PPI Claims - Were You Mis Sold PPI?
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There has been a substantial amount of controversy over the last few years concerning payment protection insurance (PPI), mainly caused by overzealous brokers making use of unethical procedures when selling it to consumers. The term now used for this activity is termed mis sold payment protection insurance or mis sold PPI.
In numerous instances of this mis-sold PPI, the loan companies would lie and convey to the potential loan borrower that they would not receive a loan without buying the PPI. This indeed was a falsity and a measure to deceive. In these cases, the borrowers that feel for the trap to buy the PPI were charged a greater priced policy than if they had obtained PPI on their own.
Other clients might not even realize they were sold a payment protection insurance policy. It might be a wise choice if you had received a loan or mortgage and were never offered PPI to check and see if you are paying for a policy you never agreed too.
We have a short list of questions to ask to see if you were mis sold payment protection insurance.
* Did the lender tell you the policy was not optional, or did they suggest that the PPI cover was required in order to receive the loan?
* Did the lending company ask about your employment status and whether you had any pre-existing medical conditions?
* Did the lender allow you to look at the policy terms and conditions before the close?
* Did the lending company ask you if you owned some other insurance that may cover such risks?
* Were you sold PPI while self-employed?
* Were you told of the limitations and just what pre-existing conditions would not be covered?
* Did the lender advise you on what the total APR would be of your loan with PPI incorporated?
* Lastly, if you did purchase payment protection insurance and tried to cancel it, were you denied?
In the event you responded yes to any of these questions it is possible that you may have a case and therefore file the ppi claims. There are many ways one can do this. You can contact specialists in the field that may help you with the claim. Many companies will do everything trying to acquire a fair settlement for you. You are also able to pursue your mis sold payment protection insurance claim by contacting the Financial Ombudsman and get the info required to file.
Article Source: Articlelogy.com
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