Mis-Sold Insurance Protection

You cannot open the paper or switch on the radio without hearing stories and reports about the new opportunities that are opening up for reclaiming mis sold insurance protection.

Payment protection insurance was a device used by banks and credit card companies to generate huge profits. On the face of it, it provided cover in the event that the person taking the insurance, could not make repayments on the loan for reasons covered by the insurance.

It was standard procedure for a bank or card company extending credit to sell the insurance very hard indeed. If one considers that 90% of the profit on the loan could have been made up by the insurance, you can see why. From an agents point of view you can see why they would want to push it if they could earn considerable commission by making sales.

As a result of these pushy sales, the FSA has intervened and meted out huge fines on a variety of lenders who it found had mis sold insurance protection.

There are now companies which exist whose sole purpose is to help people, who have been mis-sold insurance protection to recover their payments and interest back. These companies often work on a no win no fee basis. If you want someone to get you back money to which you may be entitled, look for a qualified solicitor, with a professional background.

Do not delay making your claim for mis sold insurance protection as generally it is only possible to look back six years. Do not keep this information to yourself, tell all your friends and get them to recover what is rightfully yours.

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