Have you been mis sold PPI insurance? If you are not sure here are a few of the most common circumstances surrounding most of the successful claims which are being made against the banks and the lenders who have treated their clients unfairly over the last ten years. By looking at the most common reasons why people are winning their PPI claims it can help to determine whether you have a strong case and could be one of the millions of UK citizens who qualify for getting their money back.
Reasons Why You Could Make a Claim
The following reasons are some of the most common reasons why you may be able to make a mis sold PPI insurance claim. However, if you do not think your circumstances are listed it is still worth examining your case further.
1. Your Circumstances were not taken into consideration by the lenders. There are many reasons why you may not have been entitled to the insurance in the first place. This would mean that when you came to make a claim on the insurance you would not have received a pay-out. These circumstances are often related to your employment status or health conditions.
2. The lenders had a duty to explain the details of the payment protection insurance to you before you agreed. Some lenders failed to even mention the insurance and customers were left making payments without having discussed the purpose of the PPI. Others were informed about it but the costs and the terms were not properly disclosed. So people were taking out loans for the insurance without knowing that the loan was required in the first place.
3. Other lenders were very sly when they mis sold PPI insurance. Instead of letting their customers know that they had a choice in the decision, many felt that they had to take it or they would not qualify for the loan, credit card or the mortgage they were applying for.
4. Many individuals who took out the insurance were not aware that their policy would not cover the duration of the loan. Some customers also found that the entire amount of the loan was not included in the policy.
If you are unsure if you have a case contact mis sold PPI insurance claims solicitors. They will be able to discover if you have good reason to make a claim and let you know if they think you stand a chance to be compensated.
