Friday 31 August 2012

Hiring PPI Claims Company For Reclaiming Mis-Sold Policies.

There are many types of insurance policies and a layman may not be able to differentiate between them. But don’t fret. Help is at hand.

Payment protection insurance, popularly abbreviated as PPI is a sort of insurance policy that covers the liability of a debtor in case he fails to make his payments in time. These policies are issued along with insurance policies as well as loans and the debtor or the policy holder is liable to pay for maintaining their PPI policy.  However, the borrower or the policy holder can exercise their right to cancel this type of policy by requesting for a policy claim.

Nowadays these claims are getting more and more common. Although these polices were considered as a good option when they were newly introduced, people soon realized the futility attached with the whole scheme.  Policy holders everywhere are filing lawsuits for exempting their insurance covers and loans from this policy.  This has given rise to PPI Claims Company that deal with these lawsuits on behalf of the debtors or insurance holders.

A PPI Claims Company helps people in canceling their policy and thereby entitling them to receive the sum they spent on purchasing as well as maintaining their Payment Protection Insurance policy.  These claims are of different types and the rules and regulations associated with them tend to vary depending on the financial agreement originally signed between the borrower and the financial company.  An insurance claims company can help their customers to reclaim payment protection insurance without sustaining much loses.

Mis-sold PPI policies are easier to handle when it comes to reclaiming them.  As the name suggests, a Mis-Sold is a policy that is thrust on a customer without his knowledge.  There had been several cases where banks and financial institutes have tricked their customers to pay for the policies without their written consent.  Customers approach for these claims after paying for it for several months.  Some insurance companies or financial lenders cancel the insurance policy and refund the claim amount to avoid legal complications. However, this doesn’t happen so in case of all the insurance claims made by innocent customers.  This is where a PPI claims company has to step in.

In order to reclaim payment protection insurance amount the customer has to prove that he was unaware about the existence of such a policy at the time of availing the financial service offered by the company.  If the customer cannot prove that he was subjected to a Mis-sold PPI, he might not be entitled to receive the money he spent on maintaining the policy so far. However, even in such a case there are provisions to cancel the existing claim and thereby get an exemption from paying for the policy in future. Hiring a legal firm or a PPI claims company is the easiest way to handle a complex insurance claim. The entire procedure involves several legal proceedings and a customer cannot pull it off without getting any assistance from a lawyer.  Thus hire one today for speedy results.

Wednesday 22 August 2012

Payment Protection Insurance Claim Puts Back The Smile On Many Faces

The PPI scheme is an excellent way to cover your loans and it is known as a payment protection insurance. In case you owe a loan payment and are afflicted with an illness or are having issues regarding your employment, then the Payment protection insurance claim can be surely looked upon for adjusting the same. People who have met with a disability or an accident can also use the merit of this scheme. However it does not cover any kind of psychosomatic issues or disorders related to tension. This is a payment protection plan that helps you during an emergency.

The Payment protection insurance claim has a few stipulations and you can inquire about the same to get to know the details. Usually it comes with a time frame and also includes mortgage cover. The scheme also covers credit card payments and hence is popular among many people. The scheme protects the payment of any kind of loan, which the borrower is not able to pay due to a certain health or situational condition. Buying a PPI surely helps you get more peace of mind and stability in your life. Depending on age and health and other stipulated parameters, the premium varies.

Taking advantage of the fact that the future is about uncertainty, many borrowers face the problem related to Mis sold PPI. Many banks sell PPI along with a loan scheme which is not quite understood by the borrower. Despite the financial ability of the borrower to pay back being strong, the tendency to accept such plans becomes a factor for many uninformed buyers. It is best to be informed about such schemes, so that you are aware of what is in for you, while you are seeking a credit card or an overdraft. The idea given is that having a PPI makes you more worthy about a loan approval and hence many people are gullible about the same.

Payment protection insurance claim can be sought once you are aware about the claim policy. With new laws into force, one can now claim the mis-sold PPI and avail of the benefit. Matters of money have to be attended practically and hence it is good to have a proper understanding and claiming PPI means that you are doing what is rightful. Moreover, a claim that was sold to you due to your insufficient knowledge is not justified. You can use the money from claims to settle other personal loans or adjust your card payments. Plan a holiday or  buy a utility item with the money.

Once a person realizes that the Mis sold PPI is not justified, he can approach the bank and get a claim form filled. The matter is not complex and there is no hassle at all. Though every bank will have its own set of operating procedures, it is so very justified to have your money back. The banks are now letting people use the claim and arranging for easy adherence. There are new formulated policies to ensure that people are not subjected to Mis sold PPI and is a relief to many.