The payment protection insurance scandal has affected millions of people so far. Indeed, it is said that as many as four million people have successfully claimed, or have claims underway. The amount of money put aside by the banks for repaying mis-sold policies exceeds £12billion and is expected to increase. How do you work out whether you can claim, and how much you might be entitled to? The best way is to use an online PPI calculator, which will give you an idea of the amount you may be awarded if you have a successful claim.
Why Do I Need a PPI Calculator?
PPI is a term that applies to a range of insurance policies. These are designed to keep up the repayments on a loan or mortgage in the event you are made redundant. The problems came about when many policies were found to have been sold in a manner that was not within the regulations. A PPI calculator will work out, from the size and length of your loan, how much you have paid. To start your PPI claim today or to find out more about claiming compensation, simply fill out the form above or give us a call for free on 0800 111 6887 and speak with one of our advisers.
Can I Claim Back PPI?
If you have a loan or mortgage – or have had in recent years – you may have also been paying into a PPI policy. At the point of sale of the policy you should have been given a clear explanation of PPI, and of your right to shop around for the very best policy. Many people were not given such explanations, and were instead sold policies by the lender. This sort of practice has now been outlawed, and many who were sold such policies have used a PPI calculator to find out how much they could claim.
How to Use a PPI Calculator
The best way to claim back PPI charges is to use a solicitor with expertise in the field, and you can use a PPI calculator to get a rough estimate of how much you are entitled to. The average payout, so far, is around £2750. To start your PPI claim today or to find out more about claiming compensation, simply fill out the form above or give us a call for free on 0800 111 6887 and speak with one of our advisers.