Mis Sold PPI - Free Guide to readers

Today, there are thousands of people who have taken out mortgages, personal loans, store and credit cards with payment protection insurance (PPI) that are either not needed or are charging too much compared to the standard rates. The courts in the UK have ruled that many of these banks and lending institutions, however getting a claim to file for lost monies due to PPI overcharging or being mis sold PPI is another matter entirely. While the government has set up a system to allocate funds, obtaining the money goes through a typical bureaucratic system that many people either do not fully understand or wind up filing the wrong paperwork or entering the wrong information and then are denied the funds that they are rightfully owed.

Generally speaking, if you feel that you have been mis sold PPI or have the right to reclaim PPI overcharges, you should seek professional help that is experienced and skilled in obtaining the funds that are rightfully yours. However, before you start that process you should take a few minutes to gather the appropriate paperwork that constituted your loan, store or credit card contract and look quickly for the following signs that you might have been mis sold PPI. Here are some of the common mis sold PPI reasons.

You were told PPI was mandatory: This is a fairly common one where the lender told you when the loan was drafted that PPI was required. A quick check can show whether it was indeed required or not.

PPI added without your knowledge: Another fairly common practice is the adding of PPI to your loan without your knowledge. Such payments are often hidden in the charges, but usually appear on the breakdown of your monthly bill.

You were informed that PPI could only be purchase at that location with the loan: That is a misrepresentation as PPI can be purchased from other sources.

Paid back loan in full, but was not refunded PPI premiums: You should have received a payback of your PPI if you never used it and fully paid off the loan.

Not asked if other insurance covered the loan: Many people have other types of insurance that could cover the loan in the same manner as the PPI.

PPI that did not match the value or duration of the loan: Another very common reason to reclaim PPI, especially if you tried to use the PPI and were denied by the insurance company for that reason.

Also, if you were led to believe that PPI would improve your credit, if you were self-employed or unemployed when you received the loan or were not informed of policy exclusions that might affect them before the PPI was sold. If you have experienced these conditions, then you are most likely qualified to reclaim PPI payments even if you have fully paid off your loan or if you used the payment protection.

The professional, courteous service of experts who routinely file claims for PPI overpayments can help you by filing the paperwork and giving you the best chance to reclaim PPI. They charge nothing for their services until they get your money back.