Reclaiming PPI charges is becoming more straight forward now that there are clear outlines on what mis-sold PPI actually is. Payment Protection Insurance is the insurance policy that covers a financial customer from any event that may hinder them from repaying a loan. This could be due to ill health, redundancy, accident or even death. There are circumstances that can prevent someone from earning a salary and this can quickly find them in heavy debt. PPI is aimed at offering people a cushion in these times and is designed to pay off these debts when a person is unable to work for whatever reason. Usually this form of insurance will pay the creditor a low sum of money for the period of time the person is unable to meet payments but this is assuming the criteria laid out in the terms of the PPI policy are met. This period will continue usually for a maximum of 12 months after which the claimant must find another means of paying their debt. The most obvious reason to reclaim PPI is when you are completely unaware that PPI charges have been added to your loan. You also have a claim if the policy was not thoroughly explained or misleading information was given at the time of purchase. Once you are sure that you are paying PPI and you have reason to believe it was mis-sold, then the next step is to either pursue your claim yourself or enlist the professional help of a reclaim specialist. Although more people are pursuing these types of claims the process can still be complicated and it can give peace of mind to hand the process over to a company that can focus on getting your claim dealt with. At Empire Claims we offer professional advice on all types of bank charges and credit card charges.
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