Did you know that as well as being able to raise finance through a log book loan you could potentially claim back thousands if you were mis-sold PPI. Millions of people within theUKhave been sold PPI incorrectly, most were not eligible to have, claim on or use PPI if needed.

PPI or Payment Protection Insurance was sold by the biggest high street banks and lenders during the process of applying for personal finance to cover a car purchase, mortgage, general loan or credit card. Banks mis-sold the policy but have now been hit with multi-million pound fines, with Lloyds alone setting up £3.2 billion pound provisions to cover the refunds they expect to pay for mis-selling PPI in 2012.

You can find out very easily whether you could claim back

The average claim for being mis-sold PPI is around £2,000 and with millions of people in the UK able to claim it’s time to check your statements, policy documents and application details to see if you have been paying for PPI without knowing or accepting it.

The best way to find out if you have been paying for PPI is to check your statements and policy documents for extra charges either monthly or upfront as part of the application for finance. You should be on the lookout for anything described as ‘protected’ or any additional charges on the account each month or upfront that you do not understand.

Once you have identified whether you are paying for PPI or not, you need to understand whether or not you were actually mis-sold the controversial product. There are several very common reasons for mis-selling, you were mis-sold PPI if:

• The lender told you that PPI was compulsory or that having it would benefit your application
• The lender didn’t tell you that PPI was optional and that it could be purchased elsewhere
• The lender didn’t tell you about the policy exclusions including back and stress related time off work
• You were unemployed, self-employed or retired at the point of sale
• The lender didn’t tell you that PPI covered a period of 12-24 months so it would not cover you for a loan for longer than that period
• The lender added PPI to your account without your acceptance or knowledge

If any of the above criteria is what you experienced in dealing with your lender then you can claim a refund – on average £2000 for being mis-sold PPI.

How to make a claim

So if you can identify that you have been paying for PPI and were mis-sold the policy the chances are that you can claim back a refund.

The next step is to decide whether or not you want to pursue the claim by yourself or through a PPI claims company like Brunel Franklin.

Using a PPI claims company like Brunel Franklin can be extremely helpful, as they know the market inside out they can often identify other policies that you can claim on that you didn’t know about, 75% of an extra claim or 2 is better than 100% of 1 claim.

Sally Bowyer, Managing Director of regulated financial claims specialist BrunelFranklin.com said, “The average PPI refund handled by Brunel Franklin across all types of PPI policies is in the region of £2,200. Brunel Franklin’s largest ever PPI win of any kind a staggering £27,000 payout against another First Plus policy back in 2009.”

Learn more about PPI refunds and find out if you could apply for a refund today! Visit the website www.brunelfranklin.com or call Brunel Franklin, free, on 0800 051 54 51.