Payment Protection Insurance or PPI can be very complicated. It is not unusual for people to become confused when it comes to complicated financial products. This has not been helped by when many an innocent borrower was trapped into wrong payment protection insurance policies by the salesmen at the banks and other financial institutions. They made huge profits from commissions from sales and the insurance premiums people unwittingly were made to pay.
Have you taken an incorrect PPI policy that is of hardly any use to you? If so you are not alone. Millions of people realised that they had a policy that was not suitable for them. Also, many realised that they had been paying for PPI but didn’t even know they were doing so – they were opted into it without their knowledge. Whatever form the mis-selling of the PPI took – a claim for a PPI refund is your legal right.
The bank or the other organization that has entrapped you with the wrong policy will definitely try to prove you wrong or will even try to negotiate the condition and force you to finalize for much lesser that what you should be actually getting.
You are not legally bound to follow either of the terms that the bank proposes to you. In case you are facing difficulties and the bank is making your life hell you can seek the help of the Financial Service Ombudsmen and acquire the right payment protection insurance policy.
If you have a busy schedule and you cannot afford to spare your time on such issues, you can contact PPI claims service providers at www.PPIClaimsAdviceLine.com. They can help you to get back your money. These PPI claims companies hire legal experts who specialize in such cases and also have full knowledge about the legal proceedings. While you approach any PPI claims service provider make sure to check that the company is approved and accredited by the Ministry of Justice or else you might land up fighting another legal war.