Claiming PPI Back
Claiming PPI Back – Three Ways to Tell You are Eligible
Mis sold payment protection insurance is a big topic of discussion right now because several well-known lenders have mis sold PPI. The reality of the situation has been uncovered as investigations have revealed the truth behind the coercion and hiding of fees associated with PPI in the UK. As a result, more than three million UK residents have made the realisation of claiming PPI back. If you have been a victim of mis sold payment protection insurance, you can do so as well. There are a few ways to tell if you are eligible.
First, if you are being charged more than you think you should be, you should look into claiming PPI back even if you are not sure if you are paying PPI. Sometimes, lenders combine the PPI premium with the regular payment requirements of your loan so it does not stand out, even with a close examination of your statement. This can be slipped into the deal in cases like applying for a loan online and later securing an interest rate over the phone. Between these times, the addition of PPI may have been made, resulting in a case of mis sold payment protection insurance.
Then, you could be a victim if you were coerced into buying the insurance even though you were not told much about it. Perhaps the lender suggested that your chances for loan approval would increase if you obtained PPI. This is simply a false assertion and could lead to your ability of claiming PPI back. A lender may do exactly this without even finding out about specific information required to determine your eligibility to make a claim on your policy. You could be paying mis sold payment protection insurance premiums that you could never use!
A final way to assess whether you are a victim of mis sold payment protection insurance is if the lender told you it was mandatory for taking out the loan. In no situation and with no lender is this true. If you were told you had to buy the policy, you could certainly be eligible for claiming PPI back. A full compensation in is store for borrowers who have been subject to these kinds of falsehoods, and the process is not difficult or costly. Get in touch today to see what can be done for your situation.