Payment protection insurance, otherwise referred to as PPI, is a form of insurance which is offered and can be taken out of any form of loan, such as on a mortgage, a credit card or general bank loan.
No win no fee claims can be made in the area of PPI. Payment Protection Insurance (PPI) is charged by banks and lenders to provide insurance for an individual who takes out a loan, mortgage, credit card or any other form of financial agreement. If this PPI has been mis-sold to an individual then they are entitled to carry out a no win no fees claim.
Mis-sold PPI claims have become increasingly common in today’s environment, and as more customers are made aware of the hidden costs that are associated with it, there are more and more people coming forward who understandably wish to claim back on this frequently unnecessary insurance policy.
Payment Protection Insurance (PPI), also known as loan insurance and debt repayment cover, is a type of insurance taken out on loans of any type, such as mortgages and credit cards. In recent years many customers have become aware that they were mis-sold these policies, and are keen to reclaim the costs associated with them.
It is now a well known fact that in the past banks and lenders have been mis-selling payment protection insurance (PPI). They have been doing so in various different forms.
Payment Protection Insurance (hereafter referred to as PPI) is a form of protection for individuals who take out any form of loan, be it a mortgage or on a credit card. It has recently come to the forefront that many banks’ and lenders’ frequently mis-sold PPI in many forms, claiming it was compulsory or that it would affect ones loan request if they did not also purchase the provided PPI.
Mis-sold PPI claims are becoming increasingly common throughout the UK as more and more people are made aware of the unnecessary reality of this insurance policy. Although a payment protection insurance policy, (or PPI) can be highly useful for many, it has been aggressively sold to many people in order to maximise the profits of insurance providers at the expense of their customers.
The term personal protection insurance or ‘PPI’ for short, refers to a highly controversial form of insurance policy that is designed to cover for any debt that has been left outstanding by the insurance policy holder. Using a personal protection insurance policy, any outstanding debts which may have been incurred during the course of a mortgage or through the use of a credit card, will be paid by the insurance provider.
PPI or Payment Protection Insurance is a controversial money-spinning policy offered by banks and lenders on any type of loan, such as mortgages and credit cards. In recent years it has become common knowledge that these policies have been intentionally mis-sold at the expense of customers using underhanded tactics, such as pressuring customers into accepting the premiums, and even signing customers up without their knowledge or consent.
I have written an article about claims that can be made under or against Payment Protection Insurance otherwise known as PPI, so for reference for particular details on claims look to that. This article aims to give more detail on what PPI is, what it covers, its features and its risks.
If you have been mis-sold payment protection insurance, you may be considering making a claim for PPI compensation. This form of insurance policy is designed to cover debtors in the event that they are unable to meet the required payments for a mortgage, loan or credit card. Typically, this situation would arise as a result of some unforeseen circumstance, such as in the event of an injury, accident or job loss causing a loss of income.
Although payment protection insurance or ‘PPI’ is often a useful necessity in many instances, it is also frequently sold to unwitting people who have no desire or need for it as part of package with loans, mortgages and credit cards. This mis-selling of payment protection insurance by insurance companies has generated a huge profit for financial institutions over a number of years.
The mis-selling of Payment Protection Insurance (PPI) is a scheme that has been going on for several years, and only recently has the Financial Services Authority begun to tighten regulations around this contentious issue. As cases of customers claiming compensation from banks become more widespread, many solicitors now take on PPI cases on a No Win No Fee basis.