When you take out a large loan or a mortgage, you may worry about how you’re going to pay it back if you stop being able to earn money. You can take out insurance to cover the loan repayments if something like this happens. This is called Payment Protection Insurance (sometimes called “Loan Protection” or abbreviated as “PPI”). PPI is designed to cover the loan or debt repayments if you are no longer able to meet the financial commitment due to certain problems – for example, if you are unable to work because of illness, or are involved in an accident r become unemployed, through no fault of your. PPI is often sold alongside loans, mortgages or credit cards, but it is possible to buy a “stand alone” payment protection policy through an insurance company. Typically a PPI policy will cover your monthly finance repayments for 12-24 months and this period is long enough for most people to start working again and find other means to repay their debts. However many-a-times, PPI can be mis-sold to the consumers. Due to which very few people are able to make payment protection claims as insurance being unsuitable for their needs. Even the cost of PPI can be high. It can add a significant amount to your loan. Therefore, you should always shop around to make sure you are getting the best deal and a policy which will meet your needs if you make a claim. Therefore, it is always advisable to hire a company that works as PPI claims expert. Your PPI expert can help you in many ways. Many disputes turn on about what the so-called “small print” of an insurance policy says and means. They understand your PPI refund case and they handle your case efficiently. Vastly mis-sold PPI led to rise in the need for PPI claim calculator services to work out how much you might be owned by your lender or bank. Using a PPI claim calculator can be a good way which gives you a rough indication as to how much compensation you are potentially entitled to but an online PPI calculator is not always accurate. Any individual who fees that they were mis-sold PPI is entitled to a PPI refund. If you take out a loan without realizing that it includes PPI or the policy turns out not to be suitable, you may be able to make a claim against the lender for mis-selling you the policy.
The first thing that comes to mind when we take a large amount on loan or mortgage against our existing asset is that what happens if the income stops. How are we going to pay back the sum and what happens next? The best thing to do at this point is to go for an insurance specifically meant to cover loan repayments in case of discontinuity of income and the consequent inability to meet the financial commitments. This type of insurance is called a Payment Protection Insurance (PPI) also known as ‘Loan Protection’.
In case of sudden unemployment, which can be due to variety of reasons including accident, illness or other unavoidable situation, your PPI policy will cover the repayment commitments for 1-2 years which gives you enough time to get back into the job front again without breaking your head over repaying debts every month.
PPI are typically bought along with credit cards, loans and mortgages but can also be bought alone. One thing to keep in mind is that, there are a number of cases where the PPI was mis-sold to a consumer and may later lead to inability to claim a payment protection coverage which suits their particular need. Sometimes the PPI cost can be high and can but an extra burden on your loan. It is always advisable to research and consult PPI claimexperts before purchasing a Payment Protection Insurance to ensure you have the best policy which will cover your individual need the best.
Large cases of mis-selling of PPI policies has led to the need for reliable PPI claim calculator services. These PPI experts are professionals who deal with the ‘small print’ instructions and other nitty-gritties of PPI policies. Is recommended that you take your refund case to these experts for efficient handling of your case. Although these days there are umpteenth number of online PPI claim calculators available they are not always correct.
It is always advisable to go to a good PPI claim calculator for a rough estimate of the payment protection claim you are entitled to.One important point that most people are unaware of is that anyone who realizes that they have been mis-sold a PPI policy can claim for a refund. It can include cases where the loans and mortgages included PPI without the knowledge of the consumer or when the policy sold is unsuitable for the party.
You can find out more about -http://www.guardianppiclaims.co.uk/
You thought that your insurance cover would help you in adverse situations; however you were shocked to see that you have been paying much more than what your premium should have been! Does the case sound familiar? Do you also believe that you had insufficient information, or were forced to buy the payment protection insurance? If that’s the case, then you might have a claim.
In the past few years, there has been an increase in the number of victims, who have been the victim of mis sold Ppi. However, they have taken the legal recourse and got their rightful. You could also do that. The first step for the legal step would be to gather all your documents and credentials and all the paperwork related to the borrowings or the loan. The next step is, hire an expert lawyer. Undeniably, the legal process is very intricate; thus, it is important that you hire a skilled and proficient attorney, who will help you get what you rightfully deserve. There are some important qualities that you should look in the attorney and then make the final call.
Sincerity and frankness is a must: When you opt for a lawyer, it is important that he is sincere and honest. The best attorneys will always give you a frank and fair advice about your claim and how much can you claim for. They will go through your case and let you know if aver is valid or not. Also, they are candid and willing to provide you with valid information on how to claim PPI. The licensed attorneys will also let you know what the standing of your case is.
They should be consistent and dependable: It is important that the solicitor is reliable and handles the claim with all competencies. After all, they help you overcome the economic loss that you endured. The finest way to look for a dependable lawyer is by asking your friends or relatives or by going online. To know more about their dependability is by seeking their consultancy services through the websites, which is expedient and extremely reliable.
They must have ample experience: It is vital that you seek services of lawyer, who is extremely experienced and understands all the legalities. You should have heard about the lawyer and he should have been in action for a substantial amount of time. This will make certain that they are conscious of the diverse ways on how to claim PPI. The attorney should also be aware about the changing laws and rules, so as to ensure that your legal rights are protected.
Reputation is a must: When you hire a lawyer for mis sold Ppi claim, it is important that he is reputed. That will ensure that he is licensed and registered by the government agencies. This will also make certain that they obey the rules of the industry’s values as far as the information about PPI claims is concerned. Going by their reputation, it is also vital that the attorneys do not charge excessive prices for information provided on how to claim PPI.
When you look for all these qualities and then make a decision, the chances are less that you would not get what you legally and rightfully deserve.
Kirti Saxena is a web enthusiast and a writer. Kirti has afforded her articles and write-ups autonomously and through various online forums.
What to do ?
1.Down load the FOS Questionnaire and fill it properly.
Click this link to download FOS questionnaire http://rupiyala.com/ppiclaimform_online.php
2.Write a cover letter to the Financial company/Bank with your grounds that why you think the PPI was mis-sold to you and therefore you are requesting the money back.
To see and get an idea under what grounds you can make a claim see below my form,then you can get an idea.
Download a sample letter.Click below linkfor Sample letter http://rupiyala.com/ppiclaimform_online.php
3.Attach photocopies of all loan agrreements,laon statements etc. if you have.
4.The most important thing is you must order your bank to pay and you must tell them how much you need them to refund to you.For this you need to do some calculations and this will be depend on the initial loan value,PPI value,the interest rate you borrowed,how much you have paid sofar,the value of the installment.etc.But if you put that figure your case will be strong and bank may not just pay you something but will try to pay everything they owe you.
I know the calculation is the tricky part as we all cannot get this right.Well I know several people cannot do this by their own
I am happy to fill the Questionnaire and to write your sample letter for you.I can Either email or Post it for you with all the instructions what to do
If you wish please fill the below form accurately or to read more goto link below