If you are not sure whether you have paid for PPI (or payment protection insurance), you are not alone. Many people have purchased loans or other products without being aware that a PPI was a part of the deal. Thankfully, there are several ways that you can check to see if you have had PPI.
If you have taken out a loan, gotten a credit card, financed a car, or gotten a mortgage between 1990 and 2010, it is likely that a PPI was connected to the product. To confirm this, there are several things that you can do.
Check Your Paperwork
The first thing you will want to do is check through any paperwork that you have for your credit card, loan, or mortgage. The words “PPI” or “payment protection insurance” may be present in the document, but the insurance may be listed using one or more of numerous other titles. Examples include language such as payment cover, protection plan, loan protection, ASU, loan care, mortgage payment protection insurance (or MPPI), loan repayment insurance, credit protection, credit insurance, and more.
Search for this language in the entirety of the document as it may appear anywhere. You can also check for it in any statements that you have received from the provider throughout the time that you made payments.
Check With your Provider
If you are unable to find PPI listed anywhere in your paperwork, or are not sure if what you read was PPI, do not be afraid to contact your provider to find out for sure. Most banks and other providers have a budget set aside for refunds, and most employees will have specific instructions for how to assist you should you call to ask about PPI. Your provider will not take it personally, and will be able to quickly answer your questions.
Your provider will generally ask for your name as well as your date of birth, place of residence, and previous addresses. Although having documents on hand can be helpful, it is not necessary to begin the process.
Contact a Solicitor
A solicitor, such as Paxton Willis, can do all the work of contacting your provider, checking to see if you have had PPI, and working to get your refund so that you do not have to. We specialise in mis-sold PPI and will get you a quick refund. We do a free no obligation PPI check to help you determine if you have had PPI.
If you have gotten a credit card, mortgage, vehicle, or other loans in the past 30 years, it is likely that you were mis-sold payment protection insurance. The deadline for PPI claims is August 29, 2019, so now is the time to take action to see if you are eligible for a refund.