Reclaim PPI No Win No Fee
Many lenders in the United Kingdom are forcefully mis-selling PPI (payment protection insurance) policies to unsuspecting subprime borrowers that are more likely to settle for unfair loan terms and conditions. Payment protection insurance is supposed to provide coverage in the event that the borrower is unable to make repayments after losing their job or becoming injured unexpectedly. A policy is mis-sold when a lender fails to notify the borrower of the policy's existence, convinces the borrower that the policy is necessary or mandatory for loan approval, or enrolls the borrower despite their ineligibility. Sadly, more than 85% of PPI policyholders will never have their claims honored, due to the fact that they are ineligible for the policy.
What Is the Fastest Way to File a PPI Claim?
A good PPI claim company can help you reclaim PPI no win no fee - no obligations involved. Utilizing the proven services of a personal PPI claims specialist is the fastest and most effective way to file a PPI claim. In fact, if you were to attempt to file a PPI claim independently, you'd have to conduct hours of research and the process would undoubtedly take weeks longer. In addition, your chances of success would be significantly lower. Many financial authorities, including the FSA (Financial Services Authority) have begun punishing lenders and financial institutions that mis-sell PPI policies by fining them millions of dollars and forcing them to refund all monies spent by borrowers on PPI payments. And you don't have the money to pay for court costs, you can reclaim PPI no win no fee, without taking any more risks with your money.
How Can You Tell If You Have Been Making PPI Payments?
Perhaps even more disheartening is the fact that PPI policies are mis-sold under various names, and almost every financial institution or lender uses a different term or phrase to describe this type of insurance. Since the coverage does not actually provide benefits for the majority of policyholders (due to rampant mis-selling), most people are completely unaware of the existence of the policy until they unsuccessfully attempt to file a claim for PPI after being unable to make their payments. Many lenders will bundle the cost of the PPI policies (which can be as much as £2500 per £10,000 personal loan) with the total loan amount, thereby causing the borrower to pay a little bit towards the policy for each loan repayment. In other words, it is impossible to cancel further PPI payments because the policy is already paid for upon loan signing, and the borrower is simply repaying for the policy and the loan with their monthly repayments. As an example - if you've taken out a £20,000 personal loan, you could receive as much as £5000 with no upfront cost when you reclaim PPI no win no fee.
Why Would a PPI Claim Company Help You Reclaim PPI No Win No Fee?
Nearly 50,000 people successfully reclaimed funds spent on PPI payments in 2010 alone, indicating that courts are ruling in favor of borrowers, not the dishonest lenders that are mis-selling policies. Given such a high chance of success, many PPI claims attorneys are willing to take a case without any upfront payment because they're so confident in their ability to reclaim PPI no win no fee. Best of all, a PPI claims specialist wealth you analyze your case to determine whether or not you have a high chance of filing a successful claim against the dishonest lender, and you'll be able to reclaim PPI no win no fee; if the claim is not honored then the PPI claims company does not get paid.
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