Payment Protection Clinic
Many people in the UK suspect they may have been mis-sold a payment protection
insurance policy, but many people are still unsure how to make a claim or where
to turn for information.
Since 2006 more than 1.5 million people have submitted a complaint
regarding their payment protection insurance policy and hundreds of millions of
pounds have been paid out in compensation. The issue of mis-selling was exposed
by the Financial Services Authority who found widespread failings throughout the
lending world. Some of the issues uncovered included policies being added
without a customer's knowledge and failure to explain the full terms and
conditions of the cover. The FSA also highlighted the fact many lenders have not
taken adequate measures to protect customer's from being mis-sold an unsuitable
policy. For more information regarding the different types of mis-sale, you may
find it useful to contact a payment protection clinic.
If you are considering reclaiming PPI
one of your first questions is likely to be 'how much am I entitled to claim?'
The level of compensation you may be entitled to will depend on the size and age
of your policy and what type of debt it was attached to. Credit card PPI, for
instance, is usually charged on a monthly basis and the cost relates directly to
your outstanding balance. Loan PPI, on the other hand, is usually applied as an
upfront fee at the start of the loan and costs in the region of 13-25% of the
base loan value. If it is shown that your policy was mis-sold you can usually
expect to receive a full refund of premiums plus 8% interest. For more
information regarding refunds you can contact a payment protection clinic.
Getting help making a claim
If you require assistance making a claim for mis-selling or recovering unfair bank charges
we may be able to help. We are an independant claims company who specialise in
helping customers who have been mis-sold payment protection insurance or who
have been charged unfair credit card charges. To find out more about making a
claim or about payment protection clinics call 0207 471 2000 and speak to
a member of our team.
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