Payment Protection Insurance Claims
Payment protection insurance claims are on the increase, and the reason behind this is down to the fact that people are starting to realise that the banks have been ripping them off with this little extra that they have been adding on to loans, credit cards and mortgages. For the banks this little extra add on has been a nice little earner, but for the consumer it has more often than not been and absolute waste of money, and for those that have tried to claim a huge disappointment. But, with the advent of no win no fee solicitors payment protection insurance claims are being clawed back for the consumer.
The payment protection insurance has mainly been added on to loans since 1974, and the good news is that you can actually claim back that far as well. It is estimated there have been 22 million loans that have been sold with PPI since then and of that 22 million 95% of them have been mis sold, so there is a high probability that if you have borrowed money this could have happened to you.
Typical PPI mis selling tactics are:-
- Telling you the payment protection insurance is mandatory.
- Not informing you that the payment protection insurance has been added to the loan.
- Not checking your medical history therefore making the insurance worthless
- Not checking your employment status making your insurance worthless.
