If you took out a loan or credit agreement, had an overdraft, mortgage, store card, car loan or even catalogue credit over the past few years then chances are you were offered PPI – payment protection insurance. This was designed to protect your repayments in case you were unable to pay through redundancy or sickness.

However, thousands of people were missold PPI, or ended up paying without even knowing it – many of these people are now making successful PPI claims.

The banks tried to deny PPI claims were valid but lost in court – so now they have put aside £9bn solely in order to fund these claims.

It is quick and easy to make a PPI claim, you just need to get your paperwork together and write to your loan provider.

It doesn’t matter how long ago you took out the loan, but if it is an old agreement it will help if you still have the paperwork, as banks don’t have to keep records for longer then six years ago.
To find out if you were paying PPI check your credit agreements. If you don’t have the documents then contact the loan provider for copies. You can also check your credit rating, as this will have details of any insurance premiums you paid.

To make a successful PPI claim you must have been missold the insurance, possibly by being told it was a condition of the loan that you took it out, or not being told you would be paid interest on it.
Contact the loan provider with details of your loan and why you think you have a claim. They have to reply within a set time, and if you were missold PPI then you should get back the amount of the premiums you paid plus interest – the average payout on PPI claims is around £2,750.

If it is turned down, you can appeal to the Financial Ombudsman Service. Almost three-quarters of all appeals for PPI claims are upheld. For PPI claims why not try PPiclaimsline and see if you have a missold ppi policy take 10 mins

You’ve probably got a friend who has just told you all about the £4,000 they just received when they claimed back their PPI. They will have told you how easy and simple the whole process was and that they didn’t expect to receive so much money back.

You can hate them or you can join them. It might be time to think about your finances. Did you ever take out Payment Protection Insurance? If you signed up for a loan or a credit card in the last ten years, then you probably did.

The banks and loan companies, were trying their best to sell the policies. They made them a part of the loan application process. The even added them onto policies without the customer being told they had them.

PPI was a standard addition to any loan or credit card and you could have taken out an insurance policy without even knowing it.

It is very easy for you to check. Find any of your monthly statements and you should see an itemised list of everything you have spent on the card or the interest you have accrued on the loan. In this list you might see an amount attributed to PPI. It could be listed as Payment Insurance, Payment Protection, Repayment Cover or something similar.

If you have paid for this service and you did not know you were even doing so, you were probably sold PPI but not told about it. This has happened to a lot of banks’ customers, who were automatically given the insurance policy, but were not told they had to make monthly payments.

You can claim back the PPI payments you made. It is a straight forward and easy process. Most of the information can be entered online via a secured website.

Now is the time to reclaim the thousands of pounds that you paid for something you did not know you had and did not want.