Many people in the UK are making successful PPI claims, but there are many more still not aware that they may be entitled to ask for compensation. Millions have been affected by the miss selling of payment protection insurance. The reasons vary from case to case, and it is always worth investigating to see if you may have paid out a substantial amount of money which was not necessary, asked for or appropriate.
Common Reasons Why PPI Claims Are Made
Here is a list of some of the most common reasons why people are making claims to help you find discover if you may have good reason for making one of your own.
1. Kept in the dark – Lenders, even top banks in the UK, have in the past not disclosed any information regarding the payment protection insurance.
2. Miss-informed- Sometimes the amount of information that was given during the application process was limited. This means that although clients were made aware of the insurance, they were no fully informed about the cost, what it covers, the frequency and what the insurance was actually for.
3. Customers were not vetted correctly – Not everyone is entitled to the insurance. There are many depending factors which need to be taken into consideration. For example if you were a student, self-employed, retired or working in certain industries you may have been making the payments for a policy that would not pay out when you needed it to.
These are just three examples of why solicitors have been approached and have been successful when it comes to claiming money back from credit card companies, banks and other lenders. If you have any doubts regarding your policy it is best to find out the paperwork over the credit which the insurance is associated with and having a read through. Another important thing to do is take a look at your statements to see if there has been money applied for which has the description PPI or Payment protecting insurance.
If you are in any doubt contact experts who are able to help you discover if you have a good reason to make PPI claims.
