If you have been mis-sold on a loan you have taken out some time over the last six years or more, you can make a claim. A large number of loan customers were oblivious that insurance was included and insurance which was not likely to cover them anyway.
There are valid arguments which could be put forward for a PPI as it does offer a certain amount of cover, for instance, in the event of an extended illness or job loss. Problems can occur, however, if the kind of policy is unlikely to benefit the customer or the sales tactics being applied are less than honest.
A number of people have no idea that they have bought PPI and that they are paying for it each month as part of their repayment. They asked the lender for the loan and were told they could apply on the basis that they also have to buy PPI. Unless you were a genius at maths, you may be under the impression that the monthly repayment, when initially told, sounds fair, considering the loan period. However, not all of this figure goes into paying your loan if you are also paying for PPI and that is where being mis-sold comes in to play. If this is the case, making a claim for PPI should be straightforward.
Numerous policies have many restrictions attached to them and are therefore worthless to the average customer. If their job status was unemployed at the time of taking out the loan, the PPI holds no value. In the event of a failed business for the self-employed, they would also unlikely to be covered and would fail to be eligible for unemployment cover. A customer with medial problem, don't generally have a basis to make a claim for previous conditions.
You could claim with the lender directly but the problem lies in that many of them will refuse to handle the claim and attempt to wash it under the carpet. Another option would be to speak with a professional company who can take on your case and claim on your behalf. An advantage is that they know how to and are used to dealing with lenders on this very issue.
There are valid arguments which could be put forward for a PPI as it does offer a certain amount of cover, for instance, in the event of an extended illness or job loss. Problems can occur, however, if the kind of policy is unlikely to benefit the customer or the sales tactics being applied are less than honest.
A number of people have no idea that they have bought PPI and that they are paying for it each month as part of their repayment. They asked the lender for the loan and were told they could apply on the basis that they also have to buy PPI. Unless you were a genius at maths, you may be under the impression that the monthly repayment, when initially told, sounds fair, considering the loan period. However, not all of this figure goes into paying your loan if you are also paying for PPI and that is where being mis-sold comes in to play. If this is the case, making a claim for PPI should be straightforward.
Numerous policies have many restrictions attached to them and are therefore worthless to the average customer. If their job status was unemployed at the time of taking out the loan, the PPI holds no value. In the event of a failed business for the self-employed, they would also unlikely to be covered and would fail to be eligible for unemployment cover. A customer with medial problem, don't generally have a basis to make a claim for previous conditions.
You could claim with the lender directly but the problem lies in that many of them will refuse to handle the claim and attempt to wash it under the carpet. Another option would be to speak with a professional company who can take on your case and claim on your behalf. An advantage is that they know how to and are used to dealing with lenders on this very issue.
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