For thousands of people across the UK, they
are currently paying more on their major loans as well as store and credit
cards if they have payment protection insurance (PPI) added. While PPI was
necessary for many of their loans, the recent scandal of banks and lending
institutions overcharging for payment protection, even adding it when it was
not necessary has led the government to form a reimbursement program that
allows borrowers to reclaim PPI payments if they were mis sold PPI, overcharged
or mis-informed about what PPI meant for their loan.
Understanding if you were mis sold PPI starts
with checking out your loan application and your most recent monthly bill
statement. These forms will indicate if you have payment protection that has
been added to your loan. If so, were you required to have PPI? Are the rates
you are being charged the standard across all loans or are they more expensive?
Does the terms and length of the PPI match your loan?
If you are unsure about the answers to any of
these questions, its well worth it to take your loan application form and
monthly loan bill to the experts who have handled hundreds of cases to reclaim
PPI payments. The government reimbursement process is a complicated one that
requires having the right type of forms and following the process precisely in
order to get the money you are owed back to you. Having professionals doing the
work for you means you maximize your chances at getting back the money that was
taken from you when you were Mis Sold PPI.
One example of how many banks and lending
institutions mis sold PPI was to those who were self employed. You may have
been mis sold PPI if you fall under one or more of the following conditions.
– Ready
to Retire
– Working
Part Time
– You
are a temporary contractor
– You
were going on maternity leave
– Youre
job was due to be made redundant
If you fall under any of those conditions,
you may have been mis sold PPI and are eligible to reclaim PPI monies that you
have paid into the system even if you used the PPI to cover some of your loan
payments.
Sadly, thousands of UK residents do not take
this step because even if they feel that they are owed money by the banks and
lending institutions that they dont want to pay anymore unless they are
guaranteed a return. Fortunately, these professionals do not charge for their
services until you reclaim PPI funds that you have paid. When that happens they
take a small percentage of the money that is owed to you. So you are at no risk
whatsoever in terms of spending any money to find out if you qualify to Reclaim PPI money that you have paid into the system.
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