There are some people that know they were miss sold PPI but do not like the idea of making a claim. There are a number of reasons for this, but it is important to remember that you are entitled to have the money back and so you should make a claim.
PPI Claims are made when someone was paying for the insurance but did not know they were paying it, did not want it or did not need it. This means that the person was paying for something unnecessarily and so they have every right to claim back that money that was wrongfully taken from them.
Some people think that they would not have been sold something they did not need. However, salesmen were very clever and often just included the cost of the PPI without breaking down the amount being paid in to separate parts so the customer did not realise that what they were paying was not just all going to the same place. It is therefore worth having a look to see whether you were sold PPI in any of the products that you purchased to see whether you can claim back that money.
There are a lot of claims being made and the lenders are being punished by having to pay out to customers. This is a good thing because it will make them think hard before doing something like this again. The hassle and expense that they have been through will mean that they will not want to have to suffer like this in the future. They should be made accountable for the deceit and stress that they have been involved in.
You may not realise how much you will be able to claim back in a PPI claim. Until you actually work out how much you paid and for how long for, you will not know the exact figure. It could add up to a very significant chunk of money and even if it is not a massive amount, it will still help you out financially and be able to cover some bills, pay for a few things or be able to be tucked away for a rainy day.
Therefore, as well as the financial benefits, there are other reasons for making a PPI claim. It is worth considering the fact that you are punishing the company that illegally charged you for money that you should never have been paying.