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PPI or Payment Protection Insurance, as it is widely known, is perhaps one of the biggest financial frauds to have struck the UK market. The philosophy of a PPI was that it could be sold as a package to a customer, and that it could cover for a person who loses his employment. However, most of these PPI insurances were mis-sold to the customers all around UK. These innocent customers were duped as they were not told the terms and conditions of these PPI in detail. In the very few cases where they were told, the process for claiming the insurance was so tedious that customers tried but failed. And in most of the cases, customers were not even aware that they are eligible for a PPI claims company, but insurance premiums had been deducted from their bank accounts for years. If you have claimed for a loan, made any mortgage payment or any other credit agreement, you might as well be entitled for a claim for a mis-sold Payment Protection Insurance. The average payment for a PPI claim is close to 2750 pounds. The interesting part Is that a recent survey showed that 35-40% of the customers were not aware that they had been sold such a policy. They were sold PPI covers as a package along with the credit card or the loan or the accident cover. As this scam, which has affected thousands of Britons came to light, the duped customers are reaching out to their banks and insurance companies to reclaim their money. Not only are the banks liable to pay the money charged, they also have to return the interest accumulated over the money over the years. Reclaiming your money with the help of experts The entire process of claiming your PPI involves a long process with multiple stage gates. It requires a multi-faceted understanding of insurance and banking. Thus, it makes all the more sense to hire an expert with a proven track PPI record in helping people reclaim their lost money. Thus, it is important to hire the best PPI claims company to keep your money in safe hands. Here are some reasons why you should hire the best PPI Company available in the market. 1. A PPI claim company will help you in recovering the lost money as well the interest accrued over it. 2. They also help you recover the money lost in PPI purchased in mortgage, credit agreement or unemployment benefits 3. It saves the customers from the legal and financial hassles of claiming the PPIs 4. The companies who are involved in PPI claims are experts in the field of legal and financial matters. Thus it makes much more sense to hire these experts 5. The best of PPI claims companies do not charge if you if they fail to help you reclaim your PPI claim. They have a no win no fee policy Thus, when it comes to claiming your mis-sold PPI, you should hire the best PPI claims company with legal and financial experts with proven track records.
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