If you have been one of the victims of the mis-sold insurance plans like that of loans, overdraft, car finance, store cards, etc., you must have known how much of a useless time and money investment has been made and that too without any fruitful results. Often the financial institutions sell off their plans in need to complete their targets and there are clients who happen to purchase it in misguidance. And right when you had thought that you could not fight against the company or banks for mis-selling the wrong insurance plans, there are introductions of new ways in which you can save time and efforts and claim on the money that you have invested.
Claim on the PPI Claims Mis-sold
Recently, there has been an alarming rise in the number of customers who have claimed for their money against the financial institutions and banks for the plans mis-sold to them. The launch of new programs, apps, and measures over the deadlines has brought a lot of customers ahead to make use of time and claim the money that they have uselessly invested on the payment protection insurance plans.
Make the Move Now
The financial Ombudsmen have taken charge of the pending claims and useless selling of insurance plans by the banks and have introduced a deadline for the people to lodge their PPI claims. This is known to create awareness and give the people a push to move faster and take action. The deadline is said to be extended to June 2019 on first apply first serve basis which is expected to bring an even bigger rise in the number of people set to claim their PPI money.
Missing Documents and Credit Records
Often there are times when people forget their insurance seller or misplace the papers. And getting track of the documents is very important to make the PPI claims. However, there is a way out for restoring for you the lost documents too. The credit report can be generated by the renowned institutes like the Equifax, Experian, CallCredit, etc., at a minimal fee and thus, you can arrange the papers well before applying for the PPI claims.
Know Your Liability
The biggest trouble of signing up for the wrong Payment Protection Insurance Claim plans and being mis-sold the plans is the unjustified and irrelevant payment that you shall have to make towards the plan without having any use of it. The unawareness towards the payments and the plan time stretch will of course leave the person jinxed for their expense. It is important that you pay attention to the details of the plans that you have purchased, the benefits associated with it, estimate the expenses, and derive understanding if the liability is worth the benefits achieved by you. And if the plan is proving useless to you, it is time to make a move and apply for the PPI claims.
With Financial Conduct Authority taking necessary steps to guide the banks and setting guidelines for easier solution to the mis-sold loan and insurance, it is now an easy process to get your money back without having to pay much for the proceedings.
Author Box: james is your personal finance manager and always comes to your rescue at needy times. For instance, if you are gearing up for filing PPI claims, he makes you aware about the date and how to go after it successfully.