Tag Archives: payment protection insurance

Reclaim PPI for free

posted by in Making money 67 Comments

Check your credit agreementYou’ve probably heard about the mis-selling of payment protection insurance, the “reclaim PPI” adverts, and the huge refunds some people have received. Because of the big payouts that some people are entitled to, claims management companies have sprung up, trying to earn commission by claiming refunds for you.

But reclaiming PPI isn’t as difficult as you might think, and we highly recommend that you reclaim any mis-sold PPI yourself. It’s free, and we can show you how.

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Reclaiming PPI for free works!

posted by in Budgeting Leave a comment

Update: We tweeted about our team’s success in reclaiming PPI for free and it looks like a MoneyAware reader had PPI success too…

A few weeks ago we told our clients that if they want to reclaim mis-sold PPI they should use the free tools and template letters available on MoneySavingExpert.com and Which? rather than expensive claims management companies.

However we like to practice what we preach here at MoneyAware so recently one of the team remembered a loan which he thought included PPI.

Our colleague followed the MoneySavingExpert.com advice on how to reclaim mis-sold PPI for free and lo and behold, six weeks later he received the following letter…

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Can I reclaim PPI while on an IVA?

posted by in Living with debt 29 Comments

This page contains information about debt solutions available in England, Wales and Northern Ireland. Debt advice in Scotland involves similar but different solutions. Before considering an IVA as a debt solution, please make sure you fully understand the risks involved. Please visit our website for more information.
Since we published this we’ve also written an article on Reclaiming PPI for free. If you’re on an IVA and want to reclaim mis-sold PPI it’s worth reading the article below and the one linked above.

Can I reclaim PPI?

To reclaim or not to reclaim?

Payment Protection Insurance (PPI) has been in the news a lot recently and many people are taking the time to check and see if they had been mis-sold any policies in the past.

PPI was sold with the understanding that it would cover borrowers’ loan repayments if they fell ill or lost their jobs. In many cases this has been found out to be false and mis-leading, and some customers were sold policies without their knowledge.

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Claiming PPI could be a scandal for those in debt

posted by in Living with debt 15 Comments

Since we published this we’ve also written an article on Reclaiming PPI for free. If you’re on an DMP or IVA and want to reclaim PPI it’s worth reading the article below and the one linked above.

Pounds on envelope

Unfortunately your PPI isn’t returned like this

The Financial Services Authority (FSA) watchdog recently announced that it had instructed the banks to write to a further 12 million people reminding them that they may be able to claim back PPI payments. But if you’re in a debt solution, watch out. Reclaiming PPI could be a double-edged sword that’ll leave you with more debt pain.

You may have seen and heard that payment protection insurance (PPI) is being repaid to millions of people after policies were mis-sold. The sums aren’t small; the banks have put £9 billion aside to pay back these claims.

And the likes of MoneySavingExpert.com are reporting that people are reclaiming their money. The FSA’s announcement will spur millions more people to get back money that’s rightfully theirs.

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