You won’t be over the moon when you learn about how much money could have potentially been stolen from you by the bank who sold you PPI alongside your credit card, loan, or mortgage. You know you would really want to reclaim it but you’re taken aback by your own doubts as to how much trouble it would give you by just making that. Well, you can’t leave it out just like that. It shouldn’t be any of your options as of now.
If you look at it closely you could have been tricked. This whole PPI thing has been a mess for several years now and you could have been any other person who became a victim to the massive mis-selling of the policy. The truth is there should have been nothing wrong with an insurance policy like that. It’s meant to help you with your repayments if you suddenly become unable to because you got sick, had an accident, or got fired. What made it totally wrong and unlawful was that the banks and other sellers found a way to rip people off their money by shoving the product down their throats, sans information – no nothing.
And if you are sure that it happened to you – being wrongly signed up to PPI, here’s your chance to make things right and get that money back. You’ve actually got options of either seeking an expert assistance like a solicitor or an insurance specialist to work out a PPI claim or you can do it yourself given the information you’re about to get from this bit.
First off, you need to know how much you’ve roughly paid to PPI and for how long. That would also state the obvious, that you’ve had for some time now. The thing about PPI is that it does not necessarily appear in the paperwork as it is. It’s sometimes labelled ASU cover, Loan Repayment Care, Cardholder Repayment Protection, Mortgage Payment Protection, and the likes. You may need to inspect your documents carefully and any reference to the policy.
Next thing you need to do is to recall how it was mis-sold to you. There are a few things that could have happened to you. Have a close look at the situations below. [Read more…]