The PPI claims saga has been ongoing for several years now, and shows no signs of slowing down. Indeed, more people than ever before are claiming back charges on mis-sold payment protection insurance policies, thanks in no small part to the publicity that has been given to the scandal. With the recent indication from the powers that be that banks would be required to pay back all such charges there has been an influx of fresh claims cases. Could you be one of those people who has a right to claim but is not sure how to go about it? If so you should read on as we will explain all.
The PPI Claims Scandal Explained
Payment protection insurance (PPI) is a simple insurance policy intended as a safety net for people who take out loans, mortgages or any form of credit agreement. The idea is that the PPI policy will keep up the monthly repayments on the loan in the event the holder is made redundant through no fault of their own. The PPI claims scandal erupted when widespread mis-selling of policies was uncovered during an investigation into a series of customer complaints, and there have since been many thousands of successful claimants.
Can I make PPI Claims?
If you have loan as described and have been paying into a PPI policy then it is quite possible you can make a claim. There are several instances of mis-selling, but the most common has been where borrowers were not informed of the right to look around for the best deal, as the regulations demand. If, instead, it was inferred to you that you could only have the loan if you bought the lenders insurance package you can make PPI claims and get back all of the money spent on the policy, plus interest accrued.
How to Claim Back PPI
The best way to make successful PPI claims is to get a solicitor to handle your case, and you may be surprised at how cost effective this will be. Look online for solicitors that specialise in this area of the law and also try and find one offering a no win, no fee deal. This is where you pay only if you are successful, so no massive bill if you do not get a pay-out. You also have the peace of mind of a professional doing the job for you, so why not get online and get your claim under way right now? Visit http://www.rymclaims.co.uk