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Do I have PPI?

5th December 2017 - posted by Chris McCabe

When it comes to payment protection insurance (PPI), there are a lot of questions about what it is and where it came from. A lot of people don’t realise that they are not only missing out on claiming their money back, but have PPI and are still paying for their mis-sold insurance.

Where could I have PPI?

PPI was sold with mortgages, loans and credit cards to cover the event that you could not repay. There are three levels of PPI cover:

  • – Unemployment only, which covers you if you are made redundant.
  • – Accident and sickness only, which protects you against accidents and long-term illness.
  • – Accident, sickness and unemployment, which covers you in the event of any or all of the above.

Am I paying PPI?

You credit agreement will contain information on whether you have PPI. Check your paperwork from previous loans and credit cards to see if there are extra charges. Phrases such as ‘protection cover’ could mean that you have PPI. If you no longer have your paperwork, you can contact your loan provider. They will tell you if you have PPI.

How do I claim PPI?

First Target Recoveries has years of experience handling PPI complaints. We handle every aspect of the reclaim process, from initial complaint to settlement so you don’t have to experience any stress and strain caused by your claim. We have helped over 65,000 people claim back their PPI compensation since 2011.

You just need to give us a list of the loan providers and banks you’ve previously used. We’ll do the rest. We might ask a couple of questions along the way, but we’ll do all the legwork for you.

From the date of receiving our initial complaint letter, the lender has eight weeks in which to respond with their Final Response letter.

If their Final Response letter is not acceptable, we will look to take your case to the Financial Ombudsman Service in order to ensure you receive what you are entitled to. If this occurs it could mean that the resolution to your case could take up to 18 months. With the deadline drawing closer, it is important to start the process as soon as possible.

Get in touch via our online form or call us on 0800 023 4953 to find out more and start the process of reclaiming what is owed to you.

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