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Easiest Way to Reclaim PPI Premiums. Can I Reclaim my PPI Premiums that were Mis-sold? PPI Reclaims Online

How to Reclaim PPI Premiums

PPI, or Payment Protection Insurance, is a form of cover designed to offset your loan or credit card repayments in the event of accident, sickness or (sometimes) unemployment.

Some years back it was commonplace for lenders to give the big sell to PPI whenever a customer was approved for a loan or a credit card. It was often misrepresented as though it were a panacea and many erroneous claims were made to the effect that it was compulsory. In addition, there were many drawbacks involved with PPI that were often never explained to borrowers. First of all the fact that it was time-restricted, and in addition that it was quite useless to certain types of client. It was often overpriced, and the amount of cover offered was sometimes inadequate.

Fairly recently PPI was challenged at the High Court on grounds that it was in many instances mis-sold, and that it has been offered under false pretences. This challenge was eventually upheld and lenders have since made provision to pay back any monies taken on the basis of incorrect or incomplete information having been provided. Borrowers are now able to reclaim money given reluctantly as Payment Protection Insurance.

Many victims however are still unaware as to how to reclaim PPI premiums. If it was not made clear at the time of purchase that the insurance was optional, if you were not notified of specific exclusions from the terms of the policy, if you were not advised that you would be paying interest on the insurance as well as on the substantive loan, if you not made aware that the policy would expire before the loan itself, or if there was an attempt to persuade you or to “strongly advise” you to take out insurance, you will probably have good cause to reclaim.

There are many third parties that will, for a fee, take on your case and help you to reclaim any monies that you have paid under false pretences or duress. It is also possible, with the correct advice and information, to do so without the use of an agent or third party. Consumer websites will usually contain details of how to reclaim PPI premiums – it is quick and easy, and does not require any form of payment.

Sometimes borrowers will have spent thousands of pounds on insurance cover that they did not need and probably did not want. It is worth acquiring the necessary information on how to reclaim PPI premiums and to make a simple claim for the return of this money in full. If you are currently looking into reclaiming PPI, try visiting websites like those above who specialise in help you reclaim you PPI missold under false pretences.

 
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