CREDIT CARD protection insurance

polomint_2

This is a post on behalf of a friend. They are badly in debit and have been silly to use various credit cards to which now they have stopped but they have also only just realised that on two of them they have been paying protection insurance.

What would this be for?

And if they didnt know they were paying this can they claim it back?

Many help in advance.

If it has already been posted please can some one direct me to some links for help.

He needs all our help.

Many thanx.

HouseHuntr

It could be claimed back IF misold as many PPI policies seem to have been, but if it wasn't and maybe was just an error in accepting it then possibly not. PPI is basically an insurance policy to cover debts on the card in case of illness,loss of job etc.

Ask the card company for the signed copy of the credit agreement to see whether the box has been ticked to accept it or not.

They would have known it was being paid as it should have been displayed on the monthly statement.

I think there are a few threads on this subject, just type PPI in the search box and I'm sure you'll find some.