What am I eligible to claim back for?

You are eligible to claim back the whole amount of payment protection insurance (PPI) or loan protection insurance (LPI) if you was mis-sold, you can also claim back for interest and compensation of 8% each year compounding. You may be asking yourself why you can claim back extra money, this is because the banks have had your money and you haven’t been able to spend it, as you may have been able to put your money in a high interest bank account. Also you have had compensation because you have taken the time and stresses of claiming back your mis-sold PPI or LPI.

The hardest part about making a claim is being able to show the banks you was mis-sold the payment protection insurance, although the majority of the major lender are very willing at giving you some of the money back you must be very careful in that, most cases with Lloyd’s which i have experienced they will offer u a settlement fee which is normally half the amount you are might be able to get back. The bottom line is that if you was mis-sold PPI or LPI then you are entitled to claim back the full amount plus 8% per year.