In the uk, there are many cases of ppi mis-selling. People were incorrectly advised by the sales representatives of insurance companies or lending companies where they acquired their loan. They were not informed about the total cost of the policy that they need to pay, the added charges, interest rates and exclusions of the cover or were told that the policy was compulsory. The customers can actually make ppi claims when they proved that they were not really told about the important facts of the loan insurance they purchased.
Many clients took out loan protection insurance however were not certain that they’re eligible for ppi claims so if you have got out a loan, you may be owed thousands of pounds of ppi compensation. You must keep in mind that there are time limits for making ppi claims and that is exactly why it is crucial to get in touch with expert that can assist you to claim your compensation.
A ppi plan can be beneficial and will assist people against financial hardships in times of joblessness or being sick. However, there were people who had financial hardships as a result of these policies being mis-sold. The Financial Services Authority executed an investigation about the mis-sold payment protection insurance cases and they considered that thousands of people in the united kingdom might have been mis-sold a ppi. They do feel that ppi claims could result in thousands of pounds of compensation. If you have a loan and took out this loan insurance, you could be able to file ppi claims case.
If the payment protection insurance policy has been mis-sold to you, then you can generate ppi claims to get back the actual proportion of the monthly loan repayments or credit card payments that you’ve compensated, including the interest of your money. Remember that there are a lot of reasons why ppi may have been mis-sold. The main reasons behind making ppi claims are if you were not working full time, retired, unemployed, self employed and with pre existing medical condition when you got the insurance policy.
Andy Clarkwrites aboutMis-sold-ppi and other financial products for United Kingdom based company www.PPI refundsUK.co.uk. He also lifts the lid on unfair loan charges and the financial claims niche generally, in addition to writing articles on personal finance, house sales, repossession and business finance