subject: Ppi Refunds - You May Be Entitled! [print this page] Over 6.44 million consumers of financial products have been sold unnecessary Payment Protection Insurance (PPI) for financial products that they purchased from their financial institutions, including banks, insurance companies and credit cars issuers. Watchdog agencies and regulators have concluded that those individuals should be given appropriate refunds. Many PPI consumers in Northern Ireland may therefore be entitled to file PPI claims to receive their refunds.
Unfair cash grab
As part of paying PPI in Northern Ireland, you may have paid:
for Loan protection
for Employment protection
for Sickness and illness
for Accidents
for Credit card repayment
for hire purchase repayment protection
All such payments were supposed to offer you, the consumer, protection in the event of some untoward occurrence that precluded your ability to repay the loan. However, in many instances, when consumers of PPI in Northern Ireland filed a claim to invoke such protection, their claims were often rejected. Financial watch dogs and regulators, including the Financial Services Authority (FSA) and the Office of Fair Trading (OFT), have concluded that those rejections were unfair, and that consumers deserve to get appropriate refunds.
An uphill task
While it is great that the law now agrees that you are entitled to a refund, the fact of the matter is that individuals are so engrossed in making a living to make ends meet, that they really don't have the time or the inclination to go through yet another process to file a claim. If the process was as simple as making one single phone call, then that would have been great. But it's not!
In many cases, multiple parties were involved in soliciting the initial business that you purchased, so it might be unclear whom should your claim be addressed to. In other instances, you may not have been aware that you were actually paying for PPI in the first place. Yet again, some loans and debts may have been paid off early, adding to the complexity of figuring out who should pay the refund - bank, insurance company, mortgage broker - and how much.
Claims made easy
Enter professional consumer support companies who have mastered the process of filing for and successfully claiming PPI refunds in Northern Ireland and across the rest of the UK. Their professionals know all the short cuts and the loop holes that high-paid lawyers and claims adjustors use to deny your claim. After all, every claimant is entitled to roughly 3,500 in PPI refunds. And with over 6.44 million claims, that's huge sums of money they have to reimburse. And lenders do their best to ensure the process isn't painless for individuals filing a claim.
But when they know they are dealing with a well organized, credible group of professionals, who have been doing this for a while, they know that they have met their match. Professional companies have managed to get quick refunds - some in as little as 8 weeks! And in the event that your claim is still rejected, these claim processing companies do not charge you anything. They work under a "No Win No Fee" understanding.
