PPI Complaints for Recovering Your Money

Posted on May 11, 2012 by admin

Worried about losing your job and not being able to pay for your obligations? This can really be scary especially if your still have existing loans to pay along with your monthly bills and expenses. It is not uncommon for people to lose their jobs at some point in their lives, particularly these past few years with the threats of global recession still just around the corner. But what can you do if it happens? The simplest solution would be to have payment protection insurance or PPI.

What is it all about?

Basically, PPI is a type of insurance that insures your finances in case you suddenly lose your job due factors like physical disability, illnesses, or retrenchment. It is usually offered as an optional insurance whenever you make a loan, subscribe to credit cards, or avail of mortgage. For instance, you applied for a credit card and you happen to have existing unpaid items in that credit card. If you have payment protection insurance and if your case is covered in the terms and conditions of the policy, then the insurance can continue paying for your credit card bills for as long as what is indicated in the contract.

Normally, these kinds of insurance policies are offered by loaning companies themselves as they want to make sure that they are continually paid even if unemployment occurs to their clients. However, there are also independent insurance companies that sell these kinds of insurance as well.

Is PPI helpful?

This kind of insurance can really be helpful only if you have a full understanding of it. If you are thinking of subscribing in this kind of insurance, better ask yourself if it will be useful for you as there have been many payment protection complaints that have been made by many subscribers. Most of them find fault in the contract itself as it has too many limits and exclusions as well as loopholes that are printed on the fine print. As a result, policy holders end up not claiming for the policy as their cases are not covered. Apart from that, a lot of the complainants also claim that the numerous limits and exclusions were not made clear with them before they were asked to sign the insurance policy. For cases like these, policy holders can choose to ask of insurance refunds with the help of companies like the PPI Reclaim Company. More information on their services can be viewed on their website: www.ppireclaimcompany.co.uk.

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Understanding the PPI Claims Process

Posted on April 10, 2012 by admin

Knowing the conditions stipulated in the contract is one of the ways for you to ensure that you can have PPI claims. The inability of most people to file a came roots from their lack of knowledge on what their insurance includes, and this results to numerous problems once they try to acquire the payment protection insurance. Lenders during the period of sale did not properly inform the customer of what their insurance provides. Most of them did not even mention that it was already being added with the mortgage and that they are paying for it monthly. The bad practice on PPI claims have been going on for years, and numerous customers have been victimized. The only way they can fight against this is to correct the issue and file a claim.

The process of acquiring the PPI claims is one of the issues people have been having due to having a mis sold one. They are unable to enjoy the benefits of the insurance for the company upon their PPI claim rejects their reason. This has been the typical scenario in the claim process, and most people have been regularly experiencing it. The method of selling the PPI is one of the reasons why this occurred. Often, the customer does not have an idea that the said insurance is being added to their account so they continuously pay for it, and they only learn that it is not valid once they try to file a claim. This makes paying the insurance useless, since you cannot do anything to reclaim PPI.

Customers without money are the ones who greatly suffer from this. There are chances that they also have mis sold mortgage together with this PPI.  They are already unable to make payments for the mortgage that was not applied correctly, and they cannot make PPI claims. In the event that they lose the means of paying up their loan, they would not be able to use their PPI. This will lead to them having missed payments, which results to more penalties.  The only way for them to correct the issue is to have someone assist them in reviewing their contract to see why this has happened. Skilled solicitors are the best one to include in the job for they have sufficient information on how the claim can be made, what process needs to be followed, and an advice on whether it is worth to push through.

 

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Were You Missold PPI?

Posted on June 23, 2011 by admin

Was the advice given to you misleading when you were purchasing payment protection insurance when applying for a loan? If so then it is very possible that the loan could of been mis sold and wrong information was given to you so in that case it would have to be forced to pay back all the money it took of you when you were paying forPayment Protection Insurance you didn’t know you had.

We can get your loan written during the application process if you are clear in your recollection that words to the following effect that were said in the process.

• You were told that you would not get the loan unless the Payment Protection Insurance was taken at the same time.

• That the Payment Protection Insurance was a mandatory part of the loan.

• That taking the Payment Protection Insurance will result in a favourable outcome in the loan application.

• That taking the Payment Protection Insurance will result in a better chance of you getting the loan.
If any of the above apply – please contact us and we will, for free, make an assessment as to whether you circumstance match the criteria for making a claim.

If any of these above apply to you then don’t hesitate to contact us and we will see if you match our criteria for making a claim. If you are then we will be here helping you Claim Back PPI for what you deserve.

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Difference Between ASU and PPI?

Posted on June 23, 2011 by admin

Accident sickness and unemployment protection

Accident sickness and unemployment protection is commonly known as ASU, these are policies which are sold along side mortgages or bigger loans, and this will cover your repayment if you become unable to work through sickness or unemployment. On the other hand loopholes often mean the taxed free monthly payments can fail to materialise when the worst happens.

For an example, the small print usually excludes pre-existing and recurring medical conditions, but on the other hand stress and back problems are the two most common reasons why people are not able to work and are not covered.

So if you are sold a policy that excludes conditions you already have, this could be classed as mis-sold PPI. What’s more, if you’re self-employed, you will probably have to cease trading altogether in order to make a claim.

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