August 28, 2011
Payment Protection Insurance Reclaim
Payment Protection Insurance, (also known as PPI, credit report protection insurance, loan pay back insurance, not to be mistaken with income protection or credit card cover) is an insurance product that is often designed to insure a debt that is currently outstanding(only salary reimbursement protection, or the Competition Commission preferred term short term IP is not precise to a debt but covers any income). This unsecured debt is PPI often covers minimum loan (or overdraft) payments for a definite span (typically 12 months). After this point the borrower must find some other means to pay back the debt, through the period of time covered by insurance is typically long enough for most people to start working again and generate enough to service their debt
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