subject: Discover how To Claim For A Mis-sold Payment Protection Insurance Policy? [print this page] Discover how To Claim For A Mis-sold Payment Protection Insurance Policy?
Often I am asked if someone has a claim for a mis-sold Payment Protection Insurance policy. I discovered that there are many people out there that have no idea how many potential PPI claims for mis-sold Payment Protection Insurance policies they have. Often when we are arranging a new loan, mortgage or credit card we are asked to take out an insurance policy that will protect our payments if we are unable to work due to an accident, illness or redundancy. Most of us consider ourselves responsible and accept these policies often without understanding the terms and conditions.Some of us are paying Payment Protection Insurance on three or four credit cards, a loan and our mortgage. I believe we could have somewhere between one and six mis-sold individual claims; although some of us have more and some of us have less.The regulators have imposed fine for the mis-selling of Payment Protection InsuranceThere has been much controversy about the mis-selling of Payment Protection Insurance cover. Fines totalling 22.7 million has so far been imposed on financial providers for mis-selling PPI and Alliance and Leicester was fined the largest single amount of 7 million for mis-selling. Payment Protection Insurance has provided the banks, finance companies and retailer business that provide finance with a major source of income in the past.Below are some of the reasons why you may have been mis-sold PPI with your loan, Mortgage or credit card Payment Protection Insurance policy. There are still hundreds of thousands of mis-sold Payment protection policies out there todayHERE ARE A FEW REASONS WHY YOU CAN CLAIM?If you can answer "YES? to any of the questions below then you could be entitled to make a successful claim for mis-sold PPI:Has your Payment Protection Insurance provider been fined by the industry regulator, the FSA for mis-selling? (See the list of firms fined by the FSA above)* Were you self-employed, unemployed, retired or on a fixed term contract at the time your PPI policy started?* Was it explained to you that the PPI premium would be added to your new loan and that your new loan would attract more interest over the term of the loan?* Were you pressured into purchasing a Payment Protection Insurance policy by the salesman?Did your Insurance provider ask you about any pre-existing Medical condition at the time your Payment Protection Insurance Policy was arranged?* You were told that PPI was compulsory with your finance agreement?* Was Payment Protection Insurance sold to you without your knowledge?You weren't given full details of the insurance policy (terms & conditions)?* Were you told how much the provider was earning by selling this Insurance policy to you?* Was it made clear to you that buying a PPI policy was optional and that you had the right to shop around for a different policy? Or were lead to believe that you might be refused a loan or credit card if you did not take out a PPI policy?REASONS WHY YOU WOULD NOT HAVE A CLAIM* You have already made a successful claim and been paid by the provider of your PPI policy.* Your PPI policy ended over six years ago.How to make a successful claim for mis-sold Payment Protection Insurance (PPI)many companies are capable of handling your claim for mis-sold payment protection insurance. They will charge you around 30% of the amount of compensation that is awarded to you on completion. They will take over the claim procedure and after approximately three months they maybe able to forward you a cheque for your Payment Protection Insurance compensation award.Alternatively, you could manage the claim for compensation yourself and keep all the money awarded to you. This would save you up to 30% of your Payment Protection Insurance compensation award. Most of us are at a loss when it comes to claiming as we lack the experience and the knowledge to do it ourselves. We need the knowledge of "How to claim for Mis-sold Payment Protection Insurance Guide? and it is only by doing the hours of research that we may stand a chance of making a successful claim.
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