Have you borrowed some amount recently from any financial institutions, including banks? Well, if yes, then you must check first that if you are tied with any PPI or payment protection insurance or not. A PPI is important, but often mis-sold by the lenders for payment security. Sometimes, banks mis-sell PPI to the senior citizen borrowers. In such cases, PPI would not come into the act as according to regulations of US federal, senior citizens do not need any PPI. Sometimes, banks sell a higher amount of PPI to the borrowers, without the consent of the borrower. Hence, borrowers should know how to claim back ppi that they have paid for and not got any benefit out of.
Here are some of the things that you should do if you think that you have been mis-sold PPI –
- There are many people out there who have been mis-sold PPI by various means. While many of them never realized that the PPI is already a part of the policy, many others were forced to take in order to get the loan. However, it cannot be denied that payment protection insurance in itself is a good product but not everybody requires it and neither everyone are eligible for it.
- If you did not opt for it and still got it without your knowledge, you have all the right to claim the money you gave for it over the years, which can amount in thousands of pounds. Thus, you need to be sure that the company has mis-sold the ppi to you.
- To realize if you have any mis-sold PPI or not, you can get in touch with a professional PPI claims company, which will guide you with your mis-sold PPI and would construct the required measure that are needed to be taken to retrieve PPI claims.
A Professional PPI claims company has a good in-depth knowledge of what agents and company do to mis-sell PPI and thus, will look exactly there in your documents to find how and where the PPI got attached to your loan as a mis-sold the policy. Government has become stricter on the policy of selling PPI now and thus, anyone who has grievances with PPI being mis-sold to them can now claim their money back and if you think you were a victim to this as well, claim your money now with the help of a professional PPI claims company.