Payment Protection Insurance PPI
Over the last few years we have tirelessly tried to highlight everything that is wrong with the way that some parts of the credit industry have unscrupously and ruthlessy exploited our clients when it comes to the mis-selling of payment protection insurance. Some of the practices have been underhand and thankfully the majority of the credit industry are getting their houses in order and taking remedial action but lets face it they had to and without FOS intervention would this have been so swift? (although definition of swift – this has been highlighted as an issue since 2007 and is still taking place in 2010).
Some of the worst perpitrators of mis-selling have now thankfully or are in the process of coming to an end. You reap what you sowe, businesses that do not look after their clients or treat their customers as mugs deserve to fail ! We are uncovering cases of small debts consolidated with top up loans that have turned into crippling unmanageable debts – and all of this supposedly done in the clients best interest – we don’t think so, do you? We are always interested in your feedback and welcome your comments.
However we want to make sure that with all the noise around the mis-selling of payment protection insurance (PPI) that people don’t forget that when the PPI is sold correctly to needs at a fair premium that it is a great insurance to have. The benefits at a time of need with regard to accident, sickness and redundancy are genuinely heartfelt by the owner of that policy.
Remember that if you have had a loan or cedit card in the last 12 years (loans) and 6 years (credit cards) and you file a claim for the mis-selling of payment protection insurance that as a matter of course the lender will automatically cancel your policy if it is still live. This is totally right and appropriate however you need to be alert to this and you need to make sure you have a replacement ASU (Accident, Sickness and Redundancy) policy in place if you still require cover. If you want to speak about any form of protection then please contact our team at Asssured Mortgage Solutions.
Thanks again for listening – don’t let the mis-selling of PPI stop you from protecting yourself and your family in the correct way , the AMS Debt Dr Team.
Tags: ams, assured morgage solutions, compensation, debt dr, mis-selling, payment protection insurance, ppi, protection advice
