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Credit Card PPI Surprise

Imagine checking your credit card statements because you had an inkling you were paying a premium for payment protection insurance and discovering you had a claim for over £20,000! Well, this is EXACTLY what has happened to a consumer last week. Within 24 hours of submitting PPI Claim Forms he discovered he had been paying PPI premiums all the way back to 1999.

A letter of claim to the lender was immediately sent for over £20,000 re-inforced by an undenieable statement of redress for the mis sold PPI. It is becoming increasingly apparent that more and more credit cards have significant claim values and clients in many cases are unaware of the fact they are able to lodge a substantial claim. If you think you may have paid Payment Protection Insurance on a credit card, loan, mortgage, car finance or store card then you should consider making a claim - you too may discover a hidden windfall!

If you do decide to file a claim, it is crucial to the success of the claim to present the Lender with the clear facts. This can be done be providing a detailed calculation and statement of the precise refund required to place the agreement into the postion where the PPI had never ever existed. The loan can then be redressed accordingly.

This can be an extremely complex calculation which is usually taken on by specialist financial claims firms, specialising in payment protection refunds. Legal validation software systems make clear to the Lender the issues of PPI, unfair relationship and any other breaches which need redressing. It is a case of saying to the Lender 'Here is the preceise amount the client is due, if you do not agree kindly show us your calculation'!

In this way, the message is delivered loud and clear to the Lender that you know your rights and you are fully aware of the amount of redress which is due. After all, if you are going to make a complaint, then should you really allow the company that made the mistake in the first place decide on how much you should be refunded? Find out precisely what you are entitled to and then reclaim it back with the calculations and evidence to support your case.

Payment protection insurance is rapidly becoming the biggest financial mis-selling scandal of all time. Consumers need to know their rights and get back exactly what they are owed. Only by taking into account all the factors can a true amount of redress be calculated and you never know, you may reclaim a substantial sum even as much as £20,000!

About Author Colin Hartness :

Colin Hartness is the Managing Director of Fast Track Reclaim specialising in PPI refunds using bespoke Fast Track Systems. Call 0845 459 8895 or visit <a href="" target="_blank"></a> for details

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Article Added on Wednesday, September 15, 2010
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