What you should know about payment protection insurance claims
What you should know about payment protection insurance claims

Payment protection insurance provides a very viable benefit to many individuals. This form of insurance provides the borrower with a means of paying their debts during circumstances in which they are not able to continue to make timely payments or any payments at all on debts that owed. It is important for any barrower to have this form of insurance, in order to protect them financially in a worst-case scenario.

Payment protection insurance claims are usually made in instances where this form of protection was mis-sold with mortgages, loans, and other debts. These claims can be made by the individual or with the use of a solicitor, and it usually advised to use a solicitor. In most of these cases, the solicitor will work for a percentage of the money that is reclaimed.

The solicitor or individual will be attempting to claim back all money that the barrower has paid, in addition to the interest charges which were paid, along with the payments. In many cases the loan is still being paid on, which makes it pertinent to claim future charges, and to possibly have the interest charges written off. In fact, over 80% of payment protection insurance policies have been mis-sold, which makes claims very common.

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