Are you thinking about PPI claims lately? It’s become big time news for a lot of reasons. Many lenders and their telesales representatives have mis-sold payment protection insurance to people who never had a chance of actually claiming it. You read that right — you could have been charged a premium for a service that you could never have used even when you really needed it.
On its face, payment protection insurance — PPI — actually has a real purpose. It’s supposed to keep you from getting behind if you were to get sick or suddenly lose your job. Instead, many claims were rejected, and it caused people — including the Financial Ombudsman Service (FOS) to begin looking into the problem. We’re not talking small amounts either — you could have thousands tucked away in PPI premiums, especially if you’ve had multiple loans over the last 10 years. This is a big problem, and it goes without saying that there’s a lot of money on the table.
What matters here is that you fight back today. Don’t let this just be another article that you read and then ignore, thinking that you’ll never get your money back. There are even PPI solicitors that can help you file your claim. They will work with you on a contingency basis, which means simply that if you don’t win, you’re not going to be hunted down to pay some large bill. Why have that type of financial stress? What will happen is that if the solicitor can indeed get you the compensation you deserve, they will take their fee out of what you get back. That’s only fair, since they helped you get the money.
There is a lot of money as stake when it comes to PPI claims, because you will also be entitled to interest on the money. If you had a loan 10 years ago that had PPI and you’re claiming those premiums now that is actually a rather large amount of money. Wouldn’t it be worth your time to claim that amount back? We definitely think so!
Again, only you can decide what direction you will take when it comes to pursuing PPI issues. However, if you can indeed take matters into your own hands, you definitely should. But don’t let it just stop at you — check your family out and make sure that they also get the PPI claims and interest that they are entitled to!