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Bank Loan Charges Reclaim

Many times financial services were applied for by couples and were attached to payment protection insurance policies. If this relationship was to dissipate before the payment protection policy was over and the income is dramatically decreased there's a good chance that they would not qualify for coverage. This is just an example of how in the last decade many people have been taken advantage of by lenders mis-selling payment protection insurance in the United Kingdom. The lenders took advantage of the borrowers by mis-selling this insurance. Common ways in which lenders mis sold PPI are as follows:

  • Lenders pushing payment protection upon applicants by advising them that payment protection is necessary in order to be approved for the financial service in which they would like to receive.
  • Lenders not advising borrowers as to how much money the payment protection policy would consume in relation to the financial service it was been attached to.
  • Lenders not informing borrowers as to what the eligibility requirements are or the terms and conditions of the policy.
  • Lenders playing payment protection policies and a mix of loan documents and the like passively forcing the applicant to apply for payment protection insurance.

With the alarming amount of mis sold payment protection policies it is unsurprising so many customers are so angry.

Greedy Lenders

Lenders were manipulating the way in which payment protection worked for their own benefit. Many times bank loans were attached to payment protection. Considering one survey showed just 15% of customers had been successfully able to use the loan PPI it is hardly surprising bank loan charges reclaim is so widespread. A bank loan charges reclaim is a kind of PPI claim that refers to charges relating to a bank loan that was insured with payment protection. In the last two years the financial ombudsman service has reviewed over 80,000 claims against lenders who sold PPI.

Relief at Last

With such a high amount of shameful activity going on in regards to financial institutions it is quite understandable if a policyholder would like help in trying to receive compensation in relation to payment protection. Of the thousands of people looking to get a bank loan charges reclaim be in good cheer, PPI claims companies have experts in the field. These companies can get a bank loan charges reclaim started in last 24 hours and completed in as little as eight weeks Also some of these companies work on a no-win no pay basis extending a helping hand in difficult times.

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