Worrying is something that we all experience from time to time, but with the economic downfall, financial worries are more prominent than ever. With the economy at the forefront of everyone’s minds, getting into debt is a very tempting option, but also one that causes more serious problems. For those who have a full time job, there is the possibility that they will be able to pay off their debts through their earnings, but if they could not work because they have had an accident, or they have become ill, or even made redundant then the problem becomes a lot bigger. (more…)
PPI – the controversial insurance policy
Why elect to take out payment protection?
Sometimes, when you take out a loan or apply for a credit card, the provider will offer you Payment Protection Insurance. The main idea behind this is that your loan or credit card debt will be repaid if you become unable to pay them yourself because you cannot work due to accident, illness, or redundancy. Depending on the PPI provider that you take out a policy with, different things will be covered. (more…)
The issues surrounding payment protection insurance
PPI is intended to assist borrowers with making repayments on loans if they cannot attend work. The borrower pays a set amount each month in order to be insured. In theory this in fine although in practice it is not always an appropriate form of insurance. (more…)
PPI reclaiming
Getting your money back if you have been missold PPI insurance can be quite easy. If you enlist a claims management company to do it for you they will take care of all the paperwork.
The complaints procedure can sometimes take a few weeks but may also take several months. (more…)
Why PPI can be unsuitable
Single premium PPI cannot be sold together with loans in the UK. Consumers wishing to purchase PPI can choose to purchase a regular premium policy instead. This is due to the fact that many of such policies were widely mis-sold over the past decade
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