What PPI is
PPI which is an acronym standing for Payment Protection Insurance is a type of insurance that is usually offered by a bank, a person or a company whenever you get a loan, a storage card or a credit card. Its role is to make sure that the payments continue to be made even if the person that borrowed the money gets sick and he no longer can do it, or if he loses his job and he remains unemployed.
Getting your money back
PPI is not very known, which is why most people don’t claim it. However, there are many companies out there that cannot wait to help you get the money back, provided that they get a share no larger than 30% out of the final sum of money they will obtain for you. Usually not all bank loans, credit cards or storage cards offer a Payment Protection Insurance when they offer these to new customers, but most of them do. This can be great for many, but a con of PPI is the fact that not many people actually know about it, thus remaining without the money that they should be actually given.
PPI covers the minimum loan payments for a particular period of time, usually no longer than 12 months. After this period of time, the loaner will get back on his own feet and be able to pay the rest of the credit by themselves without needing to require the assistance of companies that deal with this type of work.
iSmart is one of the many companies that offers to get the Payment Protection Insurance (PPI) for you. What differentiates iSmart from the hundreds of other online companies that offer the same services is the fact that they are fast, the process taking no longer than 50 days to be finished, out of which 40 are required by the lender to submit all the necessary documents. After this, they will tell you if you are entitled to a Payment Protection Insurance, how much it values, and if you are willing to let them take the case and obtain the money for you, in a little while, they will do just that.
Compared to other companies out there, iSmart does not charge anything unless they obtain the money for you, in which case they demand 25% + VTA from the final sum of money.