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What is PPI?

Posted on September 23rd 2012 by Canary Claims

What is PPIA huge percentage of us over the UK have either been an owner of a credit card or mortgage or taken out a loan or store card. If you are one of these people who have had any type of credit offered to you by specific banks or lenders over the last ten years then you have more than likely been offered or sold payment protection insurance or what you have probably recently heard PPI, which is the same thing but abbreviated.

 So what exactly is PPI?

Banks and lenders have recently lost a huge case against mis selling the PPI because although it sounds rather secure to have insurance on your credit policy. Have you actually used it? Have you actually become unwell enough to be unable to make repayments or had an accident or become unemployed? In fact its very slim that you ever will do especially in the space of time you will or have owned a credit card or had a loan and in the chance that you were unfortunate to become unwell or unemployed it has come to the financial services attention that it is very hard to make a claim on the insurance and this amongst other factor is a prime example how PPI has been mis sold to customers and now you can join the thousands of people who have reclaimed billions of pounds by the banks and original lenders.

 

Now you may find you have had a credit policy and taken out the PPI. So you will have paid or been paying a lot of money to something that isn’t beneficial to you at all. You may have agreed to PPI at the time, but thinking back could it have been mis sold to you? Ok so you haven’t used or needed the insurance, that’s certainly one factor but remember when you discussed PPI? Did you feel pressured at all? Was PPI discussed in full including the process of ever needing to make a claim on the insurance? Did you know PPI wasn’t compulsory? Or has the protection been added to your credit agreement without you even knowing?

 

If any of these sound familiar then there isn’t a better time than any to start a case against being a victim of PPI mis selling. You could be owed thousands of pounds. Imagine how nice that spare money would be.

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Author: Canary Claims
Posted in: PPI, Uncategorized

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