Payment Protection Insurance Policies A Free Guide

In the UK the issue of recovery of the PPI came to the forefront of people's concerns

. Payment Protection Insurance is a form of insurance, which is used to cover the outstanding balance of a loan or overdraft. There are a number of cases in which a person may be able to reclaim PPI. If the person was unemployed, retired or self-employed for example, they would have no use for PPI and could therefore legitimately reclaim the money taken from them. You may also be entitled to reclaim PPI if you were misled during the sale of PPI.

It is estimated that 70% of the UK may have been mis sold PPI and therefore entitled to recover, although it may not be aware. However, many people may feel reluctant to do so due to perceived time and effort it would take. Many people also feel that they will be charged should their claim be unsuccessful, that they would only get a partial refund, that they would not be eligible to reclaim if their account has been closed for a substantial amount of time or that they would be entitled to nothing if the insurance policy itself was not defective. All these concerns are largely unfounded. Many companies operate in the UK who specializes in PPI claims, as well as a huge number of sites that can help you through the process.

Many people around the country have managed to successfully recover your money, in fact, there is a high demand rate of success, and you should not feel discouraged if you believe you are entitled to a refund. Many people are also granted a refund simply by writing to the company who mis-sold the policy to them, stating their grievances and demanding that their claim is dealt with straight away. However, if you are not offered a fair refund from the company, and still feel that your claim matches the criteria above you should continue with your appeal. Many companies will be able to process your claim and get you a good refund within six weeks, with very little hassle or effort needed from you.

by: James Noor

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