PPI, what is it and have you been mis sold?

If you have ever taken out a loan, mortgage or any other credit agreement you could be one of the thousands of people who have been mis sold PPI (Payment Protection Insurance). PPI is an insurance that is sold with any sort of credit agreement to protect your payments in the slim chance you may have an accident, become sick or become unemployed causing difficulty paying off your credit agreement.

So have you been mis sold PPI? In most cases found of mis selling PPI, it has been with the organisation trying to sell the loan. Organisations can come across quite aggressive or insistent, not asking the right questions for your personal circumstances resulting in people purchasing insurance when they don’t actually need it. It is worth looking at any credit agreements you may have taken in the past such as credit cards, loans as you could have been mis sold PPI.

Here are some circumstances to determine whether you could/have been mis sold PPI:-

* Receiving pressure to purchase the PPI
* Out of work or self employed at the time the policy was taken out- you probably won’t be able to make a claim under this so is worthless to you.
* Increasing your credit agreement and automatically getting PPI increased
* No notification that you can actually purchase PPI from other sources should you require it.

To see if you have PPI on a credit agreement you have taken out. Have a careful look at statements or on the policy papers it should state Protection insurance, protection plan or similar. If you’re still not sure, contact your agreement provider who should let you know.

If you think you may have been mis sold PPI, you could claim it all back plus interest even if your loan/credit agreement has already been paid off usually in most claim cases within 6-10 years previous to making the claim. If you are still making payments towards your credit plan you can have the PPI payments written off.

You could have been one of thousands entitled to reclaim PPI due to being mis sold PPI on your credit card or loan, Canary Claims can help you get the money you are owed on a no win no fee basis.