12:13 14 November 2012
PPI, or payment protection insurance, is a type of coverage designed to help both the borrower and the lender. In case the borrower is unable to pay for the monthly premium, due to unemployment or temporary disability, the insurance will cover the monthly payments for up to one year.
Although PPI looks good on paper, it was widely mis-sold to thousands of unsuspecting borrowers. Banks and other financial institutions sold this insurance even if the borrowers didn’t need it; some are not even aware that they’re paying for it.
If you’re one of these people, you can file a PPI claim to get a refund. Here’s are four simple steps to tell you how to do that:
1. First step is to get the service of expert attorney or agency that has the needed experience and expertise.
2. Apply for an assessment and review. The second step is to have your claim reviewed to make sure that you really have a case and that you’re really entitled for a refund.
3. Have your claim estimated. This is for you to get idea on how much refund you can expect.
4. Wait for you refund. Keep in mind that the process will not be done overnight so it’s important that you have to have little patience.
Disclaimer: Supanet is not responsible for, and disclaims any and all liability for the content of comments written by contributors to this website