The people who suddenly discover out of the blue that they are also the owner of PPI policy and have been paying for it for many years, there is nothing to get shocked. There are millions like you all across the country and the banks have made fool out of their customers to get profit they never actually earned through rightful means. The banks are now made to pay by the court back to the customers, so that the loss of the customers is reversed.
There are many ways the banks have sold the PPI to its customers following the unfair means, and some of the most common ways are as follows-
- The PPI was widely mis-sold to many people and one of the biggest way most of the people were fooled into buying PPI was when the agents never told the customers they are buying PPI too. Yes, many of the customers were never told that they are being sold PPI.
- Many people were made to believe that buying PPI is essential to be able to buy the line of credit they are interested in.
- Many people who were not eligible for getting the benefits of PPI were also sold PPI. This caused confusion as when the people needed the coverage of PPI, they were not able to get the help essential for them.
- The agents and the bank never helped the customers to understand the complex clauses of PPI, which led to people not getting the benefits when needed.
- Many people who were self-employed or retired were also sold PPI, and they are not covered under PPI clauses.
- Many people were forced-sold PPI even when they were not interested.
If you are one of those who have been mis-sold PPI as well – do not worry as you can now make the payment protection insurance claim. Just follow the claim process and provide all the relevant documents and the explanation as to how the PPI was mis-sold, and the banks would refund you the amount with interest that you paid to the bank for PPI.