A LOCAL firm of personal injury specialists are extending their range of services to help people who have been mis-sold payment protection insurance.
From now on Johnson Law Solicitors will be able to represent you if you think you may be entitled to compensation from a loan or credit card provider.
Payment protection insurance (PPI) is a form of insurance offered when you take out a loan, credit card, mortgage or other finance agreement. It ensures that your payments will continue to be made during periods of sickness or unemployment, therefore protecting your personal assets.
However, as Aaron Maloney from Johnson Law explains, it’s an extra that many consumers do not want or even know they are paying for.
“While PPI is something that many people feel is worth paying for, many lenders have failed to fully explain the policies, sold PPI to people who are ineligible for it, and not paid out when borrowers needed the funds.
If you have taken out any type of loan and are unsure if you were sold PPI the first step is to check your loan agreement documents carefully. If in doubt, get in touch and we can help you.”
There are many companies now offering to help reclaim money from mis-sold PPI, however Aaron Maloney advises consumers to proceed with caution, especially if contacted via cold calls.
“Many companies promise to reclaim 100% of your PPI on a no-win-no-fee basis through television and radio advertisements, and intrusive cold calls. My advice is to use an established firm of professional and experienced solicitors who will use their expertise to guide you through the claims process with minimum stress.
“If you have taken out a loan, mortgage or credit card and the salesperson did not fully explain the PPI policy when you took it out, you should seek further advice. If you were told by the salesperson that you had to take out PPI in order to secure your loan, or that you would have a better chance of getting the loan with a PPI policy, this is also classified as mis-selling.”
