In many cases, the customer talking out the loan had been given the wrong advice on PPI, or had been given to wrong PPI altogether i.e. a product that did not cover them for the things it was supposed to. Furthermore, many customers had been totally unaware that PPI payments had been added onto the total cost of their loan repayments, this is where the legal battle of PPI Mis selling begins.

There are a few questions to ask yourself before you begin the reclaim process. Below are just a few of the many questions you can ask yourself to see if you may have grounds to submit a claim.

Did your policy start within the last six years? If you can answer yes to this, whether it is still active or not, then you should consider reclaiming. If you do not have the correct paper work or documentation, request it from your lender.

If you find your policy was taken out more than six years ago, and you are still making repayments to it your chances of claiming are reduces a little, however there is still a chance you can make a claim. Once again, if you do not have the paperwork you require, you can request it from your loan provider.

If your policy is older than six years, the agreement has ended and you are no longer making repayments and you have no paperwork then it is very unlikely you will be unable to request a copy of the paperwork and make a successful claim.

Have you already claimed? Anyone who has claimed on a policy can still submit a misselling complaint, although the chances of success are at this point an unknown. However in the eventuality that your claim is not a success, you may still be able to cancel the agreement.

If you believe you have been Mis Sold Payment Protection Insurance ask the experts to help. Contact Donns LLP to help Claim Payment Protection Insurance back.

The Financial Services Authority (FSA) has today said those who have made a recent complaint about PPI mis-selling have got five months longer than usual to do it.

The usual time limit to make a complaint to the independent authority is six months of a final rejection or final response from your financial provider, however this has now been suspended until the 27th October 2010, for complaints that have been lodged and have received a final response from their PPI provider between the dates of 28th November 2009 and 28th April 2010.

The Financial Services Authority says it has been working on a long term solution to the PPI scandal. The long term solution is thought to detail how customers should be treated when complaining about a PPI policy they have taken, the action also ensures how that recent PPI complainants are not disadvantaged.

In the latest annual report released by the FOS they have revealed that 30% of new cases for the year to the end of March 2010 where related to PPI complaints.

The financial watchdog said that it had dealt with nearly 50,000 PPI complaints, compared with just 31,066 over the previous 12 month period. Whilst a proportion of these were related to PPI claims, the vast majority where related to complaints about how customers had been sold their PPI product.

On average, it is thought that PPI related complaints amount to around 135 each day. Many firms automatically reject PPI claims, yet the financial services ombudsman then upholds, on average, 90% of consumer protests it handles.

To Claim Payment Protection Insurance ask the experts to help. Contact Donns LLP to help Claim PPI back.

PPI is ‘insurance’ sold when you take out a loan. The idea behind PPI is a sound one, for example, if you take out a mortgage and cannot pay the repayments due to illness the PPI would pay your mortgage for whatever period the amount of PPI taken allows, a good idea.

Unfortunately this has not been the case, and the truth is that the majority of people with a PPI has either been misold, didn’t know they had been sold PPI or have been sold the wrong type of PPI which doesn’t actually cover them. So we have a situation where thousands of people are paying their cash into a scheme that is of no use to them whatsoever and would not even pay out in any case.

So what was the point in PPI you might ask? The answer is pure profiteering by financial institutions, to the tune of 4 billion pounds annually, all based on false information provided to the customer.

Recently the Competition Commission has stated that it will no longer allow the sale of PPI products alongside the sale of other financial products such as loans, credit cards and mortgages. And on top of that millions of PPI customers are claiming back money they have unnecessarily paid out, to the tune of 177 million in the first 11 months of 2009.

This decision means that the banks will no longer be able to sell this highly controversial insurance product at the time they decide to borrow, or during a fixed term after they have taken out the loan.

There are many PPI Claim experts out there to help you claim back your PPI, contact Donns LLP to help withPPI Claims and for the best advice

Mrs. Thorius was however, unaware that she was also paying thousands in add-on fees on top of her card balance. The credit card balance quickly rose to an astonishing 8,000. The ruling, by judgment at Newcastle-upon-Tyne County Court, understood that Lynne Thorius was falsely misold PPI when she took out the credit card in 2002.

Lender MBNA was trying to sue the mother-of-three, from South Shields for the remaining balance on her Sunderland AFC-branded credit card. Although Lynn was able to pay the bill, her circumstances changed when her full time job changed to part time house, which added to her financial pressures.

A judge ruled MBNA had breached the Consumer Credit Act, partly because the credit card provider earned commission from the insurance company for the policy it had sold, without telling Mrs Thorius. It is feared that the ruling could open the floodgates for millions of pounds worth of similar claims against banks and building societies.

Carl Wright, of claims management company Cartel Client Review, who successfully defended Lynne, said today that the ruling is a legal first.

‘This is the first time that a judge has ruled on this point and will have a massive impact,’ he said.

‘But MBNA thought their case was watertight. When we got to court our legal argument absolutely white-washed them and their case against Lynne was thrown out.’

‘This is a landmark decision for all Cartel clients and a demonstration of the strengths of legal argument used by Cartel.’

“MBNA acted in a disgusting manner. They harassed this woman at all hours of the day and night to force her to pay for something she never even asked for.

There are many PPI Claim experts out there to help you claim back your PPI, contact Donns LLP to help withPPI Claims and for the best advice

If you have a credit agreement in place, be it a credit card or mortgage agreement, and you took out PPI then you should have been made aware o the following terms. If you were not made aware of the following terms at the time of taking out the PPI then it is likely that you have a case of mis sold PPI and can then escalate this to a PPI Claim.

Your advisor should have made you aware of the following information:

The advisor should make it clear whether the PPI is optional or not

The advisor should also make you aware of any policy exclusions and then check whether any of these exclusions apply to you.

The advisor should make it clear whether the PPI is optional or not

If the policy expires before you finish paying for the loan or finance agreement, then the advisor should make you aware that this was the case.

If the policy was a single premium policy, then the advisor should have made you aware that the cost of the policy would then be added to the loan or finance agreement and that interest would then be applicable on the policy.

The rules set by the FSA are very clear. They state that you must be given enough information at the time of purchasing the insurance so that you are fully able to make an informed choice as to whether the policy is right for you. After all, if you were not informed about interest costs you cannot fully calculate the costs of repayments and so you may not actually be able to afford them.

Furthermore, if you are not or where not aware of the exclusions within the policy you then you couldn’t take this into account at the time of agreement. If the advisor failed to mention any of these points than you have a case of mis-selling a policy.

There are many experts out there to help you Reclaim PPI contact Donns LLP to Claimback PPI.

Theoretically, PPI is a great item for consumers, particularly in view of the rising rate of unemployment in the UK where people are being made redundant regularly. Ideally, a short spell of unemployment shouldn’t hamper your ability to repay a mortgage, but the reality is quite the opposite; lenders will avoid paying out at all costs, often claiming that an individual is not able to take advantage of the system based on some technicality.

The worst of the con is that you will most likely not be able to ever use the insurance in the event of an emergency, for example; if you are over 65, employed or otherwise, you could not claim PPI because you are over the age of retirement. If you have a previously documented medical condition, no matter how small, you would not be eligible for the insurance as you will be considered a high risk customer and as you are more likely take leave on medical grounds. If you are self employed, you are considered a high risk customer, so you will not be entitled to PPI. But in any of these circumstances, banks will have no problem adding it on to a service with no intention of paying if required.

PPI can be worth more than 30% of your monthly repayments so for a 100,000 loan, over 5 years, this could work out at 500 a month that you needn’t be spending. However it is quite easy to claim back so someone who has been paying for PPI for the last 10 years on a mortgage could be entitled to a nice hefty lump sum.

There are countless cases of lenders mis-selling PPI just like this and if you are one of them, you are legally entitled to a full refund. Since a bank will most likely dismiss your claim no matter how many times you enquire, it may be easier to enlist a legal professional to do it for you. Doing this can save you all the legwork and give your claim much more authority, most agencies work on a no-win-no-fee basis so you will not be out of pocket. After a watchdog ruling in 2009 lenders are now obliged to correctly sell PPI to customers on the premises that they are not overpriced, customers can chose to opt out at any time and they are fully covered.

There are many loan protection reclaim experts out there to help you claim back your PPI, contact Donns LLP for the best advice

categories: claims, ppi, payment protection, insurance, mortgage, loan, credit, bank

Brown was accused of making the move in a bid to be seen to take a stance against fraudulent expenses and dishonest politicians in the lead up to the general election. However he may not have the power as legal experts have commented that the government may not have the ability to withhold legal aid which is provided by the state.

60,000 was reportedly stolen by the MPs through false mortgage applications, rent claims and service invoices. But the cost of the prosecution will far exceed that figure, at the expense of the taxpayer the price of preparing their defence is likely to run into six figures even without the cost of the prosecution. There is further risk of the MPs having the case thrown out the Supreme Court which could send the cost even higher.

Justice secretary Jack Straw said that the government was in the process of enabling legal aid to be means-tested although they would not be able to implement them soon enough for the case of the MPs. Brown argued that the law has changed and although these changes will not take affect until June, it is just cause for the MPs to pay back the money.

Scotland Yard claim the investigation has so far cost them over 500,000 and the overall cost of the case has been estimated to surpass 3million. The MPs will begin trials on May 27th at Southwark Crown Court in London where a spokesman has confirmed that the MPs were granted an application for legal aid. Using the legal aid, the MPs have hired high priced lawyers costing hundreds of pounds an hour but if found guilty, they could face up to seven years in prison for stealing taxpayer’s money.

If you are looking to claim back PPI you could be eligible for a large sum, most people don’t realise they are eligible for a loan protection claim

Banks aren’t obliged to offer this service but if they do they are required to ensure they understand the background of the customer and are certain the PPI would cover them in the unforeseen.

Banks can exploit PPI in a few ways and the most common is simply allowing the customer to select PPI, simply by ticking a box and this releases the bank from the responsibility to correctly sell a customer the right product. If that customer happens to be unlucky enough to need the PPI, the chances are they will not be eligible for the product they have paid for.

The consumer would then remain unaware that they are completely ineligible for the product and if they did find themselves unable to make repayments they would not be provided with any insurance. Many thousands of customers have fallen on hard times only to find out there is no back up plan to pay their mortgage even though they thought they had planned ahead.

A second method is much worse, by means of signing a contract a customer can be unknowingly accepting to pay for PPI when buying a financial service; this is likely to be complexly written into the small print thus avoiding any legal indiscretion.

This kind of scamming has accounted for almost 1bn profit for the UK banks in the last year and with the number of unemployed remaining high this figure is likely to increase. It has reportedly affected over 8000 families in the UK in 2009. Many families are seeking compensation to claim back their PPI payments.

Want to find out more about PPI Claims, then visit Dons LLP site on how to choose the best Mis Sold Payment Protection Insurance for your needs.