Mis-sold payment protection has been one of the most controversial financial situations to occur over the past five years, with compensation totals expected to reach billions before the conclusion. However, if you’re unsure as to whether you’re eligible to obtain compensation, then continue reading, because our guide should be able to help you decide whether to put a claim in or not. Oh, and find a PPI refund calculator if you do – it might help you decide whether it’s worth the hassle or not!
Firstly, the most telling way is also the most simple: you’ll have been told about it! If you dredge your memory back to any credit cards or loans you applied for over the period PPI mis-selling was in operation, then the chances are that you would have been told that PPI was a compulsory part of obtaining your card or loan. Needless to say, this rather devious method of selling has proven to be complete and utter twaddle, and anyone who was victim of it is very eligible to make a claim.
Secondly, you should definitely further investigate your eligibility for a claim if you applied for a mortgage in the time that PPI was in operation. Another rather evil method that salesmen used at the time was to attach PPI to any mortgage, even if the person applying was self-employed and wouldn’t be able to claim on the insurance anyway. That’s why if you have a mortgage that was purchased within this time frame, you should break out the PPI calculator! (more...)