Misselling of Payment Protection Insurance
When you get a bank mortgage or some other type of loan in the UK you may be
approached about something called PPI policies. These are insurance policies
meant to protect you if you cannot make your monthly payments for some reason or another.
In the past, some salespeople actually led customers to believe that they would
not be able to obtain the loan unless they signed for one of these PPI policies. However, as a consumer you have a right to refuse a policy such as this. Sadly, most people do not know that they can refuse to purchase a PPI and because of this miselling of payment protection insurance is very common. For some who has been mis sold PPI this can be a real nightmare, not to mention an unnecessary expense. The miselling of payment protection insurance is such a common thing that almost all people who have received financing have had to deal with it. People are spending so much money trying to get out of PPI policies or trying to get refunds on money they have paid in. This is why there are PPI claims companies in place to help a consumer fix any issues they are having as a result of mis sold payment protection.
Hiring a Professional Mediator
Anytime there is an issue in which you have paid out money for something that you
did not need or could not use such as in the case of miselling of payment
protection insurance, it can sometimes be a good idea to go to someone who has more experience in the matter than you do. We have
claims handlers to help you get a refund on the money you have paid into a
policy that was obtained through miselling of payment protection insurance.
Instead of trying to go directly to the lender or financial institution who sold
you the policy, you should hire a mediator to help you solve the matter as
hassle free and painlessly as possible. Many people realize success getting a
full refund or at least a partial refund if they can in fact prove that someone
has practiced miselling of payment protection insurance.
If you can prove that you have a condition or circumstance that automatically
disqualifies you from being covered under a PPI yet have been forced to take one
anyway then you have the right to a full refund.
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