Imagine a few years ago you took out a personal loan to increase the size of your home with an extension, or to finance a new car, or redecoration project, but didn’t realise at the time that you’ve been paying way over the odds for payment protection insurance. There’s a big rise in loan protection claims this year so what can you do about it now?
Don‘t Forget to Un-check the Check Boxes – Small Print is Important
While you’re sitting in the loan department, being charmed by the lender into signing up for extortionate monthly repayment rates, you simply didn’t notice the pre-ticked checkbox giving the lender permission to add payment protection premiums on top of your agreed loan amount, and he didn’t draw your attention to it either. If this is the case, then you have probably been mis sold payment protection insurance and are entitled to a refund, and possibly compensation too. Get started on your loan protection claims today to get the best result.
Claim Cash Back – Loan Protection Claims
Unfortunately in many cases, if you ended up having to claim on the insurance, due to redundancy or ill health, it may not have even covered the total loan amount. This could have landed you in severe debt. In reality this scenario has happened to many hundreds of people in the UK in the last few years, and because of the huge rise in loan protection claims against lenders about PPI, the financial organisations in charge of regulating lenders has banned the selling of PPI at the same time as arranging loans completely. They must leave at least 7 days between the loan agreement being signed and the offer of accompanying payment protection insurance policy.
Complaints Set to Rise this Year, and Next
The Financial Ombudsman Service has already seen a massive increase in complaints and loan protection claims because of the mis selling of PPI with 13,500 complaints in the first quarter of this year alone. This figure is predicted to increase next year too as more and more people become aware of the rip off policies. Because the media has brought the issue to the attention of the public, it’s only now that people are double-checking their policies to see whether they too, were missold payment protection insurance at the same time as their loans and can now make loan protection claims..
PPI Return Working for you - Loan Protection Claims
PPI Return are a specialist firm of solicitors who are experienced in reclaiming payment protection premiums for those who feel they have been missold loan insurance. Call one of our advisors free on 0800 877 8888 to get your loan protection claims on the first rung of the ladder. We’re a no win no fee the company with your best interests at heart.