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Everywhere you look you read stories of people making PPI claims; why, and what is it all about, you may ask?
Let’s outline the situation, with a little background on what PPI is and why the market has undergone such a radical rethink in recent years. To begin with, PPI stands for payment protection insurance. This is a group of insurance policies that are designed to help people keep up payments on essential things – a loan, mortgage, even the bills – in the event that they meet given circumstances.
These circumstances can include loss of work though injury or accident, sometimes redundancy, and other specified instances. In general, the more you pay for a PPI policy, the greater the scope of cover. Sound simple so far, but there is a problem; a few years ago the relevant bodies acted upon several complaints from members of the public who believed they had been mis-sold PPI policies. The good news is; it’s easy to make a claim and potentially get all of your hard–earned cash back. All you have to do is call one of our experts now on 0800 840 7292 and we’ll get started fighting for your PPI payments refund.
Alleged problems included being sold policies that were worthless – some people already redundant had been sold PPI when it is of no use to them – and not being told they were paying for such policies only to find later that the cost was built into the monthly repayment. Further accusations included being unfairly coerced into buying an expensive package deal from the lender on the grounds that the loan would not be granted otherwise.
The complaints were escalated to the notice of the Financial Services Authority, who carried out a major investigation; they found many of the claims were upheld, and the discovery of mis-selling of PPI policies across the board led to heavy fines being given to many of the perpetrators – some of them well known high street brands – and a major revision of the rules and regulations in the industry.
The upshot was a sudden influx of PPI claims, with consumers realising they had been buying something that was unfairly sold to them. You may have a right to pursue PPI claims if you can state the following:
- You were sold a policy that was of no use to you;
- You were not adequately briefed on the terms of the policy;
-You were not told of a policy bundled in with your loan;
- You were not given the option to shop around.
However, as with all things that are complex and difficult for the layman to understand it is worth getting in touch with the experts. Fortunately there is a wealth of information available on the internet dealing with PPI, and also a great number of legal experts willing to help you with your case, so we would advise that – should you be ready to investigate making PPI claims for your own sake – you start by getting hold of all the information you can find. To find out if you have a claim or to get one started give one of our experts a call today on FreePhone 0800 840 7292 or if you prefer, fill out the form above and we’ll call you straight back.