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Are You Eligible For A PPI Reclaim?

Although there are hundreds of thousands of cases of wrongly sold payment protection insurance in the United Kingdom, there are still a large number of people who are not actually aware that their policy was wrongly sold. If you are the holder of a payment protection insurance policy, then it is important that you look into it further. If it was wrongly sold, then you could carry out a PPI reclaim. If your compensation claim is successful, then you could be in for a very large sum of money.

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To begin with, remember when you actually took out your policy. Did you know that it had been added to your loan or your credit card? Did the lender fully explain the policy to you, even about any exclusion clauses that could affect you? Were you told that your loan or credit card application would be rejected if you did not take out payment protection insurance? They are all essential questions that you simply need to ask yourself in order to establish whether or not PPI was wrongly sold to you.

Once you are fairly certain that your payment protection insurance was wrongly sold, you are going to need to start the ball rolling for your PPI reclaim. This is a very lengthy process, and one that can be incredibly stressful, but it is definitely worth doing if you strongly believe that your PPI policy was wrongly sold. Gather as much evidence as you possibly can, and then decide if you are going to handle the claim, or you are going to use a professional claims company to handle it for you.

If your PPI claims are successful, you could receive thousands of pounds. However, there are a number of factors that will affect the amount of money. How long you have had your payment protection insurance, and how much you have paid for it in premiums will play a huge amount in the sum of money that you receive. However, if you think that your policy was wrongly sold then you should get your claim started right away.

Do you need to reclaim PPI?

There are several people all over the country who have taken out payment protection insurance. This is a unique type of policy that will cover your loan or credit card repayments if you aren't able to work due to sickness or redundancy in some cases. Whilst this type of insurance does have it's benefits, there is one major drawback, and that is the fact that it has been incorrectly sold to hundreds of thousands of people. Worryingly, this is something that happens on an almost daily basis. However, thanks to banks up and down the country setting aside millions of pounds, you are now able to reclaim your premiums.

First of all, you want to do is to figure out whether your payment protection insurance was actually wrongly sold or not. There are several cases when it has been sold in the correct manner. However, there are a growing number of examples in which it has been wrongly sold. For example, there are some lenders out there who have been found out to be pressuring their customers into taking out PPI. Edge in the game by informing the client that their loan application will be rejected if they fail to take out a policy.

However, case one of the numerous different ways in which payment protection insurance has been wrongly sold, there are so many others. Once you know for definite that your policy was wrongly sold, it is time for you to start the claims process to gain the compensation that you deserve. Most people will use a professional claims company to act on their behalf. This is because these companies hire highly experienced staff who are specialists in wrongly sold PPI. However, you can tackle the claims company yourself if you so wish.

Whichever route you decide to take, it is important that you get the money that you deserve. Depending on certain factors, you could be in for a very large sum of money indeed. Start your claim today, and see if you win your case.

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Posted in Home Improvement Post Date 12/08/2016


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