How to Claim Back Money you May be Owed

How to Claim Back Money you May be Owed

You could be owed thousands of pounds you didn’t even know about from being mis-sold PPI to missing out on household benefits. Here we’ve got some top tips to make sure you don’t lose out on any money you could be owed.

Mis-sold PPI

If you’ve ever had any sort of loan or credit agreement in the past 30 years, it’s possible you could have been mis-sold PPI. Payment protection insurance covers any repayments for loans if you can’t make them because you are ill or have lost your job.

Many people were mis-sold PPI as they were told they had to have it to take out a loan or they were self-employed, meaning they wouldn’t have been covered anyway. If you think you have been mis-sold PPI, you only have until August 29, 2019, to put in a claim.

Claiming Benefits

Between 2016-17, households across the UK failed to collect over £10 billion worth of state benefits. These benefits included pension credits, housing benefits, and income support. There are free calculators online to help you figure out how much you could be claiming in benefits.

Checking Council Tax

When the council tax bands were drawn back in 1991, they were done quickly and not very accurately. This means that neighbours found they were paying two completely different sums of money in council tax each year. Council tax is based on property size, and all of the bands are available online to view. If you think you are paying too much, challenge your local council as you could be saving £1000s a year in council tax bills.

Savings in ISAs

The Help to Save initiative means that Brits can be getting up to £1,200 every year in free cash from the government. For every £1 you put into the ISA, the government rewards you with 50p. The account allows you to save up to £2,400 every year, meaning you could be missing out on total savings of £3,600.

Lost Bank and Savings accounts

There are free online services that can reunite you with any lost savings and bank accounts. You could be owed hundreds of pounds sitting in various savings accounts you have forgotten account. There are also child trust funds, around 2 million of them in the UK, that remain untouched with money owed to the trustee.

Although we specialise in finding people a great deal on a personal loan, we hope that you find this and our other articles of interest, our aim is to provide you with upto date, valuable hints and tips on saving money, budgeting, home finance tips and recovering.