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Reclaiming For A PPI

March 16th, 2012 Posted in Insurance

Over the past year or so there has been great controversy over PPI’s and the fact that many people have been mis-sold them. What this PPI is defined as is Payment Protection Insurance and works as an insurance guarantee on something that you have taken out as credit so a credit card or even a mortgage would fall into this category. It is there to help you make your repayments if you cannot do this because you have been made redundant or you have a medical problem that means you need to either leave your job or take time off etc… However, the problem arises when it transpires that many people did not even know that this PPI was in their contract and had been paying money towards it without their consent or if they have been mis-sold it.
This means that you either did not fully understand the details of the PPI or the company that was offering it did not even tell you in the first place or maybe you were told that this was compulsory when it is not. Either way, this amounts to being mis-sold your policy or you could be able to get a PPI reclaim that thousands are doing right now. Around 20 million people currently have a PPI agreement and many are in line for a claim because they fall into some of the categories that have been mentioned above indeed there will be many more who do not even realise that they have a PPI in their credit contract and will be unaware that they could be able to make a claim because of this. Talk to an expert about this issue and the chances are that you could be able to reclaim the money that you paid into this scheme if you were mis-sold it in the first place.

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