Credit cards are common place these days. Payment protection insurance policies are sold alongside the credit card agreements, and many of these policies were sold under false pretences. What is shocking is that the lenders often made credit card applicants feel that they had to purchase the policy, even though this is not the case. There is no need to buy the insurance, and if you feel you were one of many of had the insurance forced on them then you could make a ppi claim.
This is a fast process that takes around three months to complete. If you are successful you can claim back your ppi payments, which could up into the thousands. Credit card ppi policies are worked out on the balance of your credit card account. The cost each month depends on how much you are still borrowing against the card. The higher the outstanding balance, the higher the ppi costs.
Can You Make a PPI Claim?
You can go ahead and make a claim if you felt that the insurance policy was forced upon you as a condition of being accepted for the credit card. This is not the only reasons why you are able to make a ppi claim however. There are plenty of different people who have made a claim with different circumstances. These circumstances include:
- You were not told about your ppi policy and did not know you had it until you saw the ppi payments going out from your account
- You work as a civil servant, a nurse, public worker or for the armed forces. If so you do not need the policy as you are already covered
- Your insurance is not valid if you were not in work, self-employed, retired or were a student when you applied for the credit card.
To start the ball rolling with your ppi claim contact the experts using the online enquiry form. You can also call 08000 461 825 if you would like to speak to someone directly in the first instance.