Showing posts with label PPI. Show all posts
Showing posts with label PPI. Show all posts
It's Thursday - let's get serious before the weekend hits. I've gone for the big one, a topic currently garnering pace in the media world - P.P.I.
People keep talking about it, but to quote my dear friends "WTF IS IT?" Why am I getting all these calls and emails from people trying to talk to me about PPI?
Firstly, they should let you know if your loan arrangement includes PPI – and if so, your lender should explain to you how much extra it’s costing you. But in reality, this has not always happened. And that's where the drama starts..
Right – let’s start with the basics.
PPI stands for Payment Protection Insurance – it’s normally taken out as insurance to cover your repayments in case you stop being able to pay. And we’re talking repayments for any sort of finance – not just personal loans, but also credit cards, store cards and car finance.
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What's the big deal?
The big draaama with PPI recently is that the lender is supposed to tell you a couple of things when you first take it out and, well they haven't - to quote Cilla Black "surprise surprise"..
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WTF is PPI?
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