Top Reasons You Should not Pay for Payment Protection Insurance

If you recently found out that you have PPI that you never actually bought by consent, then call the bank and immediately ask for the termination of the same. Make sure that you read the policy fine prints before you terminate, and if you are sure that it has been mis-sold to you, then you can claim complete refund as well, along with an interest on it.

The banks have made millions and billions selling PPI to unsuspecting customers like yourself, so it is your right to get your money back as well as refusing to pay any further payment for it.

Here are the top reasons why one should never pay for PPI –

  • Many people who take PPI think that they are totally covered but it is not actually true. Thus, it is only your responsibility in case you fall sick or is unemployed for a few months.
  • Most of the lenders will take time to sort the claim so at the start when you need the money, you will need to pay it from your own pocket or find another way to fund it. Also, in case you are sick and need help with the payment, chances are that you will be back to work before the lender approves the payment.
  • In case you are unemployed, self –employed, retired or a student, you will not be able to make a successful PPI claim and all the interest you pay will not be worth it.

These are the few reasons why you should refuse to own the PPI that is sold to you wrongfully. There are many good features of the policy as well, but when you look closely, you would find that those features are very complicated by nature and won’t allow you to get the money when you need it.

If you want more information on how to get your money back or how to file for refund claim, you can visit and get the details you need. It would help you glide through the process with ease and without worries.


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