PPI claims are far more unexceptional than most individuals think. This is probably because the incidence of mis-sold policies is kind of high. Inspections in the recent years have shown that millions of PPI policies have been wrongly sold to credulous folk over the years. Given the rather accelerated number of mis-sold PPI policies during the past couple of years it is entirely possible that you may have also been sold a PPI policy that you don't actually need or isn't 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 which has just recently expired you can consider checking your details to see whether you're eligible to take advantage of PPI kickbacks. The Financial Services Authority offers 1 or 2 remedial measures to fix any wrongs that may have happened in this way.
The surprising thing about the entire issue is that once PPI claims started coming to the front, a rather worrying fact came to light: even some of the most well-known and reputed names in the sector were accountable for mis-selling PPI policies to clients. So as to prevent such misconceptions from occurring again in the future the Financial Services Authority introduced 1 or 2 laws and guiding principles to govern trade practices.
More folks than not have PPI policies. They're very common in cases where a mortgage has been taken out or you could have confirmed a credit agreement or you could have signed up to a loan. It is important to ensure that if you have a PPI policy or lately had one, it is only because you actually required it. PPI policies are needed in order to be in a position to make the payments on an active policy in case one isn't naturally capable of making the payments on their own, for which there can be several reasons such as sickness, old age, infirmity, unemployment, insolvency and the suchlike.
Here are some indicators that you have been incorrectly sold a PPI policy and could have valid grounds to claim a refund-
– If you were sold the PPI fraudulently; in the event that you didn't truly need a PPI cover but the insurer's broker or seller or bank convinced you it's “essential”, when it's really not, or attempted to make a case out of an existing illness you could have and use it as the base for requiring 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 proffer a PPI cover to you but they also must leave you alone to make up your own mind about whether you would like it or not.
– It is essential that you be given the chance to research other market options as well before narrowing your selections. It is the lender’s duty to allow you the liberty to choose.
For more information about ppi compensation, claims and to get you ppi refund click here.
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