How to Claim PPI Insurance
If you haven't heard about the PPI insurance racket, as it is referred to by the Citizens Advice Bureau, then perhaps you have been out of the UK for the past decade. Although it was a huge newsmaker when the scandal first hit the streets in the early part of the last decade, it is even bigger news now and one of the reasons why so many UK consumers are seeking to understand how to claim PPI insurance back.
What Is PPI and How Can It Be Mis Sold
Let's assume for a moment that you were, indeed, out of the UK for the past ten years or so and haven't heard of payment protection insurance and exactly how it can be mis sold. The first thing you want to know is that it is meant to be a special kind of loan cover that will provide monthly repayments on a loan if you are suddenly without wages due to unemployment or sickness. PPI can be mis sold if the lender doesn't tell you that it has been added to the loan, misrepresented it in some way and also it is considered mis sold if the borrower didn't want it or couldn't use it. For any of those basic reasons PPI can be considered mis sold which would lead to the borrower asking how to claim PPI insurance premiums back.
How Much Does PPI Cost?
This is another reason why so many people file a PPI claim for mis sold cover. The cost of PPI is extremely high and provides very little cover. Generally, payment protection insurance costs between 13% and 56% the total amount of the loan which is unreasonably high, even if there were great benefits attached to the insurance policy. This is the main reason why so many people look for how to claim PPI insurance premiums back because there is no cover as the lender promised there would be in times of need. Less than 13% of all people who file a claim are deemed eligible to file for repayment benefits!
Is There Any Help Out There?
When you finally discover that there is more to it than meets the eye when questioning how to claim PPI insurance back, you may throw up your hands in despair and ask, "Is there any help out there?" You have just sorted through how you were mis sold but now can't, for the life of you, seem to understand how much you have paid in. This is where the claims team at Belmont Thornton, Belmont Thornton can seem like a real life saver. Not only can the claims team help you determine exactly how to claim PPI insurance, they can help you determine how you were mis sold, how much money you should have coming back and then they can file the claim for you. To see just how much help you can get, call 0207 471 2000 to speak with the claims team today. Filing that claim just got easy!
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