Payment Protection Insurance Totally Mis sold

10/08/2010 by Bradders.

Controversy still reigns over payment protection insurance the multi billion pound industry that the financial institutions created over the last two decades. The only reason that it has achieved such a high profile is mainly due to the overzealous sales advisers using unethical procedures to increase their already massive profits. This has almost created a byword for bad practice and this activity is known as missold ppi

In countless cases, the finance companies would lie and explain to the potential loan borrower that they would not be granted a loan without getting the PPI. This was a fabrication and a measure to deceive. In these instances, the borrowers that fell for this falsity to buy the PPI were charged a much higher premiums than if they had purchased this insurance on their own volition.In some instances borrowers may not even realize they were sold a payment protection insurance policy. It makes perfect sense if you took out a loan or mortgage and were never offered PPI to check and see if you are paying for a policy you never agreed too!Below is a list of statements to ascertain if you were potentially missold ppi.·     

Did the lending company tell you the policy were optional, or did they suggest that the PPI cover was required in order to receive the loan?

Did the lending company ask about your employment situation and whether you had any pre-existing medical conditions?

Did the lender allow you to check the policy terms and conditions prior to the agreement?

Did the lending company ask you if you owned any other insurance that may cover such risks?

Were you sold PPI while self-employed?

Were you told of the limitations and just what pre-existing conditions would not be covered?

Did the lending company advise you on the total APR would be of your loan with PPI included?

Lastly, if you did purchase payment protection insurance and tried to cancel it, were you denied?If any of these statements refer to your situation it is probable that you may have a case to file a ppi claim. There are many ways one can do this. It is possible to contact specialists in the field that may help you with the claim.

www.missoldppi.net

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