When to Make a Payment Protection Insurance Claim
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If you have been mis-sold your PPI it is possible to make a payment protection insurance claim. These are very useful if you wish to ask for your money back if you have been treated unfairly by the bank or the lender. There are solicitors who can help you with this which will make the whole process a lot easier when compared with taking on the lenders yourself.
How Can You Tell if You Were Wrongly Sold PPI
There are ways to find out if you would be able to go ahead and make a payment protection insurance claim. Firstly it helps to know the circumstances which are most commonly experienced by people in the UK. Some of the common ways that individuals were forced to make payments unfairly include:
* If you were lead to believe that the PPI was mandatory.
* Your lender did not tell you about all the costs and that you would actually be borrowing more money in order to pay for the insurance.
* Your medical conditions were not looked at and you are actually exempt from paying because of them.
* You were not told about the protection insurance at all.
* The insurance is not enough to cover the entire loan and does not last for the time period that you will be paying back the money.
* Your employment is not covered or included in the insurance.
If you think that any of the above relate to your experiences then you have a good chance of being able to make a payment protection insurance claim against your lender.
Mis-Sold Insurance is More Common than You May Think
Over the last decade many lenders, including well-known banks have been found guilty of mis- selling. In these circumstances they are ordered to return the money they took back to the individuals. Some people were not informed about the costs involved and many were not even told about it in the first place. If you are not sure whether you have paid PPI it is worth taking a look over your old statements and seeing if any payments have been made in the past. You should find that PPI is stated in the detail or description column. |
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Author Resource:-
The payment protection insurance claim process can be carried out on a no win, no fee basis. Look for payment protection insurance claim solicitors online.
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By :
Gareth Hoyle
Submitted
2011-11-16 08:08:06 |
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