London, United Kingdom (PressExposure) June 25, 2011 -- Millions of people who've taken out a loan could be eligible to receive thousands of pounds back from their bank due to mis-sold payment protection insurance.
An article in the Newcastle Journal PPI News has reported that the banks have to pay back money to a large number of customers who have been sold PPI in the last 10 years.
Payment protection insurance was added to a number of loans, including mortgages, and was meant to cover your repayments if you found you couldn't pay due to sickness or becoming unemployed.
However, many people who were sold the insurance were actually ineligible to claim on it. This could be due to pre-existing medical conditions, being self-employed or other reasons.
The banks also used a number of high pressure sales techniques to get people to take out PPI and customers who didn't fully understand the terms and conditions of the insurance can also put in a PPI claim, as well as being who were told their loan wouldn't be approved without it.
The article also says that customers who have fully paid off their loan could be eligible for a refund of money, and if you think that you could be owed money, contact the PPI Claim Company today to start the process of claiming.
For more information visit: http://www.ppiclaimcompany.co.uk
Name: Belmont Thornton
Phone: 0207 471 2000
Address: Belmont Thornton
Suite 2, Unit 25
The Coda Centre
Postcode/ZIP: SW6 6AW