When payment protection insurance is first described it can seem like the perfect solution to solve all our financial issues. It is a service many banks, lenders and insurance companies are offering to help repay all our loans and depts. We are told that if we lose our job, become seriously ill or involved in an accident, all our loan repayments will be covered if we take out PPI. This might at first seem too good to be true. However, in many cases people are often mis-sold this expensive service when they don’t necessarily need it.
Many policies have significant exemptions making it extremely difficult for holders to ever make a claim. In 2011 there was an influx in many banks and lenders mis-selling PPI. They would do this by either telling consumers that the insurance was compulsory or selling the insurance to consumers without fully explaining what they were covered for. In some of the worst cases, the bank or lender would even add the insurance to the customer’s loan without their consent. The good news is that if you feel you were mis-sold PPI and have a valid claim, it is likely that you are eligible for PPI compensation and will also be able to claim back the interest you were charged.
The amount you can claim in compensation will depend on your policy. However, if you were in anyway mis-sold this service, it is almost certain that you will be able to claim back all premiums, interest and in some cases any outstanding payments will also be stopped.
Making a claim can be a long and difficult process, adding stress that you most certainly don’t need after all the agro you’ve already been through. There are many claims management companies who can help you to make and claim and ensure you receive every penny you are owed.Whatever your situation, a professional team of claims management experts will make sure you get back everything you are rightfully owed as quickly as possible.
Even if you have already paid off your loans or you pay your PPI premiums monthly, you are still eligible to make a claim, and with your claims management company all the confusing paperwork and forms will be dealt with for you, allowing you to sit back and wait for your cheque.
Enlist the help of the claims experts for 100% PPI compensation.
ABC Incorporation is a leading UK claims management company. Their expert and experienced team are continuing to help hundreds of people claim back thousands of pounds. Visit their website today for more information or to enquire.
Payment protection insurance advice
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