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PPI Calculator Online

TryTrying to figure out how much you have coming when claiming back PPI can be a bit of a problem, especially if you aren't sure what you have been paying! Whilst there are times when the lender discusses payment protection insurance with you, and although the plan may have been misrepresented to you at least you know how much it cost. On the other hand, on some occassions the cover was added without the customer's knowledge. Then when you discover that you have been mis sold payment protection> you have absolutely no idea how much it cost to begin with and how much they have taken from you in the interim. When preparing a PPI claim it always helps to have that information at the tip of your fingers so that you can enter it into a PPI calculator online. Several sites have free use of their PPI calculator online but it is necessary to have the exact amounts to plug into the fields.

Where to Find the Cost

If you have figured out that you were mis sold payment protection insurance then there is a good chance you have your original loan documents. The amount you were charged will be on your closing statement as well as the rate you were charged. The way payment protection insurance is paid is quite a bit different than other types of insurance. The lender pays the insurance company a onetime premium and then that amount is added to your loan amount. From day one you are paying above and beyond the amount you borrowed for a cover you either didn't want or didn't know you had. At any rate, all of this information will be on the closing statement and you can use a PPI calculator online to figure exactly how much you have paid to date. Now that you have that information you may want to know a little more about what a PPI calculator online is so that you can better understand how to use it.

What Exactly Is a PPI Calculator Online?

Actually, a PPI calculator online is a software program that you can use to calculate how much money is owed you when filing payment protection claims. Y. You will usually find a link to one on the website of a PPI claims company and they are free to use. It's amazing how quickly you can get an idea of just how much money you have paid when you know a few simple facts. Once you plug in to the fillable fields the amount of the loan, the percentage charged in payment protection insurance and the length of the loan you can figure out exactly how much you have paid, or will pay, at any given time within the term of the loan. Similar to a mortgage amortization tool, a PPI calculator online amortizes the payments over the number of months you plug in and the calculations are based on the percentage which usually is anywhere from 13 to 56% of the amount you are borrowing.

If you would like to see just how much it is estimated that your lender owes you for mis sold PPI, try the PPI estimator on the website of Belmont Thornton. Then when you see just what you are looking at, talk to the claims team about claiming back that mis sold PPI.>

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