Ripped off by the bank? Get your Payment Protection Insurance money back…

Ripped off by the bank? Get your Payment Protection Insurance money back…

Payment Protection Insurance or PPI, which repays some or all of your loan if you cannot work because you fall ill or lose your job, can add as much as 16 per cent to the cost of a loan.  Adding the PPI on a five-year personal loan of €15,000 could cost you as much as €3,000!

About half of those who borrow money from a bank take out PPI but as few as 10% ever make a successful claim.

A review by the Financial Regulator found that the following:

  • That financial institutions sold PPI to customers because they were eligible, rather than suitable, for the products.
  • The regulator found that firms were not providing customers with key information about PPI and expressed concern about the lack of documentation provided to customers.
  • The review also found that customers who were due a refund on PPI after repaying their loan early did not always get their money back.

The long and the short of it is you may actually be due money back on your bank loan!

Luckily there is a service that can help you. The people at Refund.ie will help you to pursue legitimate PPI complaints.

Their team of experts will review your case with the aim of achieving a refund and/or compensation.

Worth a visit if have a bank loan – it’s about time you got some money back from the banks after the billions that have been poured into them.

Link: http://www.refund.ie/


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