Could You Be Owed Money?

Wouldn’t it be nice if you could come into a windfall and get money for nothing? You might be thinking that, yes it would be nice, but short of a lottery win, it’s not very likely, right? Well, not so fast; there are actually a surprising number of ways that the average person could be owed money, and that would be a nice boost to the bank balance, right?

Want to know more? Check out these very possible ways that you could be owed money right now.

1. The great HP claims mystery

If you’ve ever bought something, such as a car on hire purchase, you might want to pay attention. Whether it’s that shiny new car you financed or the swanky sofa you’re still paying off, HP agreements have been under the microscope. Turns out, a lot of these deals came with some less-than-transparent terms and conditions.

Cue: potential HP claims. If you were mis-sold an agreement or charged sneaky fees, you might be entitled to a refund. Yes, that’s right – those instalments that felt like they were never-ending could actually be a pot of gold at the end of your financial rainbow. Time to dust off those paperwork piles and check if you’re owed anything.

2. Unclaimed tax rebates: HMRC isn’t always the villain

We all like to grumble about taxes, but did you know you could actually be owed money from HMRC? Shocking, I know. Overpaid income tax, expenses you forgot to claim or a cheeky bit of marriage allowance you never used – these can all lead to cash sitting in the government’s coffers instead of your bank account.

The good news? It’s easier than ever to check. A quick online search or a call to HMRC could reveal a tidy little rebate you weren’t expecting. And let’s be honest there’s something oddly satisfying about getting money back from the taxman.

3. Dormant bank accounts: lost treasure, but boring

Did you open a savings account as a teenager and promptly forget it existed? Maybe you had a current account from your uni days that you haven’t touched since moving on to “adulting”. Whatever the case, millions of pounds are sitting in dormant accounts just waiting to be claimed.

The UK’s official tracing service can help you locate forgotten accounts, and you might be surprised at what’s still sitting there, quietly gathering dust (and maybe a bit of interest).

4. Refunds you forgot about

Ever bought something online, returned it and then forgot to check if the refund actually went through? It happens to the best of us. Retailers sometimes mess up or banks can be slow to process payments.

Don’t let it slide. Go through your recent transactions and make sure everything adds up. A cheeky email or call could result in money you didn’t even realise was missing.

Image by Nattanan Kanchanaprat from Pixabay

5. PPI and its never-ending encore

Yes, the PPI deadline may have passed, but new cases are still popping up. If you missed out on checking whether you were mis-sold payment protection insurance, there could still be a chance to claim. Some cases have special circumstances, so it’s worth consulting an expert to see if you have a shot at a refund.

Because let’s be honest, who doesn’t want a slice of that £38 billion pay out pie?

6. Utility bill errors: check before you pay

Gas, electricity, water – we pay them like clockwork, assuming the numbers are correct. Spoiler alert: they’re not always. Utility companies are notorious for overcharging, and most people don’t notice until it’s too late.

Review your statements, compare them to your actual usage, and question anything that doesn’t add up. You could end up with a credit on your account or even a cheeky cheque in the post.

7. Council Tax refunds: the sneaky overpayment

Did you know you could be paying the wrong amount of council tax? If your property is in the wrong band (which is surprisingly common) you might have been overpaying for years. And the best part? If you’re entitled to a refund, it could cover the entire period of the overpayment.

A quick search online can tell you how to challenge your banding, and even if it’s correct, you’re no worse off for checking.

8. Class-Action Lawsuits: join the club

Sometimes companies mess up big time and a whole group of customers gets caught in the crossfire. This is where class-action lawsuits come in. If a company you’ve dealt with is facing legal action for dodgy practices, you could be eligible for compensation.

Keep an eye on the news or sign up for alerts in your industry – whether it’s dodgy HP agreements or faulty tech, you might have a claim without even realising it.

9. Friends and family who “forgot” to pay you back

We’ve all been there. You lent a mate £20 for a takeaway or covered a round at the pub and it somehow never got repaid. While this isn’t exactly the same as a legal claim, it’s still your money!

Politely remind them or if that feels too awkward, invite them to dinner and casually mention the IOU over dessert. It’s time to reclaim your social debts.

Time to claim that money back?

Top image by Steve Buissinne from Pixabay