2012年5月7日星期一

Claims advisory groups recommend that anyone that has taken out a loan in the past few years need to find out how much they can reclaim in PPI premiums. In the past few months, you might have seen reports on how the Financial Services Authority has fined a number of lenders and banks over mis-selling Payment Protection Insurance to consumers. In reaction, consumers have the option of getting back part or all of the money they put out for these PPI payments. Many people can make multiple claims due to payments on different loans and credit cards.

How can an online PPI calculator help? If you have taken out a loan in the past few years, you likely have some form of PPI coverage attached to your payments. You can estimate how much you can get back by using a PPI calculator. Many people find they may get back large amounts they did not anticipate. Different loan types often come with different PPI amounts. Some unsecured loans have PPI of around 13% while a hire purchase for a car could carry up to 56% in PPI costs. With a good PPI calculator, you can get an idea of how much you can reclaim. Claims advisory groups use 20% as an estimate in many cases.

How do you use an online PPI calculator? In order to use one of these calculators, you need a bit of basic information. You need to know whether it was a loan or a credit card PPI. The calculations are a bit different between the two options. You also need to know how long you have had the loan or credit card. The final bit of information was how much the loan or credit card was. That information will provide the calculator with all it needs to give you an estimate of how much PPI you are entitled to reclaim. Claims advisory groups note that people with joint accounts may receive a different amount.

Claims advisory groups also note that people need to make their claims for PPI recompense as soon as possible. Many people find they can get larger amounts than they suspected. Some people paid up to 56% of their loan value in the form of PPI payments. Banks sold this coverage without giving consumers the proper amount of information on what it was. Those consumers now have the right to reclaim part or all of it. It is important to make your claims as soon as you understand if your loans have PPI included in their payments.

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