There are times when you are not aware as what fraud has been carried out with you in order to make money or sell a particular product. One such example mentioned in www.freeppicalculator.co.uk is PPI Policy where the companies and the salesmen cheat their customers by not stating the complete stats of the policy. This in turn leads to a frustrated customer. So, is there a no way to get a refund for the sold PPI and then reclaim the money which may be your hard earned amount and you do not wish to part with it. There are varied amounts of money which has several of pounds to thousands which can be claimed. When the lender is able to check the amount which is to be refunded you are actually eligible for, you can claim for what is yours. This can be done by yourself using the calculator as well.
What is ‘THE’ Formula?
There are companies which cover the entire loan amount and it becomes simple to calculate. Firstly, just take the length of your money and then do some calculations with the amount of money you pay every month and calculate the total amount with the PPI calculator. This will give you an estimate of the amount you owe to the company to clear your dues otherwise serious offence is recorded.
What If you do not have Paperwork?
Without having your original loan agreement or your credit card statements, it becomes difficult to actually reclaim the PPI amount which you owe. If your policy ended a lot more than six years ago, your lender might not have records. If you don’t have your own paperwork, it’s unlikely that you will be in a position to reclaim your money.
You can directly contact the people who have issued you the loan and ask them for more time to pay off your debts. If not then the claim papers needs to submit with the governing bodies. These bodies make sure that you genuinely owe money from the lenders. If the claim papers are intact and there are thoroughly paid interests and premium amounts then you need not be scared. You will get back your money. If not, you can file a complaint with the officials against the comapny for fraud and not returning to the communication which you sent.
Reclaiming PPI Premiums
As mentioned in www.freeppicalculator.co.uk, despite its several benefits, there are people who are always concerned about losing their jobs or getting ill or not being able to work for longer. These people refrain from taking PPI as it becomes difficult for them to pay off their debts. When these people are sold PPI without knowledge, serious actions should be taken against the companies. The officials who have been selling these policies should be educated on the same and should always be honest with their customers.
Types of PPI
There are two types of Payment Protection Plans-
- Monthly premiums
- single premiums
Monthly premiums are included in the credit cards. This arrangement allows you to cancel, increase or decrease at any given time. Reimbursements for the payments are nominal. Incase you have not been advised that the PPI continues to be credited into your account you are entitled to claim what is yours.
Single premiums are the ones which you take on your main loans like home loans or educational loans and which has certain duration where it needs to be paid off. These loans are the primary loans where the PPI amount and the interest’s people pay are for the same duration. These loans can be canceled and needs to be accounted for.
PPI Claims Against Brokers Who Have Ceased Trading
Any claim of insurance mis-selling should be fond of the company that brokered the insurance coverage instead of the actual lender or insurance provider. The rules have become extra strict in order to cease fraudulent cases and reduce the claim complaints.