If you care considering a PPI Reclaim then you need to learn more about mis sold ppi policies to see if you are entitled to a ppi reclaim of payments you have made in the past. Payment Protection Insurance Claims are possible on loans, mortgages & credit cards.
Are You Entitled To A PPI Reclaim
It is possible you have been mis-sold PPI and are able to make a PPI Reclaim if any of the following apply to you.
You did not ask for PPI cover, but it was added to your policy anyway
You were told the insurance was compulsory, or you would have a more favourable chance of getting your loan application approved if you decided to take it
You were unaware that including PPI was optional to your loan , or that you could purchase cheaper PPI cover elsewhere
You were unemployed, retired or self-employed when you took out the cover
If you bought your loan or credit card online reclaiming your PPI is more difficult as the full terms and conditions of the loan or credit card are usually available on the website.
But if you signed up with a loan or credit card provider that was using pre-ticked boxes, you may have had to opt out of the insurance rather than opt in. This was stopped in July 2007 however if your loan or credit card was taken out before this date you need to check to see if you have bought PPI insurance without knowing it.
If you bought ppi cover face-to-face or over the phone it is up to the salesperson to ensure that you understand the terms of the PPI policy and that the policy provided to you was appropriate. If you feel you did not understand the process, then you could be entitled to claim back PPI. policy payments.