Are You Sick Of Hearing All the Fuss About Payment Protection Insurance Without Knowing the Facts? W
If you read the papers or watch the TV at all in the UK then chances are you will have seen some coverage of the PPI revolution, and how our government is allowing people who were sold PPI who shouldn't have been, or who weren't told exactly what is PPI and what it meant for them as consumers to reclaim the money that they have paid into the scheme. If you have seen any of the headlines about the mis-selling of PPI, the chances are you are wondering whether or not you have a right to claim with a law firm on your own PPI add on with your mortgage or other loan. Here we take a look at what is PPI, what it means for you and whether you are entitled to claim.
What is Payment Protection Insurance?
Payment Protection Insurance is an add on to lots of credit products, that essentially represents a way you can recoup the money you need to pay as a monthly payment commitment when you take out a mortgage or loan should you lose your job. PPI covers you if you are injured, get a long term illness, or even get made redundant or get fired from your job âEUR" and we all know how much of a threat that is in this economy. This all means that for many consumers, PPI is a good idea. There are, however, a lot of people for whom it adds no value, and these are the people who have good, strong claims against the people who sold them these policies they didn't need.
Who Can't Use a PPI Policy?
People who already had a long standing health condition or injury, or who are self employed or retired, cannot benefit at all from PPI âEUR" they don't need to worry about losing their jobs! Of course, plenty of retired and self employed people have the credentials to take out mortgages and loans, so banks and companies would just throw in the PPI even though it offers no value to these consumers. If you feel like you have been sold PPI you didn't need, then talk to your solicitor âEUR" you may be entitled to compensation. There are many UK people starting compensation cases against companies who have illegitimately sold them PPI. And you can join the fight against this terrible injustice if it has happened to you by talking to a good lawyer.
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What is Payment Protection Insurance?
Payment Protection Insurance is an add on to lots of credit products, that essentially represents a way you can recoup the money you need to pay as a monthly payment commitment when you take out a mortgage or loan should you lose your job. PPI covers you if you are injured, get a long term illness, or even get made redundant or get fired from your job âEUR" and we all know how much of a threat that is in this economy. This all means that for many consumers, PPI is a good idea. There are, however, a lot of people for whom it adds no value, and these are the people who have good, strong claims against the people who sold them these policies they didn't need.
Who Can't Use a PPI Policy?
People who already had a long standing health condition or injury, or who are self employed or retired, cannot benefit at all from PPI âEUR" they don't need to worry about losing their jobs! Of course, plenty of retired and self employed people have the credentials to take out mortgages and loans, so banks and companies would just throw in the PPI even though it offers no value to these consumers. If you feel like you have been sold PPI you didn't need, then talk to your solicitor âEUR" you may be entitled to compensation. There are many UK people starting compensation cases against companies who have illegitimately sold them PPI. And you can join the fight against this terrible injustice if it has happened to you by talking to a good lawyer.
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