Personal Protection Insurance (PPI) is the insurance that many loan companies and banks offer with their loan products. This insurance covers various unexpected events such as sickness, injury at work, and redundancy and means that your loan payments are covered for a set period of time. If any of these events were to happen, the insurance company would make the loan repayments on your behalf until such a time that you could make the repayments yourself or for a set duration of time.
Unfortunately, many customers have been mis-sold this insurance and many policies have worked out to be very poor value for money. Many customers have been left out of pocket or worst still have been left with huge bills that they can't pay often resulting in defaults and CCJs. Most PPI policies will only pay out for a set period of time after which you must find an alternative means of paying the loan payments. If this has happened to you, PPI reclaims could be the answer.
Many problems have arisen with PPI policies and many customers have come unstuck as a result. In fact, there are many companies that have applied PPI to their loans without the customer knowing. If this has happened to you there are some things you can do. It may be possible to get your money back if you have been mis-sold a PPI policy.
Here are just seven reasons why you should make a PPI reclaim:
* Your loan company may have taken your money unfairly by miss-selling a PPI policy to you or adding it to your loan without your knowledge.
* The average PPI claim in the UK is £2000
* PPI reclaims are fully backed by the Financial Services Authority (FSA), Financial Ombudsman, and the Financial Compensation Scheme. They actually encourage customers to claim and have taken £148 million from PPI companies so that PPI reclaims can be honoured.
* Your entire debt could be written off. This is entirely possible and in September 2009 a judge ruled that a customer have her entire debt waived due to a PPI policy being mis-sold when she took out a credit card.
* You can make a claim even if you have paid the loan off.
* You can still even claim if you have used the PPI policy
* Making PPI reclaims is a simple and quick process. The process costs nothing and you could claim back as much as £2000
If you believe you have been mis-sold PPI and want to find out more about PPI reclaims and the money that you could get back, there are many companies that can assist with the process and give you guidance in the PPI reclaims procedure. Don't let the insurance companies get away with your money.
Unfortunately, many customers have been mis-sold this insurance and many policies have worked out to be very poor value for money. Many customers have been left out of pocket or worst still have been left with huge bills that they can't pay often resulting in defaults and CCJs. Most PPI policies will only pay out for a set period of time after which you must find an alternative means of paying the loan payments. If this has happened to you, PPI reclaims could be the answer.
Many problems have arisen with PPI policies and many customers have come unstuck as a result. In fact, there are many companies that have applied PPI to their loans without the customer knowing. If this has happened to you there are some things you can do. It may be possible to get your money back if you have been mis-sold a PPI policy.
Here are just seven reasons why you should make a PPI reclaim:
* Your loan company may have taken your money unfairly by miss-selling a PPI policy to you or adding it to your loan without your knowledge.
* The average PPI claim in the UK is £2000
* PPI reclaims are fully backed by the Financial Services Authority (FSA), Financial Ombudsman, and the Financial Compensation Scheme. They actually encourage customers to claim and have taken £148 million from PPI companies so that PPI reclaims can be honoured.
* Your entire debt could be written off. This is entirely possible and in September 2009 a judge ruled that a customer have her entire debt waived due to a PPI policy being mis-sold when she took out a credit card.
* You can make a claim even if you have paid the loan off.
* You can still even claim if you have used the PPI policy
* Making PPI reclaims is a simple and quick process. The process costs nothing and you could claim back as much as £2000
If you believe you have been mis-sold PPI and want to find out more about PPI reclaims and the money that you could get back, there are many companies that can assist with the process and give you guidance in the PPI reclaims procedure. Don't let the insurance companies get away with your money.
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