Wednesday, September 7, 2011

How Payment Protection Of Insurance Was A Mis-Sold

More than six years, the demand for insurance protection (IPP) and how it is wrong to sell to customers, a major problem and the research efforts of the PPI has increased dramatically and thousands of customers demand their money by selling insurance paid incorrectly. But how bad is mainly sold PPI, and by whom?

Much of the responsibility for errors from the sale of PPI were (and still can be) one of the banks of the streets surprisingly high. Other leaders of this practice are the smaller companies in the loan and financial intermediaries.

The most common practice of selling insurance, payment protection, if it was simply necessary based on what had to be taken if he had accepted the loan you want. Many consumers believe what they told us "professionals" that you expect and do not question the consequences. So he came to pay thousands of pounds more than they had PPI.

Now there are new rules for competition, the Commission that the State can not sell PPI while the loan is granted. This is a trial period of seven days at a time when the consumer can find a better world, if desired, and the lender can communicate with the consumer. This limits the mis-selling of PPI.

But if PPI is sold over the last six years - with a loan or credit card, for example - and the emotion that was sold incorrectly, it may be possible to apply for payment protection insurance and your money. Apply PPI can do it yourself, or you can contact one of the companies that offer to manage the process for you and for damages, which are much simpler.

You can claim compensation for IPP six years ago, but then there is a deadline and you must act now if you followed the payment protection insurance has been sold recently.
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