We recently stumbled upon a very interesting website. The company behind the website is designed to deal with PPI claims on behalf of credit card holders and loan borrowers in the United Kingdom who have been mis sold a PPI policy. PPI simply stands for payment protection insurance; a type of policy with the purpose of protecting the customers debt repayment if they become unable to work because of accident, illness, or in some cases, redundancy.
Whilst payment protection insurance may sound like something that could be beneficial there are several flaws with this type of policy. For a start, this type of policy is frequently mis sold. This happens for many reasons, the main one being that the policy sold to the customer is not actually suitable to them. Fortunately, you can claim for compensation, and the payouts are usually quite generous. It is said that millions of these policies are mis sold every year, but not everyone is aware that they can put in a claim.
Another common occurrence is when a policy is sold, but the customer is not ware that they are paying for it. This most commonly happens when a policy is sold alongside a loan or a credit card. Another thing that happens frequently is the customer not being fully aware of certain exclusions within a PPI policy that could affect them in a negative manner. Do any of these things sound familiar to you? If the answer is yes then you have every reason to investigate further and put in a claim.
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