Missold Ppi - How To Claim Back Thousands!

Until very recently, banks and loan companies were able to add PPI charges onto your

loan repayments without giving you the facts about these policies and sometimes no even telling you about them at all! The FSA have since got wise to this practice and have clamped down on unscrupulous missold PPI policies that cost customers thousands of pounds.

If you have a credit card, loan, or store card, it is worth checking your documents to see if you are paying any PPI premiums each month. If you believe you have been missold PPI then it is time to make a stand and claim back the money that is rightfully yours. If you are worried that this will be a lengthy and complex process, don't worry. The procedure of reclaiming PPI from a missold PPI policy comes with full backing from many financial authorities who actually want you to make a claim.

Think about when you took out your loan or opened a credit card account. Were you encouraged or even bullied into taking out personal protection insurance? Maybe you were bombarded with scare stories about the effects on your family if you couldn't meet your loan repayments or that the bailiffs would come calling if you didn't take out a policy. If this is the case then you have definitely been missold PPI. Whilst personal protection insurance isn't a bad thing to have, you should never be forced into taking out a policy.

Thousands of customers have taken out PPI policies and have ended up paying up to 4 times more than they should for insurance they will probably never even use. Missold PPI was big business up until a year or so ago and now customers are getting wise to the tricks and sales patter and are starting to either avoid taking out the insurance in the first place or making reclaims on the PPI premiums they have paid out. Either way it is bad news for the PPI companies who once thrived on missold PPI policies.

If you need assistance with making a claim there are plenty of professional PPI reclaim companies who can assist. They look at each case on an individual basis and will let you know if you have a good chance of claiming your money back. Many people have paid out thousands of pounds over the years and it is definitely worth making a claim if you think you were missold PPI at any point. A PPI reclaim company will fight on your behalf to get you the compensation you deserve whether it is from a high street bank or a local loan company. You have nothing to lose and so much to gain.

by: Gareth Hoyle

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