Just to clarify Payment Protection Insurance is not a bad product, in fact it is very useful if sold properly. Payment protection insurance is there to cover payments for a year in the event of accident, sickness or unemployment.
However with the recession firmly taking its tole on the economy unemployment has risen to over 1.89 million people the highest in over a decade. This is where insurance policies such as payment protection insurance should essentially help those in need of keeping up payments on car finance, credit cards, loans, mortgages and store cards.
Payment protection insurance should pay a years worth of payments on these items but it is the mis-selling of PPI policies that is causing such an uproar for its customers and leaving people with no option to pay for such items when in fact their PPI policies should cover them, after all what is the point in paying for PPI if it never essentially covers you, this is why banks have mis sold PPI so widely in the last 10 years.
With targets set by banks and various organisations to sell PPI to its customers mis-selling has been rife within the industry. Meaning that customers are not getting the cover they are paying for, meaning that banks have mis sold ppi to consumers on a mass scale and you could be one of those who was mis sold PPI alongside your credit agreement.
Mis sold PPI can often be added to the overall Interest of the debt and mean that you owe a considerable amount more to your lender, for a policy you did not want or need and could never have claimed on.
Some of the banks to have been fined millions for mis-selling PPI policies are: Natwest, RBS, HBOS, Lloyds TSB, Halifax, Bradford & Bingley, Barclays, Alliance & Leceister and Abbey, along with many other companies.
WHAT TO DO IF YOU THINK YOU HAVE BEEN MIS SOLD PPI?
Give Reclaims UK a call today to see if you have been mis sold PPI and if you are entitled to £1000′s in repayments and compensation. Many of our clients do not know they have been mis sold PPI and therefore never question their policies. Claiming on your mis sold PPI policy does not affect your credit rating at all and will not affect any further credit agreements you may want with your creditor.
Mis sold PPI Process?
To start your claim all we need is an Account number for the loan in question that you think you may have been mis sold PPI alongside of. If you have a copy of the original agreement that shows the Mis sold PPI added to the agreement this is a bonus and means we can work out precisely what you are owed and entitled to.
How Do I Know I Have Been Mis sold PPI?
If you remember paying PPI then this is a start however often Reclaims UK will have to look through your credit agreement and investigate further to see if you have been Mis sold PPI. Often your original credit agreement if you have paid PPI and therefore if you were Mis sold PPI. We can then work out exactly what you are owed and progress from there.
Why have I been Mis sold PPI?
- If you remember being informed that PPI was compulsory then you have been Mis sold PPI.
- If you were told that without PPI you would not gain the credit agreement you have been Mis sold PPI.
- If the repayments were not fully explained you have been Mis sold PPI.
- If you were not asked any previous medical conditions and you had any you have been Mis sold PPI.
-If PPI was added to your agreement without you knowing then you have been Mis sold PPI.
The above are just some of the reasons how you could have been Mis sold PPI and you could be entitled to £1000′s in repayments and compensation.
If you are with any of the following banks or have PPI and feel you may have been Mis-Sold then please fill in the form on the left of the page and a Claims Advisor will call you back within the hour to get your claim process started.