Payment Protection Insurance: Have you been mis-sold a policy?
>> Tuesday, July 5, 2011
Payment protection insurance can be an intelligent and practical way of covering yourself if poor health or unemployment impact upon your financial situation. Whether you are making mortgage or credit card repayments, the inability to keep up with those payments could have serious consequences.
However, within the last 5 years tens of thousands of cases have come to light where individuals have been mis-sold payment protection insurance. In 2010 alone, almost 50,000 individual cases of alleged mis-selling were reported to the Financial Ombudsman. The scale of the issue can be in no doubt and people are becoming increasingly frustrated as they search for a method with which to gain ppi refunds. This is where the PPI Claim Company can help.
At The PPI Claim Company our aim is to make claiming back bank charges as simple and straightforward as possible. We work on your behalf to investigate cases where PPI was potentially mis-sold. We negotiate with the lender and aim to get each customer a full refund of all premiums paid plus 8% interest.
If you are unsure whether or not PPI was mis-sold to you, there are a number of questions that you may wish to ask yourself. Were you told at any stage that you had to have PPI? Were you told you could only have the loan, or have an improved chance of being approved for credit, if you took out the PPI? Were you unemployed, retired or in full time education when you were sold the policy? Answering yes to any of these questions means there is a strong possibility that you could make a ppi claim.
PPI refund claims are not as complicated as you may first think and besides, the PPI claim company will take care of the whole process for you. We work on a No Win No Fee (*see our terms of engagement on our website) basis and have a vast amount of experience dealing with these types of cases. It is also important to remember that there is no limit to the number of PPI claims you can make.
Another important factor to consider is the broad spectrum of purposes for which PPI could apply. For example, you could have been sold PPI on your loan, credit cards, mortgage, store cards or a higher purchase agreement for a car. The list really is endless so it is probably a prudent idea to check back through all your recent major purchases and outgoings to see if a claim is possible.
PPI is a contentious subject in the current climate for a number of reasons. As already stated, this very specific type of insurance is a good idea for people who find themselves in challenging circumstances when carrying out repayments.
There are a number of positive examples where PPI has served a very important purpose for such people. However, the key point is that there are also an increasing amount of examples where a PPI policy was sold recklessly and unnecessarily. For people who are applying for mortgages and credit cards for the first time, the whole experience can be daunting and confusing. They are essentially putting their faith in the hands of the salesperson they are dealing with, therefore assuming they are receiving valuable advice at every stage. It has become increasingly clear though that as the amount of cases where PPI has been mis-sold have stacked up, the techniques employed by some sales people may be called into question.
Reports have emerged of people being misled into believing they had an improved chance of being given credit if they took out insurance. Such tactics are a perfect example why the issue began to spiral out of control and why so many policies were sold without sufficient reason.
Banks have also been accused of having mis sold payment protection policies to candidates whose circumstances meant they were unsuitable. The nature of PPI means that it exists as a back up plan should your individual circumstances change and you require financial assistance. To sell a policy to somebody who is unlikely to require it due to being retired or unemployed is baffling.
The issue of PPI refunds can appear complex and time consuming when you consider everything involved, but that is where the PPI Claim Company can help. Even if you suspect that you have been mis-sold payment protection insurance but are unsure of the process, contacting their claim team can help give you a clear idea of what to do and how to approach the issue of PPI refunds.
The recent message coming from the banks is that they would prefer anypayment protection claim to be made through them. Would you rather put your faith in the company that may have mis-sold the policy in the first place, or an independent company who specialise in the issue? The choice is yours.
However, within the last 5 years tens of thousands of cases have come to light where individuals have been mis-sold payment protection insurance. In 2010 alone, almost 50,000 individual cases of alleged mis-selling were reported to the Financial Ombudsman. The scale of the issue can be in no doubt and people are becoming increasingly frustrated as they search for a method with which to gain ppi refunds. This is where the PPI Claim Company can help.
At The PPI Claim Company our aim is to make claiming back bank charges as simple and straightforward as possible. We work on your behalf to investigate cases where PPI was potentially mis-sold. We negotiate with the lender and aim to get each customer a full refund of all premiums paid plus 8% interest.
If you are unsure whether or not PPI was mis-sold to you, there are a number of questions that you may wish to ask yourself. Were you told at any stage that you had to have PPI? Were you told you could only have the loan, or have an improved chance of being approved for credit, if you took out the PPI? Were you unemployed, retired or in full time education when you were sold the policy? Answering yes to any of these questions means there is a strong possibility that you could make a ppi claim.
PPI refund claims are not as complicated as you may first think and besides, the PPI claim company will take care of the whole process for you. We work on a No Win No Fee (*see our terms of engagement on our website) basis and have a vast amount of experience dealing with these types of cases. It is also important to remember that there is no limit to the number of PPI claims you can make.
Another important factor to consider is the broad spectrum of purposes for which PPI could apply. For example, you could have been sold PPI on your loan, credit cards, mortgage, store cards or a higher purchase agreement for a car. The list really is endless so it is probably a prudent idea to check back through all your recent major purchases and outgoings to see if a claim is possible.
PPI is a contentious subject in the current climate for a number of reasons. As already stated, this very specific type of insurance is a good idea for people who find themselves in challenging circumstances when carrying out repayments.
There are a number of positive examples where PPI has served a very important purpose for such people. However, the key point is that there are also an increasing amount of examples where a PPI policy was sold recklessly and unnecessarily. For people who are applying for mortgages and credit cards for the first time, the whole experience can be daunting and confusing. They are essentially putting their faith in the hands of the salesperson they are dealing with, therefore assuming they are receiving valuable advice at every stage. It has become increasingly clear though that as the amount of cases where PPI has been mis-sold have stacked up, the techniques employed by some sales people may be called into question.
Reports have emerged of people being misled into believing they had an improved chance of being given credit if they took out insurance. Such tactics are a perfect example why the issue began to spiral out of control and why so many policies were sold without sufficient reason.
Banks have also been accused of having mis sold payment protection policies to candidates whose circumstances meant they were unsuitable. The nature of PPI means that it exists as a back up plan should your individual circumstances change and you require financial assistance. To sell a policy to somebody who is unlikely to require it due to being retired or unemployed is baffling.
The issue of PPI refunds can appear complex and time consuming when you consider everything involved, but that is where the PPI Claim Company can help. Even if you suspect that you have been mis-sold payment protection insurance but are unsure of the process, contacting their claim team can help give you a clear idea of what to do and how to approach the issue of PPI refunds.
The recent message coming from the banks is that they would prefer anypayment protection claim to be made through them. Would you rather put your faith in the company that may have mis-sold the policy in the first place, or an independent company who specialise in the issue? The choice is yours.
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