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Best Company for PPI Refunds

Although the term "payment protection insurance" (PPI) may make this type of policy seem nearly imperative, the reality is that this may be one of the most troublesome types of insurance to ever exist. There are a number of issues connected with this type of cover including the fact it has a very low payour rate compared to other types of insurance. When this is combined with the fact that PPI payments can add as much as 50% to the total cost of a loan's monthly repayments, it is easy to see why many borrowers are demanding PPI refunds. Indeed, lenders and financial institutions have been selling PPI policies to borrowers that are not only ineligible, but in some cases are completely uninformed as well.

Taking Action Against Mis-Sold PPI Policies

While it may seem unlikely that you'll be able to receive compensation from a large financial institutions such as a bank, many consumers have already done just that by finding the best company for PPI refunds. In fact, banks are not only being forced to refund mis sold PPI policies, but some have also being fined millions of pounds in additional judgments for mis-selling. Nonetheless, the amounts reclaimed by policyholders borrowers is nominal in comparison to the amount of money being earned by banks and lenders that have made a fortune with mis sold payment protection policies. Each year financial institutions in the United Kingdom earn approximately 5 billion pounds from PPI policies.

Finding the Best Company for PPI Refunds

As more cases of PPI mis-selling begin to surface, more attorneys and financial law professionals begin specializing in PPI reclaims. The best company for PPI refunds will only charge you if your case is successful, which means you don't even have to offer an additional investment to reclaim the money spent on the PPI policy. The best company for PPI refunds will also offer a user-friendly online interface that you can use to file a PPI claim and obtain a free consultation instantly.

Using a PPI Claim Calculator

The best company for PPI refunds should offer integrated online tools such as a PPI claim calculator, which offers a basic estimate of how much you may be owed in compensation for your PPI policy payments. For example, the average PPI premium for an unsecured personal loan of about £9,000 is approximately £2,200. It should be noted that PPI claim calculators do not provide exact figures, but instead should be used as a reliable indicator for a possible reclaim amount. The best company for PPI refunds should provide a simple and easy claims process, require no upfront costs, and guarantee some sort of action within 24 hours of your inquiry.

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