Payment protection insurance makes it certain that your loan installments are not missed when you are unemployed, have a medical condition or meet with an accident. We can say that the insurance policy saves you from huge late payment penalties or defaults and a bad credit history in your name. However, will the policy really work for you? that is the question you must answer to find out if the lender mis-sold payment protection insurance to you. Continue reading
Did you buy a loan in a hurry from a bank or any other source without reading the fine print? Check it again, as there is a possibility that the lender is charging you extra money in the form of payment protection insurance. You may not be in need of the PPI but you are paying for it. In millions of cases, lenders cheated on the borrowers and took advantage of their desperate need for funds, by offering them the insurance. Continue reading
If a lender mis-sold a Payment Protection Insurance (PPI) Policy to you, it is time that you make a claim for compensation. There are many bases to look out for when you intend to find out if you are a victim of PPI mis selling scandal.
PPI mis-selling happens when the lenders, banks and credit card providers sell a PPI policy in a way that is against the rules and regulations set by the Financial Services Authority (FSA). These rules protect consumers from unjust and dishonest business practices. Anyone can know about these rules in the FSA regulatory handbook as Continue reading
Payment protection insurance claims and loan refunds are becoming very popular amongst whole population of UK. In fact, it is a policy that provides compensation payments on the loan in case the borrowers cannot make the payments due to injury, illness or unemployment. It is also an insurance policy designed to cover and outstanding debt. However, it is estimated that 70% of people in UK may have been mis-sold and they need to reclaim about PPI. In order to get back their money, it is necessary for them to reclaim PPI to the higher authority of insurance companies.
You don’t need to be worried to find out the genuine companies related to PPI since there are numbers of companies available in UK. With the aid of internet, you can easily search about reclaim PPI on your own. The first step for the reclaim is that you need to write your request about refund to banks or any other related companies available.
If the bank is unwilling to pay the compensation then it is necessary for you to go further legal action up to Ombudsman. Be patient and persistence in order to recover your lost money. Getting assistance from the leading companies will increase the chance of getting the compensation plan of PPI with ease. The varied online companies are also holding expert lawyers that can easily fight against the law and they will surely help you to great extent. For the charges that you need to pay for them is also very reasonable.
Reclaiming PPI has been a big issue for all victims after they know that they are mis-sold about the policies by various organizations. As a customer, you need to understand rules and regulations about how to reclaim PPI to get the desirable amount of money in your bank account. Here are some tips how to begin reclaim PPI policy premium:
- You should read and review your policy.
- You need to find out which category you fall under to qualify for a complaint.
- You have to submit the claim with proper paperwork for complaintsWith these tips, you can easily acquire compensation from the companies in easier manner.
PPI policies are mis-sold to various customers. So, they need to apply for reclaim PPI in order to avail funds in the least possible of time.