Payment Protection Insurance: What You Need To Know

PaymentProtection Insurance, generally known as PPI, has become a very controversial financial product that was widely sold during the early twenty-first century, although it is now less widespread. This protects your loan status in the event that you are unable to make a payment. This type of insurance covers mortgage, rent, and other monthly payments instead of just a single loan. PPI benefits the lender, not the consumer. Fully 85% of these payment protection insurance claims never pay out. The consumer must submit ppi claims within a certain time frame after the triggering event and then wait 3-6 months for the policy to become active.

It becomes difficult for one to determine whether the PPI is right for them or not as this insurance is different from the other insurance policies. In other types of insurance, you will find some claims rejected and some claims accepted and this is common, but not in PPI. There are several ways that PPI was regarded to have been mis sold. According to the FSA (Financial Services Authority) 75%-90% of both single and regular premium PPI policies may have been mis-sold in the UK. The Mis Sold PPI policy scandal arose from the banks passion for profits, there was simply too much money to be made from selling a policy alongside a loan, secured loan or hire purchase agreement, and to a certain degree credit or store cards. There are two main reasons why you should take your case to court if you have been mis sold PPI. Firstly, you should press forward to claim back that which was wrongly taken from you and see justice done. Secondly, you should join the many people who have successfully won PPI refunds to declare to the guilty party that they cannot get away with such corrupt action. First of all, you should consult with a PPI claim expert. They can help give you the peace of mind necessary for any legal action that may be viable.

Therefore seek out your documents, and be sure you check out whether you've been mis sold PPI so you can receive a slice of the compensation that is certainly attributed to you throughout this window of opportunity to claim. Today there are several online firms available who specialise in PPI and its consequences. These professionals are skilled at fighting for your right to receive the payments that you deserve.  Reclaim PPI today can give you extra money to do what you wish with.  There's really no better reason than that to look into filing a claim.

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Getting The Debt Advice You Need

You're in debt. You need expert debt advice and help. Where do you go and who can you trust? There are places that offer debt advice. They can be found online or right in your community. They will offer a variety of solutions to your debt problems. The random lifestyle, unplanned budget and increasing needs often surpasses a person's earning against his expenditure. Such situations make a person debt prone leading to the burden of multiple loans. The debt advice is only the beginning of the road to recovery. Hopefully the free debt advice will be able to help you start a new way of living.

Some of the techniques that are included in the process of debt advice are:

 Debt management - help consumers with repayments that have become too large to handle on their own.

2.       Debt consolidation - A method of replacing multiple debts with one loan. 

3.       Debt negotiation - a process wherein an individual or entity suffering from severe debt issues negotiates with their lender, with the end goal of settling their debt for less than the original amount

These techniques aim to provide answers to the people who are either struggling with their debts or want a better way to deal with the accumulated debts.

The internet is a good place where one can find numerous websites dedicated to financial advice. It is a reliable free source for gaining useful information. Simply type the words "debt advice" into the internet search bar, hit the search button and within a matter of a few seconds, thousands of doors will open to give you free and useful debt advice.

If you need urgent debt help or free debt advice in the UK then there are a number of options available to you:

1.       The Citizens Advice Bureau.

2.       The Consumer Credit Counseling Service (CCCS)

3.       A solicitor.

4.       A debt management company.

In other countries, options will vary. It's a good idea to seek advice as soon as your finances start to become unmanageable. Debt advice can range from tips on how to budget more effectively to guidance on negotiating with your creditors. The right solution could help you reduce the amount you're spending each month on payments to your unsecured debts.

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How To Reclaim Your Mis Sold PPI?

Over the last ten years, PPI claims have been big news. Loan and credit card providers have routinely mis sold PPI to those for whom the insurance policy is inappropriate.  Payment Protection Insurance or PPI is an insurance policy usually taken out alongside mortgages, personal loans, credit cards or finance for high value products. Payment Protection Insurance (PPI) can also be known as Accident, Sickness and Unemployment cover (ASU), Life & Accident, Sickness and Unemployment cover, Mortgage Payment Protection Insurance, Personal Loan Protection or Credit Card Repayment Protection. PPI is optional, it is never mandatory, if you were told you had to take Payment Protection Insurance, this is wrong, and you may be compensated. The FSA has stated that lenders have to justify why single payment policies are suitable for clients. Were you aware of the method of paying for your PPI? If not, it is possible that you have been the victim of a mis-sale.

The problem with PPI is that it is not suitable cover for everybody. If you are unemployed, retired, self-employed or have an illness that could stop you from working in the future, PPI will not cover you, however this didn't stop cases of mis sold PPI taking place. Mis sold PPI is common due to the fact that the lender can make a large commission from selling it. How do you know if you have been Mis sold PPI and therefore entitled to reclaim PPI payments? To check to see if you took this out then find your loan agreement or credit card statement and see if it includes PPI.

Mis sold Payment protection insurance occurs when the customer isn’t fully informed of their rights, and asked the proper questioning as to whether they need Payment Protection Insurance during the sales process. To reclaim PPI it is important to establish whether you were originally mis sold to.  If you are worried that you have been mis sold PPI, you can seek out help from a number of online companies to help with your Payment Protection Insurance claims. Today there are several online firms available who specialise in PPI and its consequences. A good PPI claim enables consumers to quickly and easily obtain a way to make payments on their loan in the event that they are not able to meet the financial obligation. However in many cases PPI claims were rejected by insurance companies for various reasons, leaving the consumer out of pocket and struggling to their meet monthly commitments.

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