As consumers we are becoming more aware of our rights and what we are entitled too
. Unfortunately this wasn't always the case which has resulted in many people paying too much for services when there was no need too.
Over the past few years the media has closely followed the influx of claims against banks and lenders, for unnecessary charges. The first one that came to light was over draft penalties but this is a case that is still be debated.
Now people are more concerned about payment protection insurance (PPI) charges that have been added onto loans without the customer's permission. PPI works so that if you are off sick at any time and unable to make payments towards your loan you are protected. Of course there is a lot of small print involved but that is the idea behind it. For some people that would be fine but for most it is a totally unnecessary service.
The main problem with this service is that banks and lenders have been adding on this PPI service to peoples repayment schemes without them asking for it or in fact even been aware that it is being added. This means that if you have taken out a loan in the past few years you have probably paid back much more than you needed too for the money you borrowed.
Thankfully we are now aware that this charge exists and can go through steps to reclaim the money they charged us without our knowing so. PPI reclaims have a massive success rate, because lenders know that they added this on without our permission. If you want to claim this back then you should contact an expert PPI reclaims company as they are in the best position to be able to help you. Once you have given them your details and have started your PPI reclaims process they can help you with paperwork and obtaining the documents that you need in order to progress with the claim, helping to make it as easy and simple as possible to get back the money that is rightfully yours.