PPI Refunds Is Also Available For Personal Loans

Sometimes borrowers wrongly informed that payment protection insurance is compulsory with personal loans and consumers have to also pay for PPI plans. Some PPI plans were sold to the people who were not qualifies for that.

London, United Kingdom (prHWY.com) June 15, 2012 - UK consumers who have borrowed personal loans in last ten years may have also paying for payment protection insurance. If you have PPI that is beneficial for you then it is good but you must verify that whether it can cover your payments at the time of need or not. If you can claim to get PPI cover with the policy you have then it is quite beneficial for you. But in many cases, it has been noticed that such policies have been wrongly sold in last some years. Such plans often come with personal loans, mortgages and insurance plans. Agents spread mis conceptions about such plans to sell that.

Sometimes borrowers wrongly informed that PPI is compulsory with personal loans and consumers have to also pay for PPI plans. Some PPI plans were sold to the people who were not qualifies for that. All these situations come under the category of Mis Sold PPI. You are entitled to file claims against such unfair trading practice of bank.

PPI refunds is available for any mis sold PPI either it is with loans, mortgages or insurance plans. Financial figures and FOS reports clearly indicate that there are several UK consumers who got back their money with proper PPI claim process. If you are also out of money due to wrong selling of payment protection insurance then you should file PPI claims to get back the amount. For this, you are just required to send PPI claim letter to your lender and you will get compensation letter. If your lender doesn't make any response within eight weeks of sending claim letter then you are free to contact FOS.

Follow the instructions given by them. You will surely win compensation. However, you are required to wait till the end of the process that may take up to 12 months. PPI refunds will make accessible all your amounts that were out with mis sold PPI.

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Tag Words: ppi claims uk, ppi claims, mis sold ppi

Categories: Finance

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