It has been almost impossible not to read about PPI in recent days as it has been in the news every day. If you are one of the many people still asking the question am I owed money and is there a PPI calculator I can use, then rest assured, you are not alone! It may sound like a complex idea but in fact payment protection insurance (PPI) is a simple concept and you too can find out if you’re owed. Let’s have a closer look at what it is, and why you need to know about it.
So, What Is a PPI?
If you are asking what is PPI the chances are you have read about the many people claiming back charges for mis-sold policies. Before we take a look t that area of the subject, a brief explanation of PPI and what it is all about.
Payment protection insurance is a name given to a range of insurance policies that are intended to help you keep up the repayments on a mortgage, loan or credit agreement should you find you are no longer able to work. If you have entered into such a credit agreement in recent years you will undoubtedly have been sold a PPI policy and can use a PPI calculator to seek a refund.
Why Should I Use A PPI Calculator?
While the idea behind PPI is sound, there have been concerns about the way it has been sold to consumers for some time. Many people who are now thinking about claiming are using a PPI calculator to find out if how much they may have spent on useless cover. Put simply, there are certain rules regarding the selling of such products, and a PPI claim calculator can tell you what you’re owed if these rules have been broken by your lender.
The lender has always been obliged to give the borrower a chance to look around for his or her own PPI policy, but in many cases consumers were led to believe that they were obliged to take out a package deal with the lender in order to get the loan. This is the most blatant example of mis-selling.
How Do I Know If I Can Claim?
If you have entered into a credit agreement in recent years and have a PPI policy, you should gather all the paperwork together. The numbers of people using a PPI claim calculator asking are growing as a result of increased press coverage, and many find out they have a valid claim. If you have a mis sold PPI policy then fill out the form above and one of our human PPI claims calculator heros will call you back and work out how much you’re potentially owed.