Are you paying for a payment protection insurance (PPI) policy you did not want. Were you given a policy you did not actually need? You may be able to reclaim your cash. A new ruling from the Goverment has made it possible for millions of people to get back the money they’ve paid out on pointless and unwanted PPI.Payment protection insurance , sometimes called loan protection; or abbreviated as PPI , covers your loan or debt repayments in the event of certain problems for example , if you are unable to work because of illness , or if you are made redundant.If you have ever taken out a mortgage , loan , credit card or store card , or bought something on credit , then the chances are someone tried to sell you Payment Protection Insurance (PPI) at the same time. PPI is also known by many other names , including such things as loan insurance , debt repayment cover and credit protection insurance.The purpose of PPI is to protect the loan by ensuring that you are able to keep up with your repayments if unexpected financial disaster were to befall you. Many PPI policies have been mis-sold which means you may spend a lot of money on expensive insurance you will never be able to claim on.Some people have been signed up to buy PPI without realising it , or asking for it , and others have been unaware that it is often much cheaper to buy standalone PPI rather than buy a policy from the firm that sells you the mortgage , loan or credit card.If you have been mis sold PPI and would like us to handle your claim , contact us and we will send you details of our services. When sending us any correspondence , please ensure that you do not send us any original documentsWe manage the entire PPI claims process on a success fee basis , whereby we charge 25% (including VAT) of any compensation amount awarded. There are no upfront fees and our success fee only applies if we win your claim.How do I know if my loan qualifies for a claim? If you are: – Self Employed – Retired – Student – Have an ongoing medical condition – In the armed forces – Have a dangerous job – Receive long term sick pay from work – Had the insurance added without your knowledge – Pressurised by the salesperson into taking the insurance you will qualify to make a claim How can I calculate my claim? On a loan simply multiply the number of months you have paid for the insurance by the monthly premium and this will give you a good idea of how much we will look to reclaim for you.On a credit card application it is not a set amount that you pay each month for your insurance so it is harder to calculate. On credit card claims we always apply to your lender to request all your backdated statements so we can calculate an exact figure.On all claims we ask that interest at 8% is added to the refunded money as the Government has ruled that this percentage should be added to the mis-sold PPI claims , simply for the inconvenience caused to the customer.How much will it cost? As mentioned , it is on a NO WIN NO FEE basis. We do not charge a single penny unless we win on your behalf. However , our fees are only 25% including VAT of a successful claim. Your actual claim value figures will be based on:What your actual loan APR is.When the loan started .Whether you have had any rebates at all.Whether the loan was mis-sold.