Payment Protection Insurance on Credit Cards
For many years Payment protection Insurance policies were mis-sold across the
financial sector.The worst part is that many of the people who were being sold
these policies were not even people who could be covered at the best of times.
This means that credit card companies were not being choosy about who they sold
payment protection insurance on credit cards to. PPI policies sometimes sold to anyone and everyone who received a credit card loan and this has caused a lot of chaos in the UK. Normally people did not know until they submitted a PPI claim and were told that unfortunately they were not eligible for coverage. If you were sold payment protection insurance on credit card then you will want to be sure you are not paying too much or that you are even a person who can receive coverage. People who are over the age of sixty five are often not covered so if you fit this description and were sold payment protection insurance for credit card anyway then you can fight to get your money back.
The Best Course of Action
In order to get a refund on money that you have paid out for payment protection insurance on credit cards then you will have to make a case. The first thing you should do is look at your bank statement and figure out exactly how much money you have been paying. Payment protection Insurance on credit cards is usually charged at approximately £1.50 per £100 outstanding on your balance. For example, if you owe £7,000 on your card you may be paying £105 per month - that's £1.260 per year! If you did not request the policy but it was forced on you then you have an even better chance of getting your PPI refund.
If you would like to make a claim for mis-sold payment protection insurance on credit cards call us today on 0207 471 2000. We have already recovered more than £50 million and resolve many claims in eight weeks.
Should you have any questions, call our team on 0207 471 2000.
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