In the United Kingdom, a PPI is an insurance policy that is placed on credit cards, loans and mortgages. If you were mis-sold a PPI premium, you may be entitled to a reclaim. Before applying for a PPI reclaim, make sure you qualify.
There are several factors that can help you qualify for a PPI reclaim. If a medical condition could keep you from working, you may be entitled to a reclaim. At the time of purchase, the loan agent should have explained the PPI insurance policy. If they failed to do so, you are able to file for a reclaim. Anytime a loan is repaid early, the customer is entitled to a PPI reclaim.
To reclaim PPI premiums yourself, start by collecting your payment records. Make sure to asses all your loses. After you have assessed all of your loses, send a formal letter of complaint to the lending bank. If the bank does not handle your complaint, you can go to the Financial Ombudsman Service (FOS).
For More Information On PPI Go to PPI Freedom