Mis sold PPI 06/21/2010
 
You might not know what PPI is although there is a good chance that you have it.

There is an estimated 20 million PPI (Payment Protection Insurance Policies) which have been sold to customers in the UK. There is also a good chance that you have been mis-sold ppi and could claim your money back.

PPI or Payment Protection Insurance is sold with Credit Cards, Loans or any other financial products such has car finance & store cards. It is meant to cover the repayments if you cant make them due to an illness or accident.

The main problem with PPI is when it is purchased from a Bank or Lender attached to loans, car finance etc. it is bad value for money. PPI is often sold to people who can never claim on it such as being self employed, students, unemployed & retired people. Many people have reported being forced to take PPI out by the Banks & Lenders saying they couldnt have the loan or finance without taking the PPI. 

PPI is and has always been an optional extra but the Lenders have over the last decade made millions of pounds from selling PPI attached to financial products and therefore it is easy to see how it has been mis sold. Many banks & lenders sales assistants have been on commission to sell PPI to customers another reason why it could often be mis sold. 

The FSA regulated the selling of Payment Protection Insurance in January 2005 and have fined many Lenders for mis sold PPI.

If you think you may have a mis sold PPI, you should contact a claims company such as Reclaim Services, this service is provided on a
no win no fee basis which means if the claim is unsuccessful you will not be charged a penny. You have nothing to lose.
You can make a claim for a mis sold ppi by filling out the online
PPI Claim form or alternatively contact FREEPHONE 0800 840 4034.


 
 
Add Comment