Are you looking to see how much you could claim back after being mis-sold PPI (Payment Protection Insurance)? Well look no further we have the best PPI Claims Calculator to use to calculate approximately how much you could claim. First of all let us explain some of the basics and the key terms for you to understand the process a lot better.
What Is PPI?
PPI is the abbreviated term for Payment Protection Insurance, a specific insurance policy created to help you pay your loan or credit card repayments incase you cannot work for a extended length of time. So just to make clear, this scheme was developed to actually help people with their repayments, however a lot of customers that have paid a premium for this insurance have been complaining that when going to actually make a claim the process has been very difficult and not always worked with has then in fact actually made it harder to meet their repayments.
Can I Claim Back My PPI?
You can claim back PPI if you have taken out a load, credit card or mortgage and you feel that were mis-sold the PPI. Using the PPI claims calculator (at the bottom of the page) you will be able to calculate an approximate claim value.
Here are some figures to give you a ball park idea of how much you could claim back:
- £8993 Unsecured personal loan – £2217 PPI Premium (25%)
- £5059 Hire purchase for car – £2157 PPI Premium (43%)
- £25000 Secured loan – £12127 PPI Premium (49%)
*Source: Citizens Advice Bureau PPI Report Findings Sep 2005
Using the PPI Claims Calculator you will be able to work out an estimated claim value, PPI is often added to the following:
- Home Loans
- Car Loans
- Secured Loans
- Unsecured Loans
- Credit Card Charges
If you have any of these products and are paying a premium for PPI you could be able to claim back a significant amount and really reduce your monthly repayments, leaving you with more money and a better quality of life.
We suggest before using the PP Claim Calculator you visit this page to see if you are eligible to make a PPI claim.
Once you have an idea of how much you could claim, you will then need to get in touch with a financial claim specialist, now this is the downfall the guys that actually make the claim for you will take a % of the money claimed back, usually around 20% so choose wisely.