PPI Claims Made Easy: The Benefits of Using a PPI calculator
PPI Claims Made Easy: The Benefits of Using a PPI calculator

If you have ever taken out a loan or a credit card, there’s a chance you may have been mis-sold Payment Protection Insurance (PPI). PPI is an insurance policy that was sold alongside loans, mortgages, credit cards and store cards to protect you if you suddenly became unemployed, had an accident or were unable to work due to illness. Unfortunately, many PPI policies were mis-sold to people who would never be able to claim on them.

The Financial Conduct Authority (FCA) launched an advertising campaign in 2017 to encourage people to make a claim for mis-sold PPI before the August 29th 2019 deadline. With less than a year until the deadline, it’s important that you act fast if you want to make a claim.

Making a claim for mis-sold PPI can be a challenging process, but there is a tool that can make it much easier – a PPI calculator.

What is a PPI calculator?

A PPI calculator is an online tool that helps you calculate how much PPI you may have been mis-sold. It takes into account the amount of your loan or credit card balance, the length of time you were paying for PPI, and the interest rate of your loan or credit card. Once you have inputted this information, the calculator will work out how much PPI you have paid and how much you could potentially claim back.

There are many benefits to using a PPI calculator, including:

1. It’s easy to use – A PPI calculator is a straightforward tool that’s easy to use. It requires minimal input from you and does all the work for you. All you need to do is enter a few simple details and the calculator will do the rest.

2. It saves you time – Calculating how much PPI you have been mis-sold can be a time-consuming process. Using a PPI calculator saves you time and effort, leaving you free to pursue other things.

3. It ensures accuracy – The calculator‘s sophisticated algorithms ensure there’s little room for error when it comes to calculating how much PPI you have paid and how much you may be able to claim back.

4. It helps you understand the process – Whether you’re new to the world of PPI or have already started the claims process, a calculator can help you understand the process and give you an indication of how much you may be able to claim back.

5. It’s free – Most PPI calculators are free to use, so you won’t have to pay anything to find out how much PPI you may have been mis-sold.

FAQs

Q: Who can use a PPI calculator?
A: Anyone who has taken out a loan or credit card and suspects they may have been mis-sold PPI can use a PPI calculator.

Q: Are PPI calculators accurate?
A: Yes, PPI calculators are known to be very accurate and use complex algorithms to ensure their calculations are correct.

Q: How do I use a PPI calculator?
A: Using a PPI calculator is easy. Simply enter the amount of your loan or credit card balance, the length of time you were paying for PPI, and the interest rate of your loan or credit card. The calculator will then work out how much PPI you have paid and how much you could potentially claim back.

Q: Do I have to pay to use a PPI calculator?
A: No, most PPI calculators are free to use.

Q: How much can I claim back using a PPI calculator?
A: The amount you can claim back using a PPI calculator will vary depending on the amount of PPI you have paid and how much you were mis-sold. However, some people have been able to claim back thousands of pounds.

Conclusion

If you suspect you may have been mis-sold PPI, it’s important that you act fast and make a claim before the August 29th 2019 deadline. Using a PPI calculator can make the process of claiming back what you’re owed much easier and quicker. Not only will it save you time, but it will also ensure you get an accurate calculation of how much you may be able to claim back. Don’t delay – try a PPI calculator today and see how much you could be owed.