How to Claim PPI Compensation – the Easy Way!
You will undoubtedly have read about PPI compensation or maybe you know someone who has successfully claimed? If so, have you considered whether you might be able to claim back unfair payment protection insurance charges? If you have not maybe now is the time to investigate, for it is your right to claim back charges on policies that may have been mis sold to you. What do you have to do, and how do you know if you can claim? Let us explain as simply as possible!
Can I Claim PPI Compensation?
There are a couple of simple questions you should ask here: have you taken out a loan, a mortgage or any other type of credit agreement in recent years, and do you have an insurance policy attached to that loan that is there to help keep up the repayments if you are made redundant? If you do then it is a PPI policy, and it may be that it was not sold to you in the correct manner.
PPI has been around for many years and while most policies will apply only if you are made redundant through no fault of your own there are others that will cover you for loss of work thanks to an accident or certain illnesses. The first thing you should do when investigating your chances of making a PPI compensation claim is to get all the paperwork relating to the policy together.
Why are People Able to Claim PPI Compensation?
The regulations regarding the selling of PPI, as with all elements o consumer finance, are very strict. However, a few years ago the bodies that look after the consumer finance world acted upon a number of complaints that alleged mis-selling of PPI policies. The investigation that followed revealed widespread examples of policies that had, indeed, been sold in a manner not within the regulations.
The most common example of mis-selling that enables you to claim PPI compensation is that where the lender did not explain that the consumer had the right to shop around for their own policy. Instead this was not mentioned, and the implication was that the borrower needed to take out the lender’s own branded policy, which would be more expensive than other options. Has this happened to you?
If it has you are in a prime position to make a claim for PPI reclaim, and it is easier than you might think.
Use the Professionals
The best advice for anyone looking to put a case for compensation is to engage a solicitor with experience in that area of the law. There are many specialists who now deal only in PPI compensation, and they are easy to find via the internet. You will also find they offer you a no win, no fee deal, a package in which you will only be required to pay a fee if your claim is successful.
With many thousands of people now having the right to claim back unfair PPI fees you should get to work right away. You never know, you may be entitled to a decent amount of compensation.