The basics

Hi everyone, I know you are all here to see if you are eligible to claim back your payment protection insurance (PPI) or loan protection insurance (LPI), and what is the process to reclaiming your mis-old payment protection insurance.

Firstly you are not the only ones who car claiming back your mis-sold PPI. According to government statistics 70% of all PPI was mis-sold before 2010. At the moment you can currently make a claim for PPI if you have had:

Mortgage/re-mortgage

Loan

Credit Card

Store Card

Finance

To successfully make an application you must have had one of the stated above before 2010. It does not matter how old the claim is, as long as there was a payment made within the last 10 years. So you may have taken out a mortgage 25 years ago but as long as you have made a payment within the last 10 years you are eligible to make an application to claim.

Secondly you can make a claim if u paid the credit off, you are still paying, or if you failed to pay the outstanding credit and it was passed to a collection agency or debt management, the only claim you cannot make for is if you are bankrupt or in a IVA.

A lot of customers didn’t  know if they have PPI or LPI, this is because they was either mis-sold or not told, or they may have forgot that they have took it out. You can find out if you have had the PPI or LPI by checking old paper work and reading the small print, it is not vital to find out but it would make it easier when making a claim for PPI.