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Claim it back with First Refunds! If you were mis-sold Payment Protection Insurance, it's about time they paid you.
"Around 50% of the 20 million PPI (Payment Protection Insurance) policies sold in the UK were mis-sold. In many cases, people were pressured into buying PPI, being told it was a condition of getting the loan. In others, policies turned out not to be worth the paper they were written on when the time came to claim.
The good news is there is a very high success rate for those making claims against lenders/ banks. Fines of more than £22 million were levied against Lenders, for mis-selling, in 2008 and more will follow this year - making it easier and easier to lodge successful claims. Although customers are able to make independent claims for refunds, most are reluctant to take on these mega-institutions on their own.
This is where First Refunds come in. We are regulated by the Ministry of Justice, which officially enables us to manage claims on behalf of these people. The majority of cases are clear-cut. Where there is any doubt, we have the authority to obtain all data on the sale of the loan / PPI including all recordings of telephone calls made between the lender and customer.
For this service we charge absolutely nothing until the claim is successful, and at this point our fee is 25% of the monies reclaimed. The process takes on average 8 12 weeks. Occasionally, when a settlement cannot be reached, a case is referred to the Financial Ombudsman to make a judgement. Although this process can take longer it is usually successful for the claimant (the success rate currently stands at 90%+).
Most of our claims fall under two categories:
1) PPI mis-selling
This is the mis-selling of single premium insurance policies sold alongside car loans, homeowner loans and credit cards, usually taken out to cover the loan premiums should the customer not be able to keep up payments due to redundancy, illness, etc. There are as many as twelve reasons constitutes mis-selling, with the two most common being
- the customer was pressured into taking it, and
- the term of the PPI is different to the term of the loan.
PPI is considered mis-sold if the lender or broker was guilty of just one of the twelve misdemeanours, (a full list is on the web-site www.FirstRefunds.com). PPI refunds are up to 20% of the value of the entire loan.
The sale of PPI is such a scam, that it has now been banned by the FSA.
2) Undeclared Broker Commissions
Unless the financial broker declares to the borrower exactly how much they received in commission on the sale of a loan, the whole commission is reclaimable under established UK case law. This is further strengthened if the broker also charged a separate broker fee. Millions of broker commissions are undeclared and many of the big banks are making provision to pay back up to 15% of the value of the loans they gave out".
If you have been tempted by this, here's the link:
The Link Was Here to go to The Place!
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