Many of you, who have been impacted by the Payment Protection Insurance (PPI) scam, may be asking yourself: How do you claim back PPI that was wrongly charged from you. Well, if you or someone you know took a mortgage or a loan over the last 10 years, then you may be owed PPI payments from the bank or financial institution that sold you those products. You need to file a formal claim in order to receive your refund.
If you or someone you know has taken a loan, mortgage or entered into any other form of Credit Agreement with a bank or financial institution over the past 10 years or so, then you need to learn how to reclaim PPI payments made by you. That’s because you may have been charged such payments illegally or by deceit.
Many consumers of loan, mortgage and insurance products feel they have been unfairly burdened by Payment Protection Insurance (PPI), when they were initially sold the original debt (the loan, mortgage or insurance policy). Lawmakers, including the Financial Services Authority (FSA) and the Office of Fair Trading (OFT) have been investigating complaints from consumers wondering how to claim PPI payments. Even the Financial Continue reading
You may have heard friends or colleagues talking about their PPI refunds, and you may be wondering: How do I claim a PPI refund? For those of you who may have entered into a mortgage contract, received a Credit Card, or signed other types of eligible credit agreements within the last 10 years, there may be a great opportunity to reclaim as much as £5,000 from lenders and other financial institutions.
It is not surprising that the mis-sold PPI scandal is being called the biggest consumer financial scandal in the history of the country. Till June 2012, banks and financial institutions have paid compensation in excess of £5 billion to victims. Around £614.8 million was paid in the month of June alone. According to data computed by the FSA, close to £5.5 billion have been paid towards PPI compensation from January 2011 to Continue reading