Why Is PPI Becoming Such a Big Deal

Are you trying to figure out the whole PPI issue? I was too. I was trying to figure out what was really going on in the world of finance, and PPI kept coming up over and over again. So I figure if I have this concern, you probably do as well.

The first thing that you need to know is what this stands for: payment protection insurance. In theory, it’s designed to protect you against defaulting on the loan product in case of illness or unemployment. Unfortunately, many of the people that signed up for PPI or had it automatically bundled ended up being unable to actually claim it. They were denied in heavy amounts for something that they put in a lot of money in terms of past premiums.

If you’re part of this group that did that, you could actually have been mis-sold PPI, especially if the terms weren’t explained to you.

At this point, I know you’re pretty upset. I would be too. I didn’t have a loan product that had PPI, so I had nothing to claim. However, if you do have money to claim you might be wondering how to fight back against PPI.

Make sure that if you’re entering into an agreement today that your financial product doesn’t have PPI of any kind. This is a lot easier than you think. And if it does have PPI, make sure that you actually qualify for it. For example, if you’re self employed you probably don’t qualify at all.

From here, to claim anything you are going to need to get a solicitor on your side. This isn’t difficult, as there are plenty of shops now offering PPI claim assistance. Having a legal advocate is always a good idea when you’re trying to claim a monetary award. If you don’t go with this you could end up hurting yourself in the long run, and who really wants to do that?

You don’t have to pay the solicitor anything up front. There’s no fee if you don’t win, since they’re taking it on a contingency basis. You just have to make sure that you focus on what can actually be obtained at this point — it really could be a lot more money than you think! The time is right to go online and at least look if there are any solicitors in your area. From there, you just need to fill out an online contact form and someone will get in touch with you. This is a hot button issue right now, and there are many firms trying to help fellow Brits get things together.

Take care of yourself first and the rest will follow! ~Ellie

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