A ppi claim is a recent legal development that has been solved by allowing customers who were involved in the legal credit problem to get their money back.
The legal situation involved lenders of money through credit cards, mortgages and other means of lending. Certain lenders charged their customers what was called a payment protection insurance fee. The ppi was to protect the lender in case the customer could not make his payments to the lender for reasons like lack of employment or illness. What became apparent was that the insurance sold was misleading and therefore fraudulently sold. Many of the buyers of the ppi insurance found that it was impossible for them to claim their insurance coverage.
The new ruling now makes banks and other lenders responsible for identifying customers who were fraudulently made to pay for PPI insurance.
They are to notify such customers with a letter. The letter is to inform customers that they must file a ppi claim to get back the money they paid for the ppi insurance. The customer must contact the back or the lending institution and file a claim. People who know that they have paid for ppi insurance and do not get a letter can check for themselves and follow the process for making a ppi claim .
