Claim Back Unfair Bank Charges
Misselling PPI is always unfair to the consumer because the either didn't know they were buying and insurance product when they took out a loan, didn't want PPI or were misled into believing it provided more cover then it actually could. Sometimes consumers didn't qualify for PPI right from the very beginning but were sold the insurance anyway. Other times lenders simply added it to a policy without making the borrower aware that they were going to be purchasing a payment protection insurance policy. No matter how you were mis-sold PPI the government says you can file a claim to claim back unfair bank charges.
Loan Insurance and Unfair Bank Charges
If a lender knowingly mis-sells loan insurance, the borrower is entitled by law to claim back unfair bank charges. Sometimes it is a long drawn out process if paying for that mis-sold loan insurance caused extreme hardships for the borrower. Other times a PPI claims company can help you claim back unfair bank charges by filing the claim on your behalf. In any event, any time you have been mis-sold PPI it is unfair so to say that you can claim back unfair bank charges is rather redundant in that most loan protection insurance is unfair. How can an insurance product that provides no cover or at best relatively little cover be considered fair act any time? Needless to say it's probably arguing semantics but you still can claim back unfair bank charges because the government says you can. Perhaps that is the brightest light in this entire mess, this PPI scandal that is infiltrated the lending industry within the past decade.
Some PPI Claim Back Statistics
When filing to claim back unfair bank charges there are some statistics that may help you decide how you should be filing that claim against your lender. Most people choose to use a PPI claims company simply because of these statistics. Did you know that of all the people who are filing claims against mis-sold PPI lenders are only approving roughly 15% of the claims they review. That means that 85% of those people are being denied a refund on mis-sold PPI. What happens to that other 85%? Those people need to file an appeal with the Financial Ombudsman Service who then will most likely approve 90% of the appeals presented to them. In other words, most consumers who file to claim back unfair bank charges are winning either in the initial stages of the claim or in the appeals portion.
If you feel that you have been mis-sold payment protection insurance and would like to claim back unfair bank charges talk to a professional claims management company before filing a claim. You may just find that it is far better to utilize the services of professionals than it is to try to fight for your money back on your own. The PPI Claim Company as a staff of professional claims specialists who can take your call and talk to you about what your options are in filing a claim. The company only operates on a no win no fee basis injure initial consultation is free. To speak with a claims representative call 0207 471 2000.
blog comments powered by