There are millions of people who have yet to receive compensation for Payment Protection Insurance. If you have taken out a mortgage, loan or credit/store card then you may be eligible to retrieve the fees that were taken from you.
You may apply for PPI compensation within six years of ending the policy, although you may still be able to claim for cover shortly after the policy has ended. The reason for this set amount of time is that the lenders must keep your paperwork stored for a minimum of six years.
Many individuals avoid getting in touch with PPI advisors to enquire about PPI which they may have been mis-sold to them, yet the majority of them aren’t aware of the sum which may be repaid. The value of the PPI claim varies depending on the personal circumstances but there is an average sum of £2000, excluding excess which is being repaid to people all over the country every day. When taking out a loan or credit you are placing your trust in a specific lender, mis-sold PPI is a breach of trust.
People are also worried about their financial background being affected by claiming any of this money back, although your credit rating and any other loans you have taken out will not be affected. Also the ability to apply for loans and credit in the future will not change at all, in fact the money you receive may help to pay off any outstanding loans and credit you may have outstanding.
Claiming back PPI has become very easy to do, as long as you are using a reliable firm. Claims National aims to give you the right advice and point you in the right direction, with out expert advisors on hand to answer any questions you may have. If you are feeling unsure on whether to proceed with a PPI claim then don’t hesitate to give us a call. We can give you the feedback you may need to hear, in order to receive the compensation which was rightfully yours.
If you can answer yes to any of these questions you may be entitled to claim back PPI:
- Were you self employed or not in full time employment when you had taken out a loan or credit.
- Did you feel it was compulsory for you to take out the PPI?
- Did you feel the lender did not fully explain the PPI policy?
- Did the lender assume you wanted to take out the PPI Policy?
- If you were employed, did your employer provide you with sick leave?