PPI Claims

PPI claims are more commonplace than most people think. This is probably because the incidence of mis-sold policies is rather high. Inspections in the recent years have shown that millions of PPI policies have been wrongly sold to unsuspecting people over the years. Given the rather accelerated number of mis-sold PPI policies in the past few years it is entirely possible that you may have also been sold a PPI policy that you don’t really need or is not really valid for your case. If such is the case you might be eligible to make some PPI claims and apply for refunds or compensation of some sort. In case you have a currently active PPI policy or one that has only recently expired you can consider checking your details to see whether you’re eligible to make Payment Protection Insurance claims. The Financial Services Authority offers several remedial measures to correct any wrongs that may have occurred in this way.

PPI Claims – You Could Have Been Mis Sold Your Policy

The startling thing about the entire issue is that once PPI claims started coming to the fore, a rather worrisome fact came to light: even some of the most well-known and reputed names in the industry were responsible for mis-selling PPI policies to clients. In order to prevent such fallacies from occurring again in the future the Financial Services Authority introduced several regulations and guidelines to govern trade practices.

When it comes to PPI claims UK people are more than likely to have PPI policies. They are extremely common in cases where a mortgage has been taken out or you may have signed a credit agreement or you may have signed up for a loan. It is important to ensure that if you do have a PPI policy or recently had one, it is only because you really needed it. PPI policies are needed in order to be able to make the payments on an active policy in case one is not naturally able to make the payments on their own, for which there can be several reasons such as sickness, old age, infirmity, unemployment, bankruptcy and the suchlike.

PPI Claims – Reasons Why You Could Have Been Mis Sold

Here are some indicators that you have been wrongly sold a PPI policy and may have valid grounds to claim a refund-

• If you were sold the PPI under false pretences; in the event that you did not really need a PPI cover but the insurance agent or seller or lender convinced you that it is “essential”, when it is actually not, or tried to make a case out of an existing illness you might have and use it as the basis for needing a PPI cover sometime in the future.
• If you were not given enough time and space to make a decision on your own. It is important for lenders and agents to suggest a PPI cover to you but they also need to leave you alone to make up your own mind about whether you want it or not.
• It is essential that you be given the opportunity to research other market options as well before narrowing down your choices. It is the lender’s duty to allow you the freedom of choice.