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Are you qualified for your PPI claim

PPI or Payment Protection Insurance is a sum of money which helps you to cover all your payments on account of loans, credit card payment dues and mortgage. These payments are made by the insurance companies under special circumstances such as accident, death, unemployment, hospitalization etc. There are various other names for insurance like this. It is commonly known in the market as loan repayment insurance, ASU or Accident, Sickness and Unemployment insurance, loan protection or credit insurance.
Over the past few years, thousands of such policies have been sold to customers in UK, without them knowing how to use them or even knowing whether they own a PPI or not. The recent ruling by a UK court has forced these banks and other lenders to give back the claims along with interests to all customers who have been mis sold PPI . A number of people seek professional help from financial and legal specialists who are expert in helping you claim mis sold PPIs. However, an easy way out is to decipher yourselves whether or not you qualify to claim a PPI. Here is a step by step guide that will help you do so:
1. A good step to begin is by examining whether the policy that you were sold when you purchased a home, covers the entire term of the loan.

2. Also, if you were sold the mortgage saying that the PPI was compulsory, there is good reason to believe that the PPI was mis sold to you by the bank.

3. Yet another reason can be that if you were sold the PPI without being told the fee you have to bear for it, or you weren’t even informed whether the policy covers a self-employment clause.

4. If you have purchased a loan or a credit card from a bank in the last 10 years in U.K, there are good chances that you were sold a PPI without your knowledge, until and unless you specifically and categorically refused it

5. Try to recollect the conversation you had while purchasing a home mortgage, loan or a credit card, with the bank salesman. Recollect if you had any conversation revolving around terms like ASU or LPIs. If yes, then you are definitely a victim of the mis sold PPI scam. ASU and LPI are just another fancy term used for Payment Protection Insurance.

6. One of the easiest and reliable ways to check if you own a PPI is to check all your product (mortgage, credit card or loans) statements. You may find clues in terms of premiums paid to these companies for the PPI.

7. You may also search for the policy documents and booklet handed over to you while you purchased a land mortgage or a loan. Look for terms and conditions on PPI carefully. Check the company website to know the official product name of their PPI and look in the booklet for those names.

These tips will surely come to your rescue but it is advisable to hire an expert. Before hiring an expert check for their credibility and reviews online. Don’t forget to check their fee.

http://www.ppiclaim4me.com/

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