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Claim Back PPI Insurance

Lenders have become quite crafty here recently. They are going so far as to sell people payment protection policies which cannot even be used. Why can't they use them? Well the answer is simple really; they do not qualify for them. This comes as a result of the many conditions and situations that cause a person to become ineligible for PPI coverage. Let us take a look at some of the things which would prevent a person from being covered by PPI. Firstly, a person must be a full time employee, that is to say part time workers are automatically disqualified from PPI coverage. However and here is where the tricky part comes in. Lenders are still selling these people PPI policies knowing full well that when the time comes to collect on the benefits due to payment protection claims the insurance company will deny coverage.

Who Is to Blame for PPI?

Who is to blame for this misrepresentation? Is it the insurance company? Surely not, all they do is provide insurance policies. Therefore the responsibility falls on the lender. It is the lender's duty to be sure that all people who are sold a PPI policy are actually eligible for one. Of course, considering the fact that only approximately 13% of everyone in the UK workforce would be eligible this may pose a problem to lenders who are looking to line their own pockets.

What Can Be Done about Mis Sold PPI?

Now the question is what can be done? The first thing that should be done is what is known as a claim back PPI insurance procedure. This basically means that the person who has been paying the PPI premium, and who has recently found it to be fraudulent, goes through a process to try and claim back PPI insurance monies that he/she has paid out. Obviously, this is not going to be done directly through the lender that sold the policy in the first place as that institution would hardly admit to any wrong doing. No, in order to claim back PPI insurance money that has been overpaid it is best for the borrower to contact a good PPI claims companies.

These companies are in place especially for people who have been misled and mis-sold PPI policies. They are well experienced in the steps that need to be taken in order to be sure that consumers are able to claim back PPI insurance premiums they should never have paid in the first place. Trying to claim back PPI insurance money on your own is comparable to defending yourself in court for murder. It is never a good idea and hardly ever ends well. Instead, contact a specialist and get help where it is needed. Never be ashamed to admit that you have been duped as it can happen to the best of is. But take a stand and do what you can to claim back PPI insurance money that has come out of your hard earned wages over the years. By taking a stand you may make a difference in the way another person is treated by the lender in the future, as well as possibly gaining some of your money back in the process.


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