PPI Claim Solicitors – A Viewpoint

PPI Solicitors are now much in demand as they are eminently qualified when it comes to making sure all arrangements are made so that loan repayments can be made on time. Failure to do so could result in foreclosure on home or repossession of car, for example. Credit history can also take a beating on account of non-repayment and criminal charges can even be filed. However PPI offers the perfect solution as the policy will take over in case of an inability to pay.

PPI can cover for you when it comes to making repayments because of your failure to do so account of an emergency of some kind which no one could predict. This would include accidents, sickness, unemployment and redundancy for example. Even so, mis-sold PII became the rule rather than the exception.

Statistics show that around 85% of consumers who filed for PPI claims saw rejection or were refused outright. Many lenders knew that few options were available to consumers so they forced borrowers to accept PPI. It was sneaky way of going about things as consumers were blissfully unaware they were being surreptitiously charged for PPI. Like most people, other than the amounts due they missed out on the fine print in their bills which showed they were being charged extra for the PPI policy

Mis-sold PPI is a con game which has been used by lenders to fool borrowers and even faithful customers in order to shore up profits. Clear indicators that a PPI policy has been mis-sold include it was pawned off on the customer without his or her knowledge. Another indicator is the lender or bank did not specify the policy was not mandatory but made the customer think it was.

Many lenders almost forced customers to take out the policy implying that without it, the loan would not be given. In cases like this, the borrower who is being charged under an indemnity policy has the right to claim repayments. PPI Solicitors and law make it clear that forcing so-called compulsory insurance on customers goes against their basic rights.

16th May 2010