Revealed: the 10 unexpected accounts that you could earn you a bumper PPI payout

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Payment Protection Insurance, or PPI, is insurance that will pay out a sum of money to help you continue paying your monthly payments on credit cards, store cards, catalogue payments, mortgages or your car loan if you experience an unexpected loss of income.

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But if you're asked to make a payment so that the money can be. often about 10 % of the amount the scammers claim you're owed in the refund.. They might also ask you to make the payment directly into a bank account, or using a. Step 1: Be suspicious of unexpected calls, especially if you're asked to.

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Were you mis-sold a paid-for bank account? fight back for free with our letter that could get you a share of 1bn in compensation. Banks have.

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Another rip-off insurance to avoid. Rights, Scams and Politics.. GAP covers the shortfall between your insurance payout and the outstanding balance on your credit agreement. In this respect, it’s a bit like ‘depreciation insurance’, as it covers you against the falling market value of your.

The banks and lenders would have you believe that PPI is a complex product, but in reality the basics are very simple. Payment Protection Insurance was an optional policy that was attached to finance products, such as loans, mortgages and credit cards. The insurance would cover the individual should they be unable to make the monthly payments.