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Is it possible a PPI reclaim couple pay of my debt?
A few years ago Payment Protection Insurance (PPI) was hailed within the industry as one of the biggest profit-making products a lender could sell. Interest on loans and credit cards don’t actually generate as much money for a lender as most people think, but insurance on the other hand can generate extra money easily. For every 100 a lender charges for insurance on a financial product like a loan or a credit card, there is an 85% chance a customer will either never need to use the insurance or if they do their claim won’t be honoured due to exclusions being in force, so the lender gets to keep all of the money.
