PPI Companies – How to Avoid being Scammed
You spend money on all kinds of things. Everything from monthly rent or your mortgage to magazine subscriptions and car insurance make for regular monthly or yearly expenditures. Still, when you sign up for any kind of loan, subscription, or insurance, you want to find the best deal for your money. What if you found out your mortgage, credit card or other kind of loan had a fee attached to it that you had no idea about?
Some lenders have been known to tack on Payment Protection Insurance without notifying their customers or explaining how it works or who is eligible to use it!
Some cases are completely legitimate, so you should not fear taking out a loan, but if you feel over-pressured by the sales person, do not be afraid to hang up and get in touch with another lender. Pressure selling or insisting that PPI is critical for taking out the loan will indicate that you have run into a bad situation. Never will PPI be required to take out a loan and it will not increase your chances of being approved, either.
Next, there are certain requirements for who is eligible for PPI. If you are over the age of 65, have a pre-existing medical condition, are self-employed, unemployed, retired, or employed with full sick pay availability, tell the lender who is trying to coerce you into signing up for PPI that you know you are not eligible to make a claim even if you wanted to. You will stop the salesman in his tracks because normally people are not this educated about PPI and their methods of sneaking this kind of insurance into the payments of your loan.
Many people have become victims of Lenders who mis sell this insurance product to unknowing customers. If you have become subject to this kind of mis selling, you can get your money back by making a claim to the lender or using the services of Fast Track Reclaim who will work on your behalf to retreive the monies which you are due. In many cases we do not require the account numbers and simply need the name of your lender to get started. If you think you may have paid PPI then get it touch today.
Remember, even if you don’t have the account details we may still be able to help you.