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Extremely careful about PPI Claim

In today’s materialistic world, It is a tough job of balancing our daily expenses against the increasing prices of necessary goods. People do not like to take loans but it’s one of the easiest ways to meet our requirements. Also the loans are available for every conceivable requirement.

Getting a loan has also become simpler while its repayment is still one of the hardest. Payment protection insurance(PPI) is one of the safest solutions for this problem. With PPI, the borrower needs to pay a certain fixed amount each month as installment. And if due to some contingency the borrower is not able to pay the installment, PPI claim covers the payment for a predefined fixed period which is usually of 12 months.

The PPI claims mainly help when the borrower is unable to pay due to unforeseen loss of job, or critical illness or accident. The period is considered to be long enough for borrower to get a new job or get occupied in some other way of producing an income. Loans are covered even without any collateral.

However one must be extremely careful while purchasing a PPI as many claims have been rejected because of policy exclusions and clauses. Thus it is important to go through the exclusions and clauses before purchasing a PPI policy. Mis-selling of PPI policy is also quite prevalent. A policy is considered mis-sold in the event the borrower was not informed about any or all exclusions like any pre existing disease not covered under policy.

PPI cover is optional. The Loan Adviser should also inform the borrower that the PPI cover expires much before the complete payment of loan. There is a time limit of 6 years for making a PPI claim. However if the documentation has been kept for any policy taken before 6 years, a claim can be made. The consumer can claim on a multiple loan basis where PPI was included.

The consumer can directly apply for the claim or appoint a representative to make the claim for them. There are many professional companies with trained lawyers to deal with such matters. All the matters regarding financial services are regulated by the government watchdog The FSA and the banking Ombudsman. The consumer can also refer directly to the ombudsman for assistance with claims.

PPI claim services are taken from the various forms of Payment protection insurances. UK PPI claims can help you smoothen out your unpaid bills today given the case we’re you’re helpless.

How to claim PPI compensation - from Which? Do you have Payment Protection Insurance (PPI)? Thousands of people have been mis-sold this financial product and Which? is here to tell you how you can get your money back – for free
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Mis Sold PPI ? Just What It Is And What Can Everyone Undertake If You Have Been Mis Sold PPI?

Payment Protection Insurance, otherwise known as PPI, continues to be a very marked by controversy subject for several years now. The mis selling of PPI by various finance institutions, as well as most of the leading banks and building societies in the UK, has led to the most significant financial trading scams for a long time. You may have listened to on the news or browsed in the papers over the latest High Court Judicial Review with regards to mis sold PPI, wherein the banks were trying to get away from using the policies stipulated by the Financial Services Authority (‘the FSA’) which in fact had ordered the accountable financial institutions to pro-actively review their customer data and call all customers who may have actually been mis sold PPI, even if that buyer hadn’t as yet enlisted a PPI claim.

They certainly lost the challenge and the fact that they took the gall to form such a struggle has placed an additional dark cloud over the reliability of the UK financial services sector. They merely want to draw out their obligation to alter the harm they’ve obviously attributable to the mis sale of PPI over many years and to an incredible number of customers. The particular bill that the banks are sure to have to deal with is anticipated to total many billions of pounds. Hence, what specifically is PPI and how is mis sold PPI identified? And more to the point, how do you render mis sold PPI claims if you believe you believe this has happened to you?

Payment Protection Insurance (PPI) was purportedly made to protect people who had obtained loans (or any form of credit) and were unable to continue to make the payments because of accident, injury, ailment or involuntary lack of employment. Over the face of it, PPI seems like an extremely sensible insurance to be offered to credit clients. Nevertheless it might be scandalously mis sold by nearly all significant lending institutions for years contributing to this remarkable scandal which the banks now have to deal with to pay back the damage generated to their many naive victims.

There are several ways that PPI was considered to have been mis sold. A lot of lenders brought the notion that it was obligatory, a portion of the loan, and really didn’t provide the client the opportunity to decide whether they wanted it or not. In some cases, a PPI policy might have been distributed which does not cover the total term of the loan, making it really ineffective to the consumer. Other customers might have plainly had PPI added to their loan without even understanding it, hence they did not even understand at the time of taking out the particular loan that PPI was loaded after all.

Plenty of men and women have been affected by this awful financial selling scandal, but if you suspect you or anybody close to you could have been affected and been a victim of this mis selling at any time then you should act now to help you receive the compensation you are entitled to. When you have applied for a loan or credit of any sort during the last 10 years it really is worth verifying through your documents. You cannot be aware that you had PPI – and if you did not then you definitely hold the basis of a claim simply for that reason.

There are various alternatives you’ve if you feel you could have the basis of a legitimate PPI claim. Nevertheless, the most important thing you have to do is ‘take action’, and do it quickly. There may simply be a specific window of time available to render PPI claims, and you’ll be anticipated to set your claim forward during this time window.

You could attempt and take care of the claim by yourself and in that respect there are generally established letters and suggestions you can find online to accomplish just this. But, after everything they have done, can you really trust the banks (or ‘lender’) to tell you the actual basic facts? Whenever they come back to you and deny that you’ve got a valid claim, do you trust that this is 100% true? What if they admit they did mis sell PPI and make you an offer of compensation? How can you tell the offer is definitely the highest sum you gain the right to claim? What happens if the case is introduced to the financial Ombudsman, does one realize how to cope with the situation in such cases?

The end result is that although you could process your own personal PPI claim, you take a risk. The sensible choice is putting the issue to experts. There are several skilled PPI Claims companies functioning all over the UK who specialise in working with banks (and other ‘lenders’) and taking PPI claims on a daily basis. They know whenever a claim is valid and in addition they discover how to force the banks into paying the optimum amount of PPI claim compensation due to you. They can manage the entire task for your needs, keeping you informed, and several of them will not cost you a cent unless they successfully obtain a compensation payment for you. They work on a no win, no fee basis.

Thus dig out your paperwork, and be sure you examine whether you have been mis sold PPI so you can receive a cut of the compensation that is attributed to you in the course of this window of opportunity to claim.

Go Claim PPI have a 100% success rate at helping people to gain compensation for valid PPI Claims in the UK.

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The Right To File A PPI Claim

If you are getting a loan, you need to be sure of what you are paying for. The reason that we tell you this is because of the fact that many have had to pay for things that they did not ask for. One of those things is that is Payment Protection Insurance, but you can file a PPI claim against them to try to get your money back from the insurance company that issued this insurance to you without your knowledge.

There are many people out there who look closely at the charges that they are being charged for by the loans that they take out. What they then find is that they are paying for Payment Protection Insurance.

This is nice to have, but many are side lined into this. They are signed up for this when you do not even know that you are paying for it. Therefore, many feel as though they should not have to pay for this. This is very true. You should not have to pay for something that you never wanted to begin with.

Others have a different reason as to why they file their claim. This would be due to the reason for the fact that they were not totally explained that they would have to pay for it nor what it entailed. They also might not have been told what all you get with this.

There are some though, who have not been told at all that they were being assigned this. They cannot afford how much it costs them to have this protection. Many go months before they might realize that they are paying for this. Therefore, they might want to go about and get their money back.

Due to the contracts they have, they might fight you until the very end to give you the money back. They might say read the disclaimer where they try ticking you that way when filing your PPI claim. This is where you might need help.

In many instances, when you read through their contract, it is in a format with so many details that you might not know what they are talking about. This is where it hurts people the most that do not have the help that is offered by services when filling out these claims. They do not know how to prove that they were taken advantage of which is why you need help. You should not be taken for. You deserve the money that you paid out when they charged you for something you were unaware of.

The thing we have to tell you is that it will not be very easy to do either. You will find that many companies who issued the PPI claim many times will fight you to the very end to deny you this. They will make you pay for it, so you have to have proof of what you are telling them. It will not be easy and you have to know what you are talking about, but with the right plan, you can get the money back that you are entitled to.

Looking to get your cash back from mis-sold-ppi? Then visit to start your PPI claim today.

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The Pros And Cons Of PPI Claim

Payment protection insurance, PPI claim could be raised when you ascertain that the insurance was sold to you by mistake. It is a right of a consumer to return the particular item which is sold wrongly to him. Same ways an inappropriate insurance sold on you contradictory to your profile could be extended as PPL claim against the lender. It is unto the financial institution to overview your case and rewards it accordingly. There are chances that you might get compensated absolutely.

Financial ombudsman service is shortly prominent as the FOS. According to the authentic reports about the various data and information collected from the FOS in the recent past, there is a sharp increase in the numerous amounts of complaints pertaining to the PPI. All of them call it as an evil sold PPI. They do insist on the banks and the other types of the lenders to react immediately and settle them with suitable compensation. Still, the FOS is of the opinion that some big conglomerates are too easy in releasing the grants for the claim without complete scrutiny.

It all depends upon how you are able to convince the banker in the first place when you are explaining your claim. Prepare in advance about what you are going to state as the reason for your ppl claim. How it is wrong sold to you? The answer should be valid and agreeable without arguments. Let us see a few compromising examples of such a kind.

There might be situations where in the lender might have imposed totally unfair amount of money in the form of premium and other costs and you do not need one such insurance for you. Cases might vary. There are individuals who had paid in whole heap of money from long time without knowing the reason that they are paying for a PPI.

It is assumed on an average, the successful PPI claim is around 2000 euros. When you are backed up by the FOS scheme as well as the financial services schemes favorably you do have a big advantage. If they advise you to file a claim then in such a case your battle is half won.

You could quote reasons regarding the nature of your professional services as well as business occupation totally contradictory to the proposed PPI claim dumped over you.

Do not panic against the bank environment while making your legitimate PPI claim. There are chances that you are rejected for the first time. You do not lose heart. Stay cool to become tougher. Stay composed to write a well explained illustrative letter to the bank officials and resend the claim again. Genuine claims cannot get suppressed easily by any banker as they knew it too. Staying softer will tend you to go loose heartened and be dismissed easily from getting your PPI claim.

Seeking the solicitors for your rescue makes sense in such cases. There are those who charge you for winning alone. File your PPI claims with such solicitors to cut costs. The FOS could be sought after for help too, when you are genuine enough.

Learn more about PPI Claims. Visit where you can find out all about how to make PPI compensation claims and start to get your cash back.

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How would you Claim back your Mis-sold PPI

In the event that you are mis sold a Payment Protection Insurance (PPI), you can claim a refund along with interest on your PPI from the bank. Thousands of customers have been mis sold these policies along with a loan or a mortgage or a credit card purchase. However, a bulk of these customers didn’t even know that they owned such a policy, nor knew how to use it in case need be. Some statistics show that less than 7% of these PPIs were correctly sold. This means billions of pounds of profits for banks and insurance companies. Lloyd bank itself has paid out literally billions of pounds to settle claims for mis sold PPIs to date.
1. Claiming your PPI on your own
I. The first step is to find out whether you qualify for mis sold PPI claim. This can be done easily b checking the credit statements of the products (loan, mortgage or credit card) purchased from these banks. If you see a monthly premium being deducted, you are availing the benefits of a PPI

II. Next write a letter or make a call to the ‘PPI claims settlement’ department of the bank. This is the standard procedure dictated as per law. You can use templates available online for drafting a complaint to the bank, seeking refund for the mis sold PPI

III. Next, a written complaint is lodged against the bank and submitted to the financial Ombudsman.
2. Hire a PPI claims company
I. There are various PPI claims settlement companies in the market and you may take help from any of these. However, it is important that you do a little research about these companies and their prices before you put one on the job.

II. You can find these companies online by a quick Google search. Make a list of those that look authentic to you and enquire about their fee

III. These companies offer to examine whether you qualify for a claim, free of charge. So avail this service that they provide.

IV. A good idea is to seek advice from someone who has already used services of such a company, and find out about their experience

V. Also find out if there are any hidden costs and charges

VI. Enquire about various schemes that they provide, such as No Win, No Fee policy, etc.

These are the two ways in which you can claim back your mis sold PPI. Whereas hiring a company may be expensive, doing it on your own will need you to commit a lot of time to the process. So chose the method that suits you best.


how to make a PPI claim

Over a 10-year period, it is estimated that more than 6.44 million consumers of financial products across the U.K were unnecessarily offered Payment Protection Insurance (PPI) by banks and financial institutions. Many of these individuals did not require PPI. Most of them didn’t know they were paying for it. And when some concerned consumers questioned the need for PPI, they were falsely lead to believe that it was mandatory, or were otherwise miss lead into thinking that PPI was something that it was really not!
Subsequently however, when some PPI policy holders attempted to make claims against their policies, their claims were disallowed – mainly on the grounds that clauses buried in the “fine print” disqualified them from receiving the benefits that they were lead to believe they were paying for.
Regulators react
As a result of many complaints to regulators, including institutions such as the Office of Fair Trading (OFT) and the Financial Services Authority (FSA), financial watchdogs initiated an investigation into the practices surrounding the sale of PPI and policy holder claims against those policies. Irate consumers also contacted the office of the Financial Ombudsman Service to inquire how to make a PPI claim.
As a result, institutions like Barclays , RBS, Lloyds-HBOS and HSBC, were ordered to repay over £9bn to affected consumers, and that’s why more and more people are talking about this “scam”.
Why bother?
And now you too have heard a friend or a colleague talking about how to make a PPI claim. You think to yourself – “What’s the point. Why should I bother!”. Well, it is precisely that kind of reaction that the big insurance corporations and large financial institutions, who wrongly sold you Payment Protection Insurance (PPI) in the first place, are counting on.
There are two main reasons that you should be interested in what’s happening with PPI claims. The first is that this is your money that was inappropriately charged to you, for a service that you did not need, or weren’t correctly explained about. If someone picked your pocket and tried to escape, wouldn’t you go after them?
The second reason that you should be interested in learning how to make a PPI claim is because, if you don’t go after the pickpockets and make them pay, the chances are they will do the same thing again. Perhaps next time the victim will be your child, your aged parents, or someone you care about. But if they know there are consequences to their rash actions, that may deter them from pulling these same schemes again.
What next?
It’s easy to pursue your claim for PPI refunds. Simply contact PPI claim processing specialists, and they will do the rest. You don’t even need to provide original documentation. You could receive as much as £3,000 in 8 weeks! And what if your claim is denied? Well, since the PPI reclaim specialists work on a “No Win, No Fee” policy, you don’t pay them anything until you receive your settlement. It’s that simple!

As specialist Payment Protection Insurance (PPI) claims handlers we cover all types of loans, credit agreements, car loans, credit cards, mortgages with PPI policies. Individuals working with the PPI Claims People team have produced results – some claims have been settled in just as little as 8 weeks. how to make a PPI claim

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