When To Ask Your Bank For Ppi Claims

By Author: Jasmine chand
Total Articles: 5
Comment this article

Payment protection insurance is a beneficial tool for the loan buyers in order to protect their loan payments in dire times. The insurance is aimed at relieving the loan customers from the stress of falling sick or being jobless all of a sudden and unable to make loan repayments on the due dates. If any unexpected incident happens to the customers, the insurance pays of the loan installments for a year.

However, banks have been misusing this insurance policy to gain easy profits. They mis sold ppi to millions of loan and credit card customers and took advantage of their urgent need for loans. This is the reason that increasing numbers of customers have filed cases for PPI claims with the banks. The law says that the banks must properly discuss the need for payment protection insurance with the customers. Then, they should leave it to the loan clients if they want to have the insurance or not.

In many such cases, the banks added the insurance payments to the loan schemes without telling the customers about it. It is only after some scrutiny that the loan customers come to know that they were paying for the insurance. ...
... Many customers already had one such insurance and banks forced them to buy another one along with the loan. This is a mis-sold ppi and you can have PPI refund from the bank.

You can ask the PPI claims just when you remember that the bank did not discuss the payment protection insurance with you in detail. The bank did not enquire about your employment status, age and medical condition before selling you the policy.

If the bank told that you could have the loan only with payment protection insurance, then is an obvious mis selling of the policy. You never wanted to have the policy but you are undesirably paying for the insurance premiums.

When you know that the bank mis sold ppi to you, your next step should be to file complain with the bank. An online claims expert is the right person. Instead of approaching the bank personally, the expert will take care of all your legal issues. Banks take these claims experts seriously. Your chances of getting PPI refunds shortly are higher with the claims sites. These sites operate on no-win-no-fee basis. This means that you do not have to spend any money until you win the PPI claims.

About the Author

You can find out more about PPI Claims, PPI Claim, PPI Claim Calculator and many more at Guardian PPI Claims.