PPI refunds explained

PPI refunds, PPIIn the year 2011, the Financial Services Authority made several banks pay 1.9 billion dollars to compensate according to the Mis-Sold Payment Protection Insurance (PPI). The procedure is still in progress and it has been estimated that a total of 8 billion dollars have to be given out. If you want to know whether you are entitled under the PPI then read on for more information.

First of all, you need to find out whether you have a PPI policy or not. Many people have been sold the policy without notice so it is necessary to check credit card details and bank account details for a confirmation. There are times and reasons where one person is not entitled to be a part of the PPI. This is mainly if the person was unemployed at the time of the insurance. Also if you were more than 65 years old at the time of the insurance takeout, you’re not entitled to be a part of it now.

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