The advantages of making a payment protection insurance claim

Up until 2011, many lenders, including high street banks and credit companies, mis-sold a staggering £5 billion a year worth of payment protection insurance. The insurance, intended to protect payments in the event of accident or unemployment, was mis-sold when borrowers didnt want or need it, or when they were given the impression that it was not compulsory. When the mis-selling of PPI was eventually ruled as illegal, lenders were told to repay those who had taken out the policies.

There are many advantages of making a payment protection claim, the main obviously being the financial reimbursement. Many people who make successful PPI claims are refunded thousands of pounds each, with some being given cheques for as much as £90,000. The amount which each person is refunded depends upon the size of the loan which the PPI protected, the time period which the loan was taken out for and a number of other factors. The best way to find out how much your claim is likely to be worth is through receiving an assessment from a PPI claims management company, with most people finding that they are entitled to an unexpectedly substantial figure.

With lenders unfairly misleading customers for decades this is your chance to take back what was taken from you. Banks have been ordered to repay millions of pounds to their customers, most of which remains as yet unpaid. You have the right to take back what you are entitled to and show your lender that you are not going to let them keep your money. Banks and other PPI sellers are not allowed to treat you any differently for making a payment protection claim, so nothing should hold you back from taking back the money you are entitled to.

Claims management companies understand that the majority of those entitled to make PPI claims are unsure of their knowledge or ability to contact their lenders directly. The PPI refund process is complicated and assessing whether or not you are entitled to make a claim is even more difficult.
By hiring a PPI claims management company you can simply sit back and wait for your cheque to arrive. They often offer a free assessment service which allows you to find out whether or not you have been mis-sold PPI from the comfort of your own home; choose a company which offers a simple postal or visiting service. If you are busy or do not have an in-depth knowledge of the rules around PPI it makes sense to speak to experts who will handle your claim quickly, efficiently and on a no-win, no-fee basis, for virtually no effort on your part.