“payment Protection Insurance – Was Yours Miss-sold?”

Many responsible people who apply to take out a loan or credit card would probably like to have some sort of contingency plan in case they are unable to make payments in the future due to a loss of income. Many loan and credit card applicants are instantly given peace of mind by the friendly sales people who are only too happy to ease their worries by offering them insurance in case of redundancy, accident or sickness. Known as payment protection insurance, this type of cover will ensure that a client’s credit card and loan repayments are serviced in case one of the above factors prevents them from working. It’s a good insurance to have, and when sold properly it benefits both the client who has their worries about future payments eased, and the company who earn money from the sale of the Payment Protection Insurance.

However, it has recently come to light that many companies who offer payment protection insurance alongside their financial products may not have been selling it in the most ethical manner. Reports have identified pressure selling tactics employed by commission hungry sales people in order to sell the insurance to as many people as possible, whether or not they asked for it or needed it.Such high pressure selling tactics include telling people they had more chance of being accepted for the loan or credit card if they took out the payment protection insurance. This is simply not true and the bank’s lending criteria will not be influenced by whether the client wanted PPI or not. If a person was told that they could not be accepted for the loan or card without payment protection insurance, or if they had a better chance of being accepted if they took the PPI, then this is miss-selling.

Other examples of miss-selling that have been identified include the sale of payment protection insurance to self employed people – even though many of the policies exclude the self employed from making a claim! Also, clients should be made aware that it’s possible to go elsewhere to purchase the same cover but this information has rarely been passed on.If you feel that you may have been miss-sold payment protection insurance in any way, then the good news is that UK Money Solutions can claim this back for you. They do not charge upfront fees, the average payout is over two thousand pounds, and if your lender refuses to refund you then UK Money Solutions will vigorously pursue you claim and take it all the way to the Ombudsman if necessary. Simply call free on 08000 748 059 to make your claim to get your money back.

By: Tina Hope

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Claim payment protection insurance today with Credit-card-claims.co.uk and you know immediately if you have a valid claim. If you don't claim payment protection insurance, you lose - they win! You could be owed thousands of pounds.