Claim PPI! Those words are all the rage in the UK at the minute due to the banks and insurance company's unsavoury behaviour relating to the selling of payment protection insurance (PPI).
Before the credit crunch struck getting a loan, mortgage or credit card was as easy as falling off a log. At the same time, banks and insurers looked to expand their profit margins. In the last six years, they relied heavily on selling payment protection insurance policies. But Government investigations have exposed the frightening truth about these policies. In almost 66% of cases it was found that the PPI was mis-sold. A number of high profile banks and loan companies have faced huge fines due to mis-sold PPI. With the floodgates now open, a great many people want a PPI refund.
So what do me mean when we say these policies have been mis-sold? These policies are arranged to cover loan payments during illness or unemployment of the borrower. However the policy's exact terms were not always clarified and a central selling point of these policies by the loan companies was either the PPI was obligatory (ie no PPI, no loan) or the PPI payments was bundled into the loan payments so you did not even know that you had the cover. This was seriously misleading.
Cold and calculated sales targets formed the overriding concern of the banks; the person on the street came a poor second. The good news is that depending on the size of your PPI cover thousands of pounds could now form the bulk of your PPI claim.
The bad news is that even if you have a cast iron case, your loan company is unlikely to surrender without a fight. They rely heavily on legal terminology in order to undermine your efforts. But you don't have to be alone to claim PPI. Get top specialists at no cost to you to do all the hard work and just relax and see the money come in.
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