Nailing the banks and lenders that have caused the PPI scandal is a sweet feeling. Not only are you going to get all of the PPI premiums that you’ve paid in, but you’re going to get interest paid to you on top of the money. When you consider that you might have loans stretching back to 10 years ago, that’s definitely something that is worth pursuing.
There is actually nearly 5 billion pounds being held in a compensation fund. If you think that getting a piece of that pie wouldn’t brighten your world considerably, you’re in for a big surprise. It’s all about making sure that you are taking care of your finances inside and out. If someone has money that’s rightfully yours when you definitely owe it to yourself and your family to get that money back as soon as possible. Think about everything that you could do with the money.
While some guides suggest that you go out and do the DIY thing to get your PPI claim back, this is not really the best option around. For starters, you’re going to face a lot of rejection. If you’re the type of person that really doesn’t want to discuss anything with anyone, then you really need to make sure that you don’t get down this route. There’s no reason to torture yourself. If you’re not the type of person that does well with confrontation and explaining your story, why not let someone else handle your PPI claims?
It’s time to get a claims company to handle it. If you have very old loans, you might think that you’re going to be able to claim those with ease. The truth is that those take a bit more work, and that’s research that a lawyer would be better equipped to handle than you. This might sound harsh, but we’re not trying to be mean at all.
On the contrary — we want to see you actually get as much money as possible from the whole thing. If you’re thinking only about your own goals when it comes to getting this stuff done, then you might miss very common mistakes that are going to trip you up.
Why put yourself through that type of misery when you can let someone handle the entire case? The world is truly brighter with PPI claims, but you will need to make sure that you check it out for yourself. Just make the call and get an initial consultation — they will definitely take it from there!
PPI isn’t something that automatically has to be complicated. When you think about the massive PPI scam, one thing that you have to realize is clear: in order to escape it, you have to fight back. You have to reclaim what belongs to you, and you have to do it quickly.
You see, PPI claims are making a big splash because of the sheer amount of money that has been taken from hard working consumers all across the UK. If you had a loan in the last 10 years, chances are very good that you’ve had to carry PPI — even if you didn’t even know those premiums were on your list. It’s this type of thing that can definitely ruin your entire day, but why should you just have to accept it? Isn’t it time that you fought back and got your money?
Of course it is. Yes, you might be frustrated, angry, and even confused, but you can’t give in to your emotions. There are just too many other things that we need to do in life, and getting worked up is going to just make things harder in the long run. When it comes to PPI claims, you need to go on the facts. If you’ve had a loan that’s been refinanced, you will want to make sure that you don’t have multiple PPI policies floating around out there. That would just mean that there’s been more money taken from you than you would expect.
It would also be a wise thing to get a solicitor well versed in PPI claims to handle your case for you. They will work on a contingency basis, which means that in the case of you not winning, you aren’t going to have hefty legal bills to deal with. Working on contingency is truly a win-win deal for both of you. The solicitor will take their fee as a cut from what you are awarded, and you will have money to go on with your life.
Since it was always your money to begin with, you will be able to do whatever you want with the money. There’s nobody that’s going to stop and tell you what you can and cannot do, of course. You just need to make sure that you are keeping aware of everything going on with your case. It can be resolved, but you have to find the strength to fight back. Don’t look to the Government to take care of it for you. You have to stand up for your rights, or they can be taken from you in an instant. What will you choose? Good luck!
Payment Protection Insurance is an insurance that normally comes along with credit cards or loans, which are distributed by the banks. Most lenders tend to include and or offer PPI’s within the said loan. This insurance policy offers the ability for the borrowers to pay their debt in case of a downtime; loss of job, personal injury etc.
When obtaining PPI, you must have extensive knowledge on how this particular policy works. The better your knowledge, the better you can understand PPI claims. The existence of these loans is highly popular but unfortunately most lenders are applying these policies without the knowledge of the borrower. Which in turn means that most people are paying out on an insurance they have no clue about. Not knowing about these PPI insurance policies can cause you to not take advantage of the PPI claims that come along with having this type of insurance without knowledge.
PPI claims are important to people who have been offered something without knowledge. Determining the basis behind a mis-sold PPI is a situation that will allow you to claim your paid out funds.
If during the time of the loan you weren’t confronted about a PPI, a PPI reclaim can be done. If you can ensure that a PPI was wrongly issued to you without knowledge, your PPI claim will be compensated with interest.
How to Claim your PPI
Even though it’s a great thing to include a PPI to your loan, it’s even better to know that you have done so. If you are looking for a way to claim your PPI, there are a few steps you can take to make this happen.
- Make sure that you actually have payment protection insurance, before you begin a claim.
- Be sure that you can receive a refund. Your policy must be within the last six years of expiration. Most lenders don’t keep paperwork after the 6 year mark. So, it will be important to have your own paperwork on hand if your policy goes back further than 6 years.
- Understanding how the loan was offered to you is important. Check to see if a “cooling-off” period was offered, as well as terms and conditions. Not knowing the reason it was sold can help your claim see success.
- The first person to approach for your claim is the bank and or lender who sold you the policy. If you are denied, you will want to get a deadlock letter and in turn take it to the financial Ombudsman Service. You can also use the help of a claims company who will help get your money on your behalf without you having to worry.