One of the most talked about subjects of late has been the PPI claims saga, and even as we write there are successful claims for mis sold PPI going through the motions. Many people have been paying into a PPI policy without knowing, and others were sold policies that were of no use to them. The scandal has been called the biggest banking scandal in history, and rightfully so. With thousands of potential claimants unaware of the fact they can claim it is important that you understand the situation, so in the following article we will look at the PPI claim process in more detail.
More about PPI Claims
For those who are not sure, PPI stands for payment protection insurance. This is a common form of insurance policy intended to come into play when the policy-holder is made redundant through no fault of their own. The policy would then pay the monthly repayments on a loan, mortgage or other credit agreement as agreed, most likely for one year. The PPI claims scandal arose when a number of borrowers complained to the Office of Fair Trading that they believed they had been mis sold PPI. It was subsequently found that these allegations were true.
How do I Know I Can Make PPI Claims?
When you took out your loan or mortgage you should have been given a full explanation of PPI, and you should also have been given time to investigate the market for a cheaper deal. Instead, the likelihood is you were either sold the policy without explanation or led to believe you needed to take a package deal from the lender. Some customers were even sold policies that would not have been relevant to them as they were either self-employed or retired. If any of these applies to you, you can make mis sold PPI claims for your fees.
Making PPI Claims
Thanks to the publicity given to the saga it has never been easier to make PPI claims, and the best way to ensure a successful claim is to enlist the help of a solicitor with expertise in this area of the law. This will not be as expensive as you believe, and a no win, no fee deal ensures that you will not be asked to pay legal fees in the unlikely event you are not successful. Get your claim underway now with a quick call or online form, and get back the money that you deserve.