80 In-spire
LS
In the last few years within the news, there has
been an increase of coverage on the subject of
mis-sold PPI to thousands of families with a low
income. Additionally, people are regularly being
contacted via text messages, phone calls and emails
from random companies, all claiming that they're
entitled to money. Are these companies legitimate?
Do you really need help from these companies in
order for you to get your money back from many of
these big lenders?
Many of the UK's population has heard their
family and friends talk about PPI, seen it on TV or
received messages, yet there is still a large fund of
unclaimed money out there because some people
simply do not know where to begin.
What is PPI?
The whole concept of Payment Protection
Insurance (PPI) is to cover the debt repayment
in unfortunate circumstances, for instance the
person who takes out the loan becomes ill, loses
their job or has an accident. People often think
of PPI as being related to credit cards, but it also
includes store cards, mortgages, loans or any form
of `financing' a product.
There is no harm to agreeing to PPI cover if
you genuinely believe you will benefit from it.
The problem is the way they have been sold to
customers in the past. Many individuals are often
left paying for the insurance for years, unaware that
they had ever signed up to it.
"Our records show you could be entitled to £3000.
Text or ring the number below to find out more
information".
How many of you have received a similar message
to the statement above? Like anything in life, some
companies have seen that there is easy money to
be made from other people's cash. Many of these
companies are willing to deal with your case, but
for a fee! However, some are completely bogus.
There is no need to sign up to any firm in order to
get your cash back. There are instead simple steps
that you can take to get the ball rolling in the right
direction.
PPI-It Pays To Reclaim
In-spire LS
Money Matters
Words by Latoya Henry @Toyz305