Are You Able To Make PPI Claims for Compensation?

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Research has been made by the Financial Services Authority (FSA) and it has found that millions of cases where ppi may be mis-sold.  Because of the, thousands and thousands of policyholders could probably make ppi claims if they can prove that the policy was mis-sold to them.  The FSA discovered many reasons for ppi being mis-sold.  You could possibly make ppi claims and might be owed thousands of pounds.

 You may be able to make ppi claims if you think and start your claims today.  If there is a mortgage, loan, credit card, store card, or have developed any finance within the last 10 years, there’s a great chance you can make ppi claims as it can be mis-sold to you.  Ppi claims are more common in the country than many people realize.  Around 90% of the people in the uk use a credit card or a loan and there is a chance most of these people can have ppi claims if they have been mis-sold an insurance policy.

 FSA research showed that the primary reason for the mis-selling of ppi was because clients weren’t given the correct information at the time of sale.  In case you are unsure if you have a ppi policy, there are several ways to determine and also to check so as to start out your ppi claims now.  If there is a credit card, you can establish in case you have a ppi policy by checking your monthly statements, as it must be mentioned.  If there is a personal loan, mortgage or any other finance, you should check the original loan agreement but it is probably not so obvious.  If in doubt, contact your lender or bank to find out when you have a policy.  

You could be eligible to make ppi claims in case you didn’t ask for a ppi policy, but it was added to your loan without your knowledge and consent.  If you were informed that ppi was compulsory or that by taking it, you’d have a greater chance of obtaining the loan or finance you required.  If you’re not made aware payment protection was optionally available or that you could purchase cheaper cover elsewhere, then it was mis-sold to you and you can start off your ppi claims because of this.

 If the sales representative of the lender or bank didn’t point out the policy exclusions to you, like the terms of cancelling the cover or significant exclusions such as stress and back problems, then there is a possibility which you can have ppi claims especially if you were unemployed, retired, or self-employed when you got the coverage.  You might make ppi claims because the policy was not suitable cover in your case.

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