The payment protection insurance allows the debt to settle down in small time and the borrower feels relaxed. After that, he has a lot of time to repay the amount to the payment protection insurance company which helped him in the time of need. If you think that along with paying of debt, you have been came across any mis sold ppi, or your loan and interest rate includes the amount of payment protection insurance, then don't worry you can get it back. First of all make sure that you have been a victim of such fraud or not. For this, you have to consult with your legal and financial advisor who will tell you after checking and verifying that it is right or not. If you are really a victim of mis sold ppi, then you have your legal rights and your position is strong to negotiate the amount you have paid in form of the payment protection insurance policy premium.
It is written in the financial laws that the banks and the financial institutions have to follow some strict rules for provision of the payment protection insurance to the customers. If they don't follow them, they are guilty and the customers can file a strong case against them. Many precautions have been taken to stop the mis sold ppi problems but it has not been stopped completely. Yet it has been lessened a little bit because people are now aware of this process of mis sold ppi and they are aware of their legal rights too.
Sometimes the cases are like this that the people who go for getting a loan are not aware that their premiums and interest rates include the amount of payment protection insurance. It is the responsibility of the company to tell the customer and make him agree that he needs ppi or not. The banks and financial institutions don't tell their customers that they are going to pay extra. People are informed after they have signed the contracts and then they are allured in the benefits of the payment protection insurance. People say that it is ok for them and the company gets its advantage. But according to the law, the ppi must be offered separately and the customer mustbe aware of it. There is a separate contract for this.