- Posted February 24, 2014 by
Panama city, Florida
Define PPI claims and how to get PPI Claims refund
Recently, someone described the PPI claims refund as one of the biggest scandals. So, what are PPI claims and how it was became as one of the biggest scandal in recent times. PPI Claims Adviceline helps you in understanding what you need to know about the PPI claims.
What is PPI exactly?
The full form of the PPI is the Payment Protection Insurance. It can be defined as the insurance which is bought to cover the repayment on any mortgage, loan or any credit card if you are not able to make repayments due to some specific reasons.
Since last 20 years, this policy is being sold in the country and is packaged with the mortgage borrowings or when the credit card is being activated. The borrower or the credit card buyer is supposed to be asked whether he requires the PPI for the same or not. If he says yes then the monthly cost of PPI is charged from the buyer’s account which is specific percentage of borrowed amount. This was the point where the mis spelling of the PPI was done. Regardless of the buyers wishes, the lenders and the credit cards sellers included the charges for PPI to the buyers. Also, some lenders made it impossible to get the loan without including the PPI.
After the breaking of the scandal, there are many companies such as PPI Claims Adviceline which are helping the customers to get refund, they paid unwillingly or due to ignorance. There are also some companies such as PPI Claims Adviceline which provide the advice to go through the correct channels for PPI Claims.
Eligibility for PPI Claims
Now the question comes, how do we know that we are eligible for the PPI Claims? The answer is very easy that if you have taken out a loan or mortgage in last few years you should check your papers. Also, if you have bought a credit card or have signed any form of credit agreement, you may be eligible for the PPI refund.
If you have a slightest doubt that you may be eligible for the PPI refund, you should gather your papers and take the help of a company who is handling these matters. If you are thinking that the matter will cost you more money, there are many companies in the market, who don’t require upfront fee. They also work on the principles such as no refund on PPI claims than no fee. Also, with the PPI claims refund, you will be able to claim any unfair credit card fees which have been accrued by you since the last six years. The procedure of reclaiming the PPI claims
The companies such as PPI Claims Adviceline are aware about the fact that it is not easy for the consumer to reclaim the refund. So, they make the procedure easier for the customers. All the customer has to do is to fill up a simple online form or make a call to the company. The advisers in the company get all the information from you and check out your claim for PPI refund. The role of the company in PPI claims
Although it is possible for the consumer to file the claim directly and get refund, the process becomes easy if he retains the company for PPI refund.
Some advantages of retaining the company for ppi refund claim
1. The company has several PPI Claims Advisors who are expert and make sure that your claim is handled efficiently and professionally.
2. The company such as PPI Claims Adviceline doesn’t charge upfront fees for the PPI claim refund.
3. The company works on the premises, no refund no fee. It means that if you get the refund, you can pay a fee but if your claim is rejected, there is no fee.