Did you know that there are around 20,000,000 policies for PPI payment protection insurance that have been sold across Great Britain and Northern Ireland and the majority of these have been woefully miss-sold?
When sold correctly PPI is a very good insurance that pays you a benefit for when you get ill, lose your job or have an accident – nothing wrong with that so just what has gone wrong?
The Citizens Advice Bureau called the whole thing a “Protection Racket” and raised a super complaint to the Financial Ombudsman (The F.O.S.).
Lots of lenders charged around 900% above the price that you could buy this type of insurance on the open market……that’s 900% !
Lenders also charged 5 years of premium in one go so that they could receive 5 years of commission in one go at up to 95% commission;then charged interest on the new balance for periods of up to 25 years on secured loans even though the maximum benefit lasted for just 5 years………..and the maximum you could claim for just 12 months ! In many cases our client had adequate cover from their employer in any case.
Others felt forced to take the insurance or did not know what it was, whilst others were sold the insurance even though they could never claim through pre-disposed medical conditions or their employment status. We have had lots of cases of PPI being sold to pensioners and to self employed people.
If you have had a loan in the last 12 years from any lender or you have had a credit card or store card in the last 6 years and you think you have had PPI then you need to contact AMS.
When we go for compensation we go for:
1) All your premiums back
2) Any interest that was added onto these premiums
3) 8% of interest added on top of the damages. If our clients had not been miss-sold then that money would have been in their bank gaining interest.
So if you want help re-claiming back your money back then contact ourselves or fill in the contact sheet to your right. The whole process only takes 12 weeks in the majority of cases and the average compensation we are winning back is just over £2000 for unsecured and over £7000 for secured loans.
Everything is done on a NO WIN NO FEE basis so you have absolutely nothing to lose and our fees (25% and NO VAT on the entire benefit we win back for you) is taken from the compensation won – so literally you pay zero in additional fees and there is nothing at all upfront to pay.
If your in debt, getting back compensation for miss-sold PPI could seriously reduce the level of your indebtedness and get you free from debt and the pressures of debt much sooner.
On top of this the whole process takes around 15 minutes per claim and we can visit you at home if you prefer, do the whole thing over the phone or you can pop down to our office in Newry.
