Did you know that whenever you take out a loan, companies add on extra charges? Most of the time these are charges that we are not aware of in return for services that we don’t need.

Payment protection insurance(PPI) is one of these mysterious charges that companies feel they can just add on to your borrowed amount. It is usually payable each month so over the course of the loan you end up paying much more than was necessary.

This mis sold PPI is unfortunately not a rare situation with many people in the same boat. The great news is that people are becoming much more aware of this money making tactic and are starting to claim it back.

That’s right – If you feel you have a mis sold PPI on any borrowed amounts then you are entitled to claim it back. This good news is made even better by the fact that it doesn’t matter what type of loan it was (credit card, bank loan, mortgage) you can claim it back. The even better news is that you are probably entitled to interest to be paid on the money you have paid the bank that you didn’t need too.

Banks hold your records for 6 years, so if the loan was in that time you have case for a claim. If you hold your own records you can go back even further.

Don’t worry about these hassle of doing all of this yourself because a company like Gladstone Brookes can really help. They are a specialist PPI company and their team of staff work hard to get your money back for you. Banks know that they are in the wrong for this charge and tend to settle quickly.

The extra lump sum could come in really handy at a time most of us are struggling for cash, so why not make your claim now?