Payment Protection Insurance (PPI) Issues
Payment Protection Insurance (PPI) covers a number of policies widely sold by banks & credit providers as an add-on to the loan but created issues by mis-selling
PPI policies have been around for many years. Recently it was discovered by Financial Services Authority (FSA) that regulates all financial services in the UK that mis-selling of PPI was widespread, and in many forms.
Many people found they were paying into a policy but were not aware of it. The lender did inform the need for PPI and made it appear they were obliged to take out a policy with them. The consumer in fact had the right to shop around for a cheaper deal, yet this was not informed and clarified. People have been paying unnecessarily for PPI policies for several years.
The media started highlighting Mis-selling of PPI and the consumers started claiming back unfair fees.
Understanding Payment Protection Insurance could help you to claim compensation. You may a right to claim compensation for unfair PPI fees.
1. Have you in the past few years taken out:
A. Loan
B. Mortgage
C. Credit Card
D. Credit Agreement
Please read your documents thoroughly to check if you have been paying into PPI policy.
2. If you have the PPI policy ask yourself:
A. Are you aware you have the PPI policy and having been paying into the policy?
B. Were you adequately informed?
C. Were you explained that you could shop around for the policy?
There are many firms and specialist solicitors who now offer their services to claim compensations.
Always look for a firm that offers a ‘no win no fee’ deal in which you pay a fee only if you are successful with your claim.
Many people found they were paying into a policy but were not aware of it. The lender did inform the need for PPI and made it appear they were obliged to take out a policy with them. The consumer in fact had the right to shop around for a cheaper deal, yet this was not informed and clarified. People have been paying unnecessarily for PPI policies for several years.
The media started highlighting Mis-selling of PPI and the consumers started claiming back unfair fees.
Understanding Payment Protection Insurance could help you to claim compensation. You may a right to claim compensation for unfair PPI fees.
1. Have you in the past few years taken out:
A. Loan
B. Mortgage
C. Credit Card
D. Credit Agreement
Please read your documents thoroughly to check if you have been paying into PPI policy.
2. If you have the PPI policy ask yourself:
A. Are you aware you have the PPI policy and having been paying into the policy?
B. Were you adequately informed?
C. Were you explained that you could shop around for the policy?
There are many firms and specialist solicitors who now offer their services to claim compensations.
Always look for a firm that offers a ‘no win no fee’ deal in which you pay a fee only if you are successful with your claim.
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