Tag : payment protection insurance

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.

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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!

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If you have payment protection insurance going on right now — stop right here. You might not want to hear this, but your policy could be completely bogus. It’s not that you were sold a policy that would never work. However, there is a strong possibility that if you were to actually activate the loan’s payment protection insurance, you would be denied. How can that be? It all goes back to the salespeople that just pushed you into the loan. If you needed money right away, you were probably told that you had to just deal with PPI. This isn’t the case at all. After all, who wants to live with PPI anyway?

The reality is that if you already have a preexisting health condition, you should have never been offered any type of cover that addresses your health. A pre existing condition negates any type of cover unless otherwise specified. This means that if you were to get a policy anyway, your claims would probably be denied on the basis of having the preexisting health problems. It’s not a fair system by any means, which is all the more reason why you need to have your voice heard. Far too many people suffer in silence, thinking that their voice doesn’t matter.

Thankfully, you can always get a claims company to stand by you. PPI isn’t something that you want to just wait around, hoping that it’ll fix itself. The only way to get out of payment protection insurance and have your premiums returned to you is to get legal attention on the matter.

There are multiple twists and turns with PPI, twists and turns that you really do need to have someone look into on your behalf. Hiring a claims company also means that you don’t have to spend night and day trying to figure everything out on your own. It’s better to think about the bigger picture rather than getting sucked into what you think is the right answer. Be sure that you pay close attention to this as much as possible.

Good luck with your upcoming PPI fight. It might sound hard at the beginning, but just trust the solicitors — they will not steer you wrong if they can help it!

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