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Mis Sold PPI - Reclaim Your Investment

This article is written for public benefits. If you read this article, it will help you to understand the problem of payment protection insurance in uk.

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For thousands of people across the UK, they are currently paying more on their major loans as well as store and credit cards if they have payment protection insurance (PPI) added. While PPI was necessary for many of their loans, the recent scandal of banks and lending institutions overcharging for payment protection, even adding it when it was not necessary has led the government to form a reimbursement program that allows borrowers to reclaim PPI payments if they were mis sold PPI, overcharged or mis-informed about what PPI meant for their loan.

Understanding if you were mis sold PPI starts with checking out your loan application and your most recent monthly bill statement. These forms will indicate if you have payment protection that has been added to your loan. If so, were you required to have PPI? Are the rates you are being charged the standard across all loans or are they more expensive? Does the terms and length of the PPI match your loan?

If you are unsure about the answers to any of these questions, itís well worth it to take your loan application form and monthly loan bill to the experts who have handled hundreds of cases to reclaim PPI payments. The government reimbursement process is a complicated one that requires having the right type of forms and following the process precisely in order to get the money you are owed back to you. Having professionals doing the work for you means you maximize your chances at getting back the money that was taken from you when you were Mis Sold PPI.

One example of how many banks and lending institutions mis sold PPI was to those who were self employed. You may have been mis sold PPI if you fall under one or more of the following conditions.

-†††††† Ready to Retire

-†††††† Working Part Time

-†††††† You are a temporary contractor

-†††††† You were going on maternity leave

-†††††† Youíre job was due to be made redundant

If you fall under any of those conditions, you may have been mis sold PPI and are eligible to reclaim PPI monies that you have paid into the system even if you used the PPI to cover some of your loan payments.

Sadly, thousands of UK residents do not take this step because even if they feel that they are owed money by the banks and lending institutions that they donít want to pay anymore unless they are guaranteed a return. Fortunately, these professionals do not charge for their services until you reclaim PPI funds that you have paid. When that happens they take a small percentage of the money that is owed to you. So you are at no risk whatsoever in terms of spending any money to find out if you qualify to Reclaim PPI money that you have paid into the system.

When you consider that the average borrower has reclaimed £2,400 of their money back, in some cases up to £7,000 or more it behooves you to take the first step and call the professionals experienced in reclaim PPI funds for you and your family.

Source: Free Articles from ArticlesFactory.com

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