Recently, a piece of legislation was passed that allows consumers to reclaim PPI payments and interest in certain situations. The law is fairly sweeping and holds banks, lenders and credit card companies responsible for clandestine sales of the insurance. What I want to tell you is that claiming PPI refunds id easier than you think it is.
Payment protection insurance, or PPI, is usually attached to any type of loan or borrowing contract. This applies to basic loans, credit cards, mortgages and other types of borrowing situations. Until recently, many of the lending companies were selling this coverage to consumers as an add-on without disclosure. In some cases, consumers were not even aware that they were purchasing the coverage.
In that interest, the new legislation makes it possible to file a claim for PPI refunds as far back as 6 years. The claim can be done yourself or through a consumer rights firm or agency. The good news is that getting PPI refunds is easier than you think. It is a simple process of determining that you were either mis-sold PPI or was not aware of the terms or that you even HAD insurance.
All that is required is proof that you did not have full disclosure of the sale and you’re on your way to reclaiming that money. All the firms that are providing this service are doing it on a basis of no upfront fees or costs to start the process. In addition, in the occurrence that your PPI refund is denied or lost, you do not have to pay the firm anything. The attorneys get paid ONLY if they are successful.
Using a firm to reclaim PPI monies means that PPI refunds are easier than you think to get. Since the attorney firms get paid only if they win the case, they are very adamant about preparing the case and pleading your cause. This alone makes PPI refunds easy to file for and receive.
It is possible to file the claim yourself, but the process may be a bit more timely and costly overall. Another piece of good news is that even if you have begun the process on your own, you can still involve a consumer rights firm. Believe me when I say that getting PPI refunds is a simple process and will cost very little in the big picture. This is especially true if you can go back several years and reclaim the money.
PPI refunds can be claimed back for several reasons, including, but not limited to:
Being unaware of purchasing or being sold PPI. Full disclosure not being made at the time of purchase. If you were sold PPI that you do not need. If you were sold PPI without knowing the costs and terms of the policy. If you were pressured into the purchase. If you were misled to believe that you would receive a better rate with a PPI purchase.
Any of these conditions can make PPI refunds a reality for you. Look into it today and put some of that money back where it belongs; in YOUR pocket!
23 JanPPI Refunds Are Easier Than You Think
23 Oct11 Secrets to Paying Off Credit Card Debts
The current growth of UK debt is £1million every 8 minutes and we all contribute a Stonking £263 million in interest a day. There is currently 27.4million credit cards transactions made a day with a total value of £1.56billion. The total credit card debt in the UK for September 2008 was £55.7 billion and the average adult in the UK has approximately 4 credit cards, store cards and debit cards.
It is little wonder that we are all looking for the ‘secrets to paying off our credit card debts.’ We make our monthly payment and then find that we paid more in interest than the amount that was reduced off our outstanding balance. Frightening isn’t it!
When you look closely at your credit card statement you will see that the interest rates are somewhere between 0% and 27% per year depending on the provider. The average card is generally around the 17% +/-mark.
The secrets to paying off your credit card debts are:-
Credit card consolidation is the solution of last resort unless it is the only option available to you due to the lack of your disposable income.
Shop around for a credit card provider who offers a 0% credit card deal for the longest period of time. The normal offer is for 9 months or 12 months. Check the providers transfer fees for moving your balance to them and see if you can find a provider with either a lower fee or even better no transfer fee. Make sure that you move the balance to another card at the end of the 0% deal. If you don’t then you will certainly go on their worst interest rate deal. Don’t try and arrange too many 0% deals in the same month as you could find yourself being turned down. Just move one or two cards every other month.
It is also worth considering a credit card with a low interest rate for the term of the balance. But don’t spend any money on it as the interest rate for new purchases will be exorbitantly higher.
If you are paying any Payment protection Insurance then you must see if you can find a cheaper policy to cover all your outstanding cards elsewhere. You should cover yourself for accident, sickness and redundancy with the same cover or better. Then cancel the credit card protection insurance from your credit card.
Move all of your credit card balances to better interest rate deals. Make sure that you move all you highest interest rates onto the lowest interest rate deals first.
Don’t forget you can always ring up your credit card provider and ask what deals they have. It might be a better deal then you are currently on and any deal that is lower than you are paying now is better.
Now you have rearranged your credit cards you should start paying as much as you can comfortably afford off the highest interest rate cards first and the minimum allowed off the interest only cards. Get the highest interest rate cards down as quick as you can. Keep moving those cards to the next best interest rate deal as soon as the last deal finishes until all your credit cards have a ZERO balance.
Once you have cleared a credit card balance completely then cancel the card and move the money you were spending on the card you cancelled to the next card and watch as your balances just fall away.
Start using your debit cards instead of your credit cards and you will find that this will curb your passion to spend on plastic. You will go overdrawn in your bank account if you have not got enough money to cover your purchases. The bank will charge you an overdrawn charge of around £20 to £37 and you will quickly realise that you can only spend what you can afford.
When you have a Zero balance and one credit card left you need to reward yourself you have earned it! What a Result! Congratulations
Now that you are debt free and in control of your finances you may like to try this. You have now qualified as a Master Credit Card Tart. Apply for a 0% credit card. Then withdraw the full amount of credit they have given you and buy National Premium Bonds. Pay the minimum monthly payment allowed. At the end of the 0% deal move the balance to the next 0% deal and so on. Here is the best bit it will never cost you anything and all the winnings are tax-free and all yours courteous of the credit card company. You may just be one of the two lucky £1million Winners that they announce each month. What a flexible friend you now have!
The eleventh secret is you could contact Finance Claims Checker and let them see if your credit card agreements are invalid and unenforceable in law. If they are then they may be able to have your credit card balances written off using their solicitors and the legal loopholes in the Consumer Credit Act 1974.
Jenny Austin is a Money Saving Expert , for further information on how to choose your Secured Homeowner Loan , please visit http://talkmoneyblog.co.uk.
05 SepMeeting Your Monthly Obligations with a Payment Protection Insurance Policy
Chances are that unless you’ve inherited a very large sum of money or are fortunate enough to have a benefactor who pays all of your bills, you have at least one financial obligation that requires you to make monthly payments. Timely payments to your loan or credit obligations are necessary to preserve your personal belongings, your livelihood, and your credit standing. Protecting yourself and your family in the event you are unable to continue those monthly payments due to job loss is very important, and can be achieved by purchasing a payment protection insurance policy.
Monthly payments of loan and credit obligations can apply to any number of things, like your rent or mortgage payments, auto loans, cell phone, utilities, insurance, credit cards, etc. Making these payments each and every month on time affords you the benefit of having a roof over your head, a method of transportation, means of communication, and having running water and electricity, amongst other things. What would happen if you were no longer able to make these monthly payments?
Sometimes, unexpected things happen in our lives. The company we work for is no longer able to employ us, we fall ill, or we are involved in an accident of sorts that leaves us unable to work. If we are unable to work, we are unable to buy food, support ourselves and our families, and, of course, unable to pay our bills.
Luckily there are insurance products on the market today that allow us to prepare ahead of time for such events. An insurance professional will work with you to design a payment protection insurance plan that will work for you. With a payment protection insurance policy, you never need to worry about your monthly payment obligations going unmet, in the event you are unable to work.
To find out more about Payment Protection Insurance , take a moment and visit us at http://www.burgesses.com
17 AprProtecting Yourself Through Loan Payment Protection Insurance
Most people today have at least one loan they have obtained through a financial institution in order to purchase large items such as homes, vehicles, recreational vehicles, etc. The timely repayment of these loans is very important. In order to successfully repay any loans you may have acquired, you need a steady income. If for some reason you lose your income due to illness, accident, or job loss, repaying your loans could become impossible. Purchasing loan payment protection insurance to guarantee that your loans will be paid, in the unfortunate event that you are unable to do so, is a very wise idea.
Whenever a person looks to secure a loan for a large purchase, their income, employment experience, and ability to pay back the loan is scrutinized by the financial institution considering the loan. At the time you are taking out a loan, it is difficult to imagine that something may occur which would prevent you from paying it back in due time. However, unexpected things do occur.
It happens every day…an income earner is struck ill, involved in a disabling accident, or laid off from his or her job. Though you may have a savings account, chances are, that savings account will only last for so long before you are left wondering where you are going to come up with the income to pay all of your daily and monthly expenses, including any open loans you may carry.
Purchasing loan payment protection insurance is one of the best ways to make sure that if an event occurs leaving you unable to pay your expenses and loans, your payments will, in fact, be made through your policy; and, the avoidance of late fees, finance charges, and collection phone calls will be achieved.
what you just learned about Loan Payment Protection Insurance is just the begining. To get the full story and all the details, check us out at burgesses.com