|
Payment Protection Insurance - LOANS |
Payment Protection Insurance (PPI) is an insurance policy intended to cover your monthly repayments if you are unable to work due to sickness or unemployment. Also known as Accident, Sickness and Unemployment (ASU), Mortgage Payment Protection Insurance (MPPI), Personal Loan Protector (PLP), Credit Card Repayment Protector (CCRP) or something similar dependent on the company, this type of policy is sold alongside any type of credit:
* Personal Loans (secured and unsecured)
* Bank Loans
* Car Finance
* Mortgages
* Consolidation Loans
* Credit/Store Cards
So what is the problem?
The problem with many PPI policies is that they are sold by under qualified commission-hungry sales people. A PPI policy attached to a loan can add as much as 50% to the overall monthly cost of your loan repayments.
Millions of PPI polcies have been sold and many to people who aren't even eligible to claim under the policies. Some companies automatically added PPI to loans without the borrowers even knowing it. So if you have any form of borrowing you may want to check if you are paying for a policy that you didn't want, you may not be eligible to claim under or didn't even know you had taken out.
And what can I do now?
If you think you have been mis-sold a PPI policy you can of course make a complaint to your bank or loan company yourself and ultimately take the matter to the Financial Ombudsman Service. Or you can ask Claim 2 Gain to make the complaint on your behalf.
If we deal with your complaint, about your mis sold Payment Protection Insurance policy, we will make a claim for the refund of 100% of the PPI premiums you have paid. We will also get the interest you have paid on these premiums back plus further interest at 8% per year. Most of the High Street banks have been heavily criticised for the way they have been handling customer complaints, about mis selling PPI, and our experience has shown that many banks and loan companies will initially make offers that are wildly inaccurate and do not represent a correct refund of PPI. If you want to get a FULL refund you need to know the facts and unfortunately your bank or loan company is unlikely to give you the full facts or a full refund. Make sure your complaint is in the right hands, make sure you know what you are entitled to or you are using a company that knows what you are entitled to.
If you want to use the services of a company that has over 6 years of experience in dealing with financial services complaints, knows the regualtions and knows what you are entitled to then you should complete our Quick Claim form and we will deal with your complaint and ensure you get back what's yours.
Even if you have already been rejected it is still worth appealing
If you have made a complaint to your loan company or bank about your mis sold PPI policy, the likelihood is that you received a rejection and a long letter detailing how the policy was sold correctly. Unfortunately most people who receive these responses will simply give up at this point and not pursue the claim any further. But, the letter you will have received will be a standard rejection and a copy of the same letter we receive hundreds of times every week and we still don't accept this response!
So if you have made a complaint and have received a rejection we may still be able to help, but there are time limits so you must hurry!
Although the Financial Ombudsman Service are overturning a very high proportion of complaints, what they are not doing is checking the refund offer is correct or that the money is being paid in the correct way. Which means that you could go through the entire complaints procedure and still not receive the correct refund! We check every offer and will not accept any form of refund that is not 100% correct and being paid in the correct way. If you don't know what you are entitled to and how it should be paid, the banks aren't going to tell you and unfortunately the Financial Ombudsman Service (who are not a checking service) will not advise you either.
If you want to ensure we are looking at EVERY loan and EVERY credit card for you, to ensure you are getting back the MAXIMUM amount, get a FREE CREDIT report from EQUIFAX by clicking on the logo below and getting details of all your loans, credit cards, mortgages and any other borrowing.
| 
