Anyone who has taken out a loan, credit card, mortgage or entered into any other credit agreement in the last few years will very likely have had PPI (Payment Protection Insurance) added to their agreement, often without their knowledge. In other cases, borrowers have been told that they couldn’t have the funds they needed without also taking the additional, costly PPI policy, which they were told was designed to cover the monthly payments in the event of illness or redundancy.
They reality of PPI is altogether different, the cover has been proved to be worthless in many cases and the Financial Ombudsman Service has described many PPI policies as disproportionate to the amount being borrowed and representing poor value for consumers.
In recent years, banks, lenders and mortgage companies have been made to pay back millions of pounds in PPI claims as consumers have complained about their policies, however, many people still haven’t checked their loan documents to see if they have PPI, and millions of pounds remains unclaimed.
Money Claims Ltd run a specialist PPI claims website to help consumers claim back what is rightfully theirs, with their expert team of Payment Protection Insurance claims specialists Money Claims are able to take care of every aspect of the PPI claims process and will deal with everything from the initial letter of complaint to checking the final compensation offer is correct and in line with the guidance set out by the Financial Ombudsman Service.
If you have a loan, credit card or mortgage it is worth taking the time to check your documentation to see if you have PPI attached to your agreement, for more information and advice about claiming back PPI call the team at Money Claims Ltd on 0800 165 1111.