June 2011

Loan Payment Protection Insurance

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Loan Payment Protection Insurance
If you are in debt then that will mean that you have at some point taken out a loan (or several) – as all debt is is loans that you need to pay back. It then follows that the larger the loans you took out, the larger the amount of debt that you need to pay back – so you need to be careful in choosing your loans in the first place, and you need to ensure that you are aware of any hidden charges that might exist.
This is particularly true of something called loan payment protection insurance (also known as simply loan protection insurance). Many people are paying over the odds on loan payment protection insurance and are unaware that they are even doing so and this is something that is currently causing a lot of controversy in the media. If you fall into this category then you may be able to claim back some money, and if you don’t then you at least should be aware of the problem to avoid getting into trouble in future.
In theory loan repayment protection insurance is a good idea. As the name suggests this is insurance that you …