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Refund and ppi claims: detailed analysis by james bond
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Refund and ppi claims: detailed analysis |
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Business,Finance & Investment
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As the name suggests PPI is an acronym for protection payment insurance which provides comprehensive coverage against being unable to pay due to illness or unemployment, the mortgage or the pending credit card bills. It is true that the majority PPI policies sold over the past 10 years are MIS-sold because lenders and their agents became quite pushy to market the schemes with healthy commissions being the driving force as opposed to good customer service. Sales professionals were adamant to sell the PPI packages to the customers by making tall claims which were far removed from reality. It is now public knowledge that Refunds and ppi claims are available where ppi was clearly mis-sold and that thay can get a refund not only on an active loan but but cleared loans too. People are doubtful about reclaiming the funds because of the fear they might get penalised by the lender, particularly if its their bank, once the amount is reimbursed. The banking ombudsman stipulates that a customer should not close the account with the current provider while staking their ppi claim.. If an individual holds different policies which fall under the purview of claims, he can redeem ppi by applying separately for each of the policies. People can also avail PPI claims after repaying loans and credit card expenses; however the primary criteria must be the MIS-selling of insurance to the customers. By reclaiming PPI one can obtain requisite reduction in the debt owed to the lenders by a certain amount. Before claiming PPI, one must analyse lenders and their business domain. People who are holding loans from the vehicle leasing companies may find it difficult to reclaim because the organisations do not come under the jurisdiction of the ombudsman. They can contest the claim in the courts and still redeem the PPI from the lender. If the financial institution is sold off to another company, the new owner is liable to pay back the PPI amount to the customers. The rules and guidelines about the PPI claims on insurances are defined with absolute clarity. Everyday millions of people claim refunds for mis sold ppi if you are one of those customers who are looking to action a mis sold PPI refund claim contact the lender involved or a reputable independent claim agency to get your cash back as soon as possible.
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mis sold ppi, ppi claim,
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