bank charges, penalty charges, financial ombudsman, banking ombudsman, reclaim bank charges

PPI

Have you had any Loans, Credit Cards or a Mortgage with PPI in the last 12 years?

If yes, please click below.

 


At present we are successfully arguing that clients Payment Protection Insurance has been miss sold on borrowing that they have had or have in the last 12 years. The borrowing can be anything from Loans, Credit Cards or Mortgages to HP.

You don’t even need to know if you have had PPI or have any paperwork. If you do not know the information we will just need to know the name of the lender and the address they are likely to have for you.

Recover Your Money will work on a ‘no win no fee’ basis, which means you will not be liable to pay Recover Your Money any monies until you have been successfully refunded, at which point our 25% fee will be due.

Have You Paid PPI and Bank Charges?

If yes we can recover both!!!

What we do

We would undertake two separate complaints:-

1/   The recovery of the PPI, Interest and Compensation; once this is achieved we can then approach the bank regarding the charges.

2/   Recover the Charges applied, Interest and Compensation as a result of the PPI premiums paid. We are able to achieve this as we argue that the charges would not have been applied had you not had to meet the Insurance payment (the financial consequence to you suffered as a result of the miss sold PPI).

We have 25yrs banking and bank complaints experience and have dealt successfully with many complaints in this way. Instead of one refund we can obtain two and address the full loss that you have suffered.

How it works

If you had not had PPI and the extra cost caused by the insurance, then the charges on your account from the time the insurance was taken would not have been taken.  This is a FACT.
Not only will we recover the insurance premiums and interest that you have paid but also the bank charges that were paid from the time the insurance was taken out month on month until the present day.

Have you have ever borrowed money and taken out Payment Protection Insurance for a loan, HP, mortgage or credit card?
If you have you could be one of the estimated 20 million PPI policyholders that have been mis-sold Payment Protect Insurance.
Anyone who has or has had a personal loan, secured loan, credit card, store card or catalogue credit may be able to reclaim £1,000s. The mis-selling of Payment Protection Insurance (PPI) on these products has been so severe, some people might not even know they have it.

We can recover Payment protection Insurance premiums for the following:-

Personal Loans       (usually single lump sum premiums taken at the start of the loan)
Mortgages               (usually single lump sum premiums taken at the start of the loan)
Hire Purchase         (usually single lump sum premiums taken at the start of the loan)
Credit Cards            (usually monthly premiums)
Other Loans            (usually single lump sum premiums taken at the start of the loan)
Other Cards             (usually monthly premiums)
Lifetime Care          (lump sum premium for long term or nursing home care)

PPI Compensation

The majority of people who engage with a financial institution on the basis of obtaining a loan, credit card or HP agreement will probably have taken out some sort of Payment Protection Insurance, commonly known as PPI. What many people are finding out in the event of a default on their repayments it that their PPI does not cover them. It has recently come to light that many people who have purchased PPI may have been mis-sold and therefore entitled to PPI compensation. PPI is frequently sold alongside credit agreements and is meant to protect a borrower against the risk of being unable to make repayments be it through sickness, an accident or unemployment; it frequently fails to do so.

PPI can be staggeringly expensive, some policies can cost between 13% and 56% of the actual loan/credit amount. If you believe you may have paid for aspects of a policy which do not apply to you or not applicable to you, you may be entitled to PPI compensation. Common factors that should be checked when assessing if any compensation is payable are: Unemployment cover, medical aspects, ‘single premium’ loan purchases, details appertaining to the insurance cover and whether you have consolidated your borrowing. The aforementioned factors and exclusions should be rechecked in detail and cross referenced in regard to your own circumstances at the time the PPI was taken out; in many cases a valid claim for PPI compensation can be made.

Elderly people who were mis-sold insurance for nursing home care can claim compensation.
If you were sold a pre-funded long-term care policy in the 1990s you could be in line for a full refund. We can administer the claim with the insurance firm AXA, which now owns PPP obtaining the appropriate refund in relation to your claim
The concept
In the mid-90s people were invited to buy policies by sales people, who said they might not be able to afford nursing home care, as there was little or no government help. They said people might be forced to sell properties to pay care costs, but that insurance would help avoid that. For a one-off lump sum payment, the insurance promised a monthly benefit towards the cost of care, if that became necessary.
In reality
What they did not anticipate was that after ten years, the monthly benefit could be slashed to under half of what it was at the start and that to maintain benefits at the same initial level, they would have to invest thousands more.
Most of these policies were sold by the direct sales forces of PPP, now owned by AXA, and several other insurance firms.
Who might claim?
The exact number of people who could make a claim for compensation is unknown but could run in the 1,000’s. Claims cannot be made if a claim has already been made on the policy, so for instance, they have already had long-term care fees paid.

FACTS

Payment Protection Insurance (PPI) is often sold alongside credit agreements and though it is meant to protect a borrower against the risk of being unable to make repayments in the event of unexpected circumstances such as an accident, sickness or unemployment, it frequently fails to do so.

If you have taken out a mortgage, a loan for a kitchen or a car, applied for a credit card or consolidated your debts, payment protection insurance will almost certainly have come into the equation. Of course, PPI can be a lifesaver for some people but government figures suggest they represent a tiny minority. Statistics reveal only 4% of people ever claim on their PPI policies and that one in four of these claimants is refused. Small print exclusions and administrative nightmares are usually to blame.

Payment protection insurance can also be staggeringly expensive. The Citizens Advice Bureau reports that PPI premiums can add between 13% and 56% to the price of a loan. Payments can also carry high interest charges when lenders add insurance charges to the loan total. Even more worrying, you might have payment protection insurance without even knowing about it. Some unscrupulous sales people automatically include payment protection insurance in the quotes they give for monthly loan repayments.

How many people actually realise that their monthly quote includes an insurance premium already paid on top of the loan and costing thousands of pounds? If you have or had a loan in the last 11 years we can look at recovering the insurance premium.

Those with store cards, credit cards or catalogue credit will often have paid £100s out too, so check statements to see if you’ve been paying without knowing.

As most insurance policies are sold with a loan or credit card rather than standalone, many rely on information provided at the time of sale by the lender. As such, the lender has a responsibility to inform you about the insurance terms & conditions, both good and bad. All polices will have certain exclusions and these should have been explained in detail.

If you are confused as to whether you can make a claim a brief list below details the areas where mis-selling could have occurred. You may have been mis-sold if you fit into one or more of the following categories:

  1. Are you self-employed, unemployed, redundant or retired?
    If you have been paying for a policy which includes ‘unemployment’ cover, a reclaim may be possible. If you don’t need unemployment cover.
  2. Have you had medical problems in the past?
    Most policies exclude existing medical conditions, meaning you are unlikely to be covered for any medical problems you have had in the past. If you were not informed the policy could be affected by medical problems or were never asked about your medical history a claim could be possible.
  3. Were you sold a ‘single premium’ loan policy?
    A single premium policy is where the whole cost of the insurance is added as a big lump sum at the start of the agreement, which is then repaid over the term of the loan. If you had one of these polices and left or changed the agreement part way through, you may be eligible for a part refund.
  4. Were you given full details of the insurance?
    This covers anything from being told the insurance was compulsory, to not knowing you had even purchased PPI when taking out the loan. As you should be told about the full terms of your insurance, any lack of information could make the sale unfair.
  5. Have you consolidated your borrowing?
    If you have had a bank refinancing package or consolidated an outstanding debt or debt, an insurance premium is likely to have been added and could potentially be recoverable.

How Recover Your Money Ltd can help you

Recover Your Money will work on a ‘no win no fee’ basis, which means you will not be liable to pay Recover Your Money any monies until you have been successfully refunded, at which point our 25% fee will be due. If you are not sure whether you have been mis-sold PPI please contact for ‘no win’, ‘no fee’, impartial advice in regard to your potential claim for PPI compensation. Simply download our paperwork or e-mail us for information regarding the reclamation of what is legally yours!

When it comes to matters of a financial nature it really does make sense to consult the specialists, at Recover Your Money we pride ourselves on our extensive knowledge of bank complaints and bank charges for business and personal account holders and our aim is to help you get what you are owed. The business was established to resolve and rectify bank customers’ problems and in 8 years of operations have helped many customers resolve many issues with financial institutions from PPI compensation to extortionate administrative charges.

Aside from our extensive knowledge base regarding financial institutions and their charging procedures we also pride ourselves on our customer service and realise that each customer and their complaints are unique and subsequently take the time to assess each enquiry on its own merits and associated complexities. To conclude, if you have even the slightest concern that you might have been mis-sold PPI or indeed been unfairly charged by any financial institution, contact us and see what we can do for, your PPI compensation could be just an e-mail away.

What we do and how we do it

How much does it cost?

Recover Your Money will work on a 'No-Win, No-Fee' basis which means that we will not take a penny off you until the agreed monies have been successfully refunded at which point our 25% fee will be due.

Reclaim Payment Protect Insurance, PPI

If you have taken out or repaid a loan or loans in the last 6 years or prior to this if you have your loan documents we could recover your insurance premium.

You might not be sure if you have been mis-sold Payment Protect Insurance (PPI). However, Recover Your Money is able to offer professional advice on a no-win, no fee service so why not call us on 01752 840623, download our paperwork for completion or email us at info@bankcomplaints.co.uk as it could be time to reclaim what is legally yours!