are that the loan issuing company has included PPI in your premium and policy as well, with or without your knowledge.

Here is how you can know if you have a PPI against your loan or credit card –

  • If you have bought PPI willingly, you need to check if you were eligible to receive claim when the PPI was sold to you. If the various clauses of the PPI were not revealed to you, you do have a PPI claim.
  • If you have not agreed to purchase a PPI policy, you need to check your documents to know if you have a PPI or not. By going through all the documents of your loan or credit card, you can find out if there is a PPI attached to it.
  • If you are unable to find any document stating that you have a PPI, you can ask your lender if you have a PPI. They are obligated to answer any queries about PPI to their customers.

Many people are claiming back their payment protection insurance money because many people never needed this insurance and while many others who needed it, could have taken the policy from a standalone company where the same policy is available at a discount of 40%-80%. In any case, mis-selling the PPI is the main reason why many people are claiming back their dues from the company and billions have been refunded already to the consumers and many more claims are being made every day. There are companies out there who are helping the consumers fight back professionally and get their PPI claims without any hassles.