Is PPI a Helpful Type of Insurance of Was It Created Solely to Be Mis-Sold?

20 March of 2015

Payment protection insurance has been around since the 1990s and has actually helped many people regardless of the reputation that it now has. The insurance was first released back in the 1990s in order to help people who might have struggled to pay back their debts in the event of an accident such as them losing their jobs or coming down with an illness.

Throughout this article we’ll be giving you some more details on PPI and how it can affect you, what you should look out for when dealing with banks in the future and everything else that you might need to know! It’s important to digest this information as it could save you a lot of money and a lot of frustration in the long-term.

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General Information

The amount of people who have been impacted because of this recent PPI scandal is truly staggering, it is such a large amount and it’s even worse that it happened at the heigh of the depression. Many people are now working extremely hard in order to pay off their debts, which could have been paid off by not if it wasn’t for the payment protection insurance which many people didn’t even need in the first place!

It should also be noted that if you are at any point unhappy with the information that you have received from your bank or lender or they simply aren’t treating you as well as you should be treated then you can always contact the Financial Ombudsman Service (also known as the FOS), who will be able to monitor your case closely and inform your bank or lender if they are in breach of any rules and regulations.

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Making Your Claim

If you are still yet to make your claim then don’t worry – there are many people who are in the exact same position as you are! There are a number of reasons as to why someone might not have filed their claim yet, the most popular reason being that they simply don’t understand the process that they must have to go through in order to file their claim properly and receive compensation.

This whole process can pretty much be negated however, all you have to do is go through a claims management company. Even though the company will take a small commission out of your compensation, it will definitely be worth it solely because of the time and ease in which you will be able to file your claim.

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Making a claim doesn’t need to be difficult, the services of a ppi claims firm can expedite the process making your claims slicker and more easily managed.

Finding help with your claim is very easy, firms such as these can help you get the process completed without you having to lift a finger, trained staff are available for you to hand the process over to, and their expertise will be useful in maximising the chances of success.


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