Bad credit loans are something that can help even people with challenged credit get what they really want — whether that’s a new vacation or a new car. However, when payment protection insurance is packaged with the loan, things tend not to work so well.
If you’re not in the loop about this insurance product, here’s what you need to know — payment protection insurance is supposed to protect you in the event of losing your job or getting very ill. Instead the protection was found to be useless in many cases — the high rejection rate is something that has actually given the insurance industry a black eye. When people take out insurance premiums, they are expecting that if the worst actually does happen that they will be protected at all costs. Unfortunately, this didn’t happen and that’s where the problems actually started. If you really want to make sure that you’re going to be able to take care of yourself, you definitely want to make sure that you take a good hard look at your bad credit loans.
If they include PPI and you were not informed fully of this product, you definitely have a case for compensation. Many people were also mis-sold PPI, so it’s definitely not only you. Now is the perfect time to stand up for yourself — even if you want to back down because you don’t have a lot of money for legal representation. There are numerous law firms that are more than happy to hear you out and make sure that you have a case. If you do, you definitely want to claim this money back. It’s not even just a matter of the raw money figure — it’s all of the interest that you are owed. If you took out a loan 5 years ago and paid it back, you could be due a lot in interest without even realizing it.
Don’t just read this and think that you don’t have a case — let an expert tell you where you actually stand. You might be surprised at how much money could be due your way. All you really need to do in order to get started is to make sure that you think about the bigger picture from every angle. Once you find the courage to stand up for yourself, all things are truly possible!