Mis Sold PPI – What is PPI? An Online Guide
For those who are currently struggling with their mortgage payments due in part to the additional Payment Protection Insurance that has been tacked on, you might have been mis sold PPI and therefore due for a refund. The scandal that was recently in the papers about how certain banks and lending institutions mis sold PPI to thousands and thousands of UK citizens may have affected you as well, even if you were not aware that you have been mis sold PPI.
Payment Protection Insurance (PPI) was designed to help people who might have unforeseen circumstances such as illness or becoming unemployed hamper their ability to make mortgage and other types of loan payments, including store and credit cards. Unfortunately, many banks and lending institutions took advantage of their customers and mis sold PPI to them when it was not needed, they overcharged for the PPI payments, did not fully explain all the options of PPI or simply tacked it on without the knowledge of their customers.
The UK courts and government has now stepped in to help refund customers their money that was overpaid or wasted on PPI payments. Already, thousands of people have successfully reclaimed their money, but many thousands more have not either because they are unaware that they were mis sold PPI or they feel that they do not qualify.
Today, you can reclaim PPI payments that you have made if you were mis sold PPI in the first place. The process starts when you look over your loan application and monthly bill to see if you have PPI in the first place. Whether you are currently paying on a loan or have successfully paid it off in the last six years, go ahead and check your records. If so, the next step is to take it to the professionals that can see if you do qualify to reclaim PPI form the government.
The professionals that handle reclaim PPI efforts do not charge any money for their services, only when you receive your refund do they get paid. This means that you are not at risk for any payment until you get your money refunded. If the professionals or the government determine that your PPI was legitimate and does not qualify for a refund, then you are not out any money whatsoever. Finding out is a risk-free proposition on your part.
However, if you are one of the thousands who can reclaim PPI payments then the process itself does take roughly 8 to 14 weeks depending on your case. Filing the proper paperwork and handling all the details requires the knowledge and experience of professionals who have been working with thousands of clients for years in reclaim PPI cases. This means you are in good hands and will have your reclaim PPI paperwork done correctly, after all you don’t want to be bothered with refilling and delays when you were mis sold PPI in the first place.
When you get your PPI refund, a small percentage goes to the professionals who did the work properly for you. This is how they get paid for a job well done.
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