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Old 07-30-2011, 06:49 PM   #1
sandy6565
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Due to joblessness of a lot of people in the UK and those who were made redundant, more and more mis-sold ppi are coming out of the light. Many of them learned that the insurance policy was ineffective to them simply because they didnt met the criteria to make a claim. These people are those with pre-existing medical condition, on benefits, contractual and part time employees, self-employed and unemployed, students and retired when sold the policy. Sad to say, sales adviser didnt reveal detailed information of the policy to them. Others believed that their sales agent knew in the first place what their status was but still insisted them to get a policy. Some said they werent told that the cost of the protection was added in on to their loan which resulted to mis-sold ppi and those who did question it were advised this would help their loan application be accepted.
Millions of people who took out loans, charge cards, mortgages and other forms of loans and some of these people really would benefit from the policy. Due to instability of the economy, a lot of people see protection insurance as an extra payment contributing to their financial hardships and costs that they believe is not needed or have been put off by ppi bad publicity from the press, Financial Ombudsman Service, Financial Services Authority jordans online , Office of Fair Trading and British Government.
Looking to get your cash back from mis-sold ppi? Then visit www.PPIRefundsUK.co.uk to start your PPI reclaim today.
The chaos around mis-sold ppi are justified since many banks, lenders and brokers make vast amounts of profits from these mis-sold insurance policies. Because with the number of ppi customers who are now claiming back ppi repayments, the industry is currently struggling on how to get away with all the scandal of ppi urging people not to buy and if they have previously to claim repayments for their ppi policies.
Within the last few years, mis-sold ppi has been pointed out in the news papers and other forms of media through various consumer groups and watch dogs. This has provided the ppi industry a bad image leading to many banks to take away ppi as an option for their loans and credit agreements. However nike heels , not every ppi could mean you may lose out, specifically in an unpredictable economy like now.
Because of all these problems, people are forgetting the main purpose of the insurance policy. So much bad press release has been created it out to be a scam, but the true issue is not with ppi but the way it had been sold, either too costly, not properly explained and was sold to people who do not need the policy. Without this ppi policy, the borrowers could be left with no protection over paying back their debts if they get severe illness air jordans high heels , lose their employment, or made redundant.
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