If you are making a PPI claim, then you may wonder how much you will expect to get. You may have already put in a claim and be curious to know what you will get back or just wonder how much you might get if you did decide to make a claim. This can be easy to work out using a PPI claims calculator.
These can be found on a number of websites and will help you to know whether you will be getting a few pounds back or a few thousand. Some people do manage to get incredibly high amounts of money back. It all depends on how much you were paying and how long for. If you were paying it on multiple loans, then you will find that this could quickly add up.
Some people would rather wait and make the claim and see how much they get. Then they will have a surprise and will not be so disappointed if they do not get a pay out because they did not know how much they might be able to get. However, most people would like to know how much they might get. Some will only decide to make a claim if they think that the amount they will be paid is significant.
If you use a PPI claims company, then it is likely that they will let you know how much you will be likely to get. You should also be able to work it out if you know how much you were paying each month and how long for. However, a PPI calculator could make the sums a lot easier.
Some people do get astounding amounts of money in PPI pay outs but you need to be realistic. They will have been paying a lot in insurance meaning they probably had big repayment amounts and therefore higher insurance and they probably had more than one loan with it on. How much you get back is solely determined by how much you paid out.
Even if you are only due to get a small amount back, it is still money that you should never have had to pay out in the first place. Therefore it is worth claiming and getting that money as not only will it benefit you, but it will also teach the lender a valuable lesson.