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Claiming Back Insurance on Loans

It really is a shame that so many UK consumers need to waste their time and effort claiming back insurance on loans but that is what happens when an entire industry has become corrupt. This is not to say that lenders have been the most honest people of the world but there has been nothing as scandalous as the recent payment protection insurance scam they have been inflicting on consumers for more than a decade. Misselling any product is bad and not but when mis-selling a product that is so much more expensive than it could ever be worth, the deception goes beyond words. Luckily, the UK government as mandated that claiming back bank charges as a result of mis-sold PPI is not only legal it is also the right of every consumer who has been scammed.

What Ever Happened to Good Old-Fashioned Ethics?

As mentioned above, most of us know that lenders are out to make money in almost any way they can, but it is beyond comprehension that they could go to such extremes by scamming us out of as much as 50 or 60% above the amount we intended to borrow. Every generation will say they don't know what the world is coming to but there probably wasn't another generation ever in the history of lending that could say they have seen such wide spread dishonesty. Claiming back insurance on loans is important but what is even more important is putting a stop to this practice once and for all. Whatever happened to good old-fashioned ethics? This surely is a question lenders cannot answer as they are still denying us our rights by refusing to honour claims being submitted to them.

Is Claiming Back Insurance on Loans Enough?

Sometimes UK consumers are becoming so enraged by the extent at which they have been robbed of their hard or and money that they want to know if claiming back insurance on loans is enough. As a matter of fact the one thing it can do is give you back your money however is claiming back insurance on loans enough? Probably not! Something needs to be done to put a stop to this illegal practice once and for all. Even though lenders know that borrowers have the right to claim back PPI which was mis-sold to them they continue to mis-sell PPI to the next consumer who walks in the door. Many believe that stricter penalties must be imposed on lenders who insist upon perpetuating the scam. Government has already imposed fines on many of these lenders but it just doesn't seem to be enough. In any case, eventually they will have paid enough money in compensatory damages that they will surely see that it is not in their best interest to continue misselling payment protection insurance.

If you have been mis-sold payment protection insurance then claiming back insurance on loans is probably what you are after at this moment in time. First get your money back then you can put your efforts into stopping this practice once and for all.

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