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Best Payment Protection Insurance Claims

Payment protection insurance at one time must have sounded like a good thing because it is supposed to offer cover for those persons taking out a loan in the event that they should suddenly lose income. Unfortunately, it rarely works as it is supposed to because there are so many exclusions and has often been mis-sold.

Shedding Light on the Best Payment Protection Insurance

It would be great cover on both ends. The borrower would get payments made and the lender wouldn't be left holding a defaulted loan. But as time went on and lenders 'should have' begun realising that it didn't offer the cover everyone felt it would. The trouble with PPI is it is just not suitable for everyone, unfortunately some lenders sold it like was. And, that's when the payment protection insurance claims started pouring in.

Opening the Floodgates - The Best Payment Protection Insurance Claims

By this point the floodgates were open and an overwhelming number of claims began inundating lenders for payment protection refunds. Only the best payment protection insurance claims were honoured and many were rejected.

Rethinking the Best Payment Protection Insurance

There have been a number of market analysts who have been quoted as saying that "payment protection insurance could have been a good thing except it was poorly designed." Perhaps there is such a thing as good loan insurance but no one has found a way to make it work for the people who need it the most, the average workers who depend on their wages to make timely loan payments. If you look at the fact that there really may only be a limited few who could benefit from the cover, you will also realise that those are the ones who rarely need such cover. As it stands, lenders are continuing to mis sell PPI in any way they can and borrowers are likewise continuing to file PPI claims against those lenders.

If you feel that you have been mis sold payment protection cover you may need to speak with a claims team member who can help you file it against the lender. If you are approved, you will get a refund. If not, you have the option of filing an appeal. To learn more about mis selling PPI and the PPI claims process, speak with the claims team on 0207 471 2000.

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