Everything You Need To Know About Mis-sold PPI
Payment protection insurance (PPI) was created with the intention of cushioning financial customers from unfortunate events. However, some financial institutions took advantage of this policy. As such, most people in the UK have been paying for PPI policies they do not need or mis-sold PPI. Not just that, a good number of them are not aware that they can get back a substantial amount of their premiums and the interests earned. In this regard, this write-up intends to provide you with some ideas on making egg ppi claim or any other mis-sold PPI.
Most people are not aware that PPI has been mis-sold to them. First, you need to understand what the term mis-sold represents in this context. Ideally, its buying PPI without knowing or paying for it whereas you cannot benefit from it. As such, a PPI claims company can help you make this determination. There will also help you identify other mis-sold policies, which can improve the amount of compensation received.
PPI claims have been in the news for some time. As such, there is a real cause of concern whether you can still get your money back after all these years. Well, you might have heard that the limit for filing a claim is six years. However, someone with their loan documents intact can still claim after this period elapses. To make things better, most PPI claims company can help you get your documents for you before filing the claim.
When it comes to receiving your claims, things can be somewhat different. This is attributed to the fact that each claim is unique and different lenders handle these claims differently. You are entitled to receive the full amount and the interest earned if your application is successful. If the loan has been completed, you are eligible for cash payments. Those currently servicing their loan you amount will be reduced accordingly.
Making a claim
When it comes to making a claim, you have the option to do it by yourself or have a PPI claims company help you. However, considering that you might not knowledgeable enough in this subject, it is advisable to work with a PPI claims company. Their experience in this field serves to ensure you receive the full compensation. They also save you time and the burden of dealing with unnecessary paperwork. Besides, you are only expected to pay once your claim is successful.