If you want to claim back PPI you paid because you feel you are entitled to it then you must meet certain requirements. In addition, your PPI must have been a miss-selling under certain circumstances also. If you meet these conditions then you should be able to get a large amount of money returned to you.

If you have paid out charges and fees for PPI and it was sold to you inappropriately then you do have the opportunity to get all of that money back you have paid. The insurance must have been misrepresented upon the sale. If you were self-employed, retired, or a student when the insurance was sold to you then you will be considered. If you were taking out a loan from a bank and you were told you had to have the insurance or they would not approve you. Then you could be considered too. Many banks told customers they had to have this insurance and they did not. This allowed banks to make a lot of money from these fees on insurance that truly was not required.

If you were pressured in any way to purchase PPI then you are eligible to get your money back also. You must be able to provide proof of the pressuring and the circumstances you were in at the time of the agreement. Another way you might be eligible is if you purchased PPI and then you were not told that you could purchase the insurance from another independent provider for 80% less the cost.

You also should have been notified about any exclusion when you purchased PPI. If you were not notified about any of these then you could be eligible for a claim to have all of the money you have put forth toward PPI refunded back to you.

There are two primary refund requirements for PPI. The first requirement is that you must have had the insurance within the last six years. Six years isn't an exact cut off but it makes it easier for you. If it has been more than six years since you have had PPI then you can try to fight it but it will be a difficult battle. Be sure you have all of your documentation and proof you had the insurance.

The second requirement for being refunded of your PPI is that you must not have made any claims against your policy and been successful. If you collected a claim against your policy then you are not eligible because this means you recognized the policy and you used it for your benefit. If you never made any claims or if all claims you made were denied then you will be eligible for a refund on your PPI.

Many people were sold PPI and they didn't have to have it. If you were one of those people pressured into purchasing the insurance or tricked into buying it then you are eligible to get all of your money back. Be sure you meet all of the requirements and if you do, then its time to do something about it.