If you currently have or have had a credit agreement with a known financial institution or lender, you most likely have been sold Payment Protection Insurance alongside it. If that happened, then you also stand the chance of having been tricked into buying the policy without knowing what it entailed.

The purpose of selling PPI is to have your repayments covered in times when you became unable to pay due to sickness, accident, redundancy, or death. For this reason, it is commonly sold together with any form of credit agreement. However, the way they have been mis-sold in the recent years has become such a fiasco that potentially millions of consumers are now filing for a reimbursement and compensation.

You could be one of the people who were mis-sold PPI, and here’s your chance to reclaim whatever amount you paid for it, including the interest it could have incurred over time.

While some may be aware of having bought the policy, you may be unaware it has been automatically added to your account. So before you start reclaiming, you need to establish first whether you have PPI or not to avoid any impending trouble. This will make the ppi claims process a lot more seamless.

Start with checking your paperwork. If PPI was applied to any of your credit agreements, your statement, receipts and relevant documents should show an indicator that it was being paid for. A policy certificate, containing the terms and conditions should also have been sent to you following the sale. If you have lost these documents, you can still request for a copy from your provider or lender.

If it happens that you forgot who your lender was, information about it can be retrieved through your credit score records from the credit bureau.

You may be up for a challenge of your account was older than six years. The law mandates financial institutions and the credit bureau to keep your record on their database for only as long as six years, following the start date of your account or the last activity recorded on it like a full repayment for the debt. So whatever documents you have kept safe should be sufficient to back up your PPI claim.

As soon as you have the paperwork ready and you have established you indeed bought PPI, you can write to your provider stating your intent to claim your money back for the policy, and the interest it may have incurred. Also, include in your letter your reasons to believe that you were mis-sold the policy. Here are a few situations that may be applicable to your case:

  • You did not realise until later you have PPI because it was automatically added to your account and opt-out was not made clear.

  • You were led to believe that it gives you better chances of a higher loan amount or credit limit if you took out PPI alongside the finance agreement.

  • The lender strongly urged you to take out PPI even without clearly stating demands and needs provision.

  • You were not informed of limitations and exclusions on the terms such as age limit, residency requirement, pre-existing medical conditions, employment status, and the likes.

  • The lender did not talk to you about the cooling-off period which entitles you to cancel at no cost.

  • They did not properly inform you of the total cost of PPI or what you will be charged of in the future.

When the financial institution receives and acknowledges you claim, they will then review the case and come up with a decision within the next 6 or 8 weeks. While waiting, you can get in touch with them to follow-up if you feel that it shouldn’t take that long.

If your provider failed to contact you with a decision after that time frame, or you were unhappy with their decision, you can bring the case over for a thorough review at the Financial Ombudsman Services. File a complaint against your lender to the FOS and they will then make further enquiries surrounding the lender’s decision. The Ombudsman will then decide and let you know whether to uphold your case or not.

Even though there is no guarantee that you can claim your money back, the decision to take it up to court will be up to you. If you strongly believe that the way you were sold the product was unjust, and you’ve got a strong case against your provider, it is worth fighting for. Soon enough, you might get reimbursed for the money you used to buy the policy and get the interest it incurred, too.

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PPI Claims

PPI which stands for payment protection insurance and over the years has been sold alongside other financial products such as loans, mortgage and credit cards and can be found on overdrafts and hire purchases.

PPI is a insurance policy that was used to protect the policy holder/holders from certain situation where they wouldn’t of been able to make their repayments for example if you had a loan and you lost your job and you wasn’t able to make your repayments then you would make a claim on your insurance policy (PPI) and if you meet the requirements then the protection policy would then make the repayments for you for a set period of time general 12 to 24 months this can be a lifesaving policy as it gives you much need time to make the necessary arrangements to pay off your loan or to make the repayments once the policy finishes.

As you can see PPI can be a very handy policy to have but what happens when you try to make a claim and then get rejected because you don’t meet the requirements. Obviously you’re going to be worried at this stage as you find the insurance policy that you thought was going to cover you and now you find out you won’t and that you need to continue to make repayments yourself. As time went on you may come back to this moment and I think why was I sold a policy I wouldn’t of been able to make a claim on in the first place. It at this point you may come to realise that you may have been sold a product that wasn’t fit for purpose and the only reason you was sold the policy is so the lender could make money off you.

As now I can imagine you can be pretty mad for the lender to do this but rest assured you aren’t alone in this matter and you can seek a reclaim. With thousands of people being in the same situation it didn’t take long for the Government to become involved and when the scale of this miss-selling came to light the government then set the FSA on the case which set about finning the companies who had made these miss-selling and brought about new regulations and charged the FOS to deal with any claims that have been rejected or the lender hasn’t responded to as a way of helping settle these disputes.

Also to help the public claims management companies have begun to spring up to help people reclaim their money for a small fee in which they receive when you are awarded compensation and too make sure that these companies operate fairly they have been put under the regulation of the Ministry of Justice to make sure that they offer the best service for the customer.

If you would like to be put in touch with a claims management company then just click on the link provided to be put through to one



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How to get a good credit history

When it comes to getting a good credit history so people can see it being a nightmare and take a long time but the truth is that it can take less than you think. I am not going to show a few ways in which people can get a good credit history.

The first step would be to not max out your credit card as this will be reflected on your credit history showing you to be a potential high risk client even if you make the payments and clear your balance every month its showing that you are on the borderline potential risk.

The second step would be to set your self a limit on you credit card this should be around the cost of 50% of your limit. When it comes to making payment make sure you pay above the minimum payment amount this way you can avoid high APR charges but do you best to wipe away all your debt first.

The third step is to make sure that your bank account will never run over or go into areas and make sure that you have a saving option with your bank that way you can put money away in savings this will show that you are a reliable person that doesn’t let themselves be put in areas and if a issue should arise you have the financial need to meet this issue.

Just be doing these few method you can be on the way to a healthy financial future.

Here is a example of Noddle credit report.If you wish to join noddle click here and follow the steps.

You can also see my other post here for tips on how to get a loan and here for ways to save money on your hobbies.


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Reasons For Claiming Back PPI

Payment protection insurance (PPI) is getting a lot of flack these days because it provides a wide avenue for scams to take place. While the insurance policy can be helpful for some people, especially those who are worried about unemployment or other unforeseen circumstances, it has been found as a tool used by unscrupulous moneylenders to extort money from their clients, and they actually can get huge sums of money as a result of this.

If you feel that you have become a victim of mis-sold PPI, fear not, because it is possible for you to refund your money, plus interest.

The first thing you will need to do is to check whether you actually have PPI. While this might sound to be an obvious thing to do, there are actually some people who don’t know that they have purchased this insurance policy, as they were deceived by the money lender into getting it. Try to get the statement of your loan and check to see if you are being charged for PPI.

Once you have established that you have PPI, you will need to check if this has been mis-sold to you. There are various ways this can be done. As already mentioned, PPI can be bought by customers without their knowledge. This already makes them eligible for a refund. Another circumstance where PPI can be claimed is if the borrowers were told that PPI is compulsory, because it is actually just optional. The other common mis-sold PPI cases are the ones where the people are actually ineligible for the insurance policy in the first place. This includes people who are self-employed, unemployed, not within the eligible age range, or have a pre-existing medical condition at the time the loan was taken out. Buying a single premium policy can also make you eligible to make a claim to get your money back. Lastly, you will have a greater chance to get a refund if the lending company has already been fined for mis-selling PPI policies in the past.

These are the common circumstances where you can claim back PPI. Check to see if you are eligible for any of these to save yourself from headaches and wasting money.

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How to save money on hobbies

When it comes to hobbies we would all like to save  money on it as now a days the prices for living just keeps going up and up. But help is at hand with new technology today we can do hobbies as a small fraction of a price for example is you are into your fantasy or enjoy role playing then why not join one of the many online playing game that are out their ranging from warhammer online to world of war craft. These new online gaming has enabled people from all over the world to join and go on adventures together and only cost a small subscription fee a month and a good Internet connection.

Another hobbie that people are finding is a real cost is computer gaming when if you look around or what for a small period of time you can get games at a small fraction of the price and if you are finding the Internet cost of the Microsoft xbox 360 too much then you can just trade in a get a Sony PlayStation 3 were there is no charge to use this service.



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Mis Sold PPI Impacting People and Their Finances

Having a PPI policy might be having a negative impact on your finance as you might actually have a mis sold PPI if you’re having difficulties with it and if you actually have it then it’s best you learn more about making PPI claims. This is popular because this is convenient among consumers and banks alike, and these are sold as an add-on to a loan or an overdraft product. If you make one, you can get a hold of your PPI refunds as soon as possible.

The mis sold PPI continues to influence a lot of people and their finances, in fact 40% of the population having a PPI have no idea from that they had one from the start.  If your broker has not explained fully what this policy is all about and at the same time you are paying a lot of money for it, then it is possible that you have gotten yourself a mis-sold PPI. Supposed to be a PPI should be sold with proper knowledge of the consumer and there should be an assurance that you, the consumer, must have understood everything that must be known when it comes to holding a policy such as this one. Being caught in a situation such as this, it is suggested that you make a claim for your PPI refunds.

You will need your PPI reclaim if this mis sold PPI has successfully taken so much from you. Making a PPI claim is your way of finding a solution to this financial injustice. In the total of 20 million of policies sold, and you being one of those who purchased it, you must be thinking if you do have a mis-sold PPI. If it is confirmed then it must be a burden for you to know that there are also thousands to millions of people who are experiencing this and are making PPI claims because of it.

Making a claim for your PPI refunds might be a challenge, but it will greatly give you the thing you properly deserve. Rest assured, you will be in good hands if you take that action claim justice for what you are suffering right now, financially that is. With this, you can reclaim hundreds to thousands of pounds and knowing that this is your legal right would be a great plus in your part.

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Tips in taking out a loan

I am going to go through a few basic tips on how to pick the loan that is right for you.

The first thing you will need to look at is how what do you intend to use the loan for extension on a house? a car maybe.

The first you will need to make sure you are able to make the monthly repayments and have full intention on repaying the loan back.

The main thing you will need to look out for is how much are you going to be paying back for the loan and do you think that it is a reasonable amount and if the time period is the right one for you.

It is very important to make sure that the company you are borrowing off is a legitimate company you can find this out by seeing who they are regulated by if you can find that on their website call them and as who they are regulated by all financial companies need to be regulated by the FSA which means Financial Service Authority and if a company is not regulated by them then they are operating illegally.

Once you have established who you want to get the loan with you then need to make sure that there aren’t any hidden charges and that you haven’t been mis-sold any financial product alongside it like payment protection insurance.

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Starting Your Own Business

Life can be unexpectedly cruel. For example, the job you’ve held for many years can suddenly be dissolved, leaving you unemployed and at a loss for how to survive. Has the idea of a home-based enterprise ever occurred to you? Here are helpful pointers on how to achieve self-employment success.

Speak with a business attorney before starting a home business. The attorney can brief you on laws that apply to your business, helping you avoid problems. A legal professional can inform you of the laws in your state, which you must act in accordance with to avoid noncompliance issues.

Accurate record-keeping is crucial for a home business. Make certain you keep receipts for expenses associated with your business. This will also help tax season go more smoothly, and protect you in the event of an audit.

Mix business and pleasure when you go on vacation. You can actually deduct a business trip from your taxes, which isn’t similar to a regular vacation. One way to take a relaxing vacation and still get the business tax deduction is to pick a vacation spot where a seminar is being held. This gives you legal cover for deducting the trip from your taxes.
Knowing how to market online is the key to good profits. There are many ways to bring customers to your business, including blogging, emails, participating in forums and writing articles.

Use everything at your disposal to save some money, especially when you’re just starting your business. Working from home is itself a cost savings, as you don’t have to pay extra for office space. Before you make any purchases, it’s important that you really consider whether or not you need the item you want to buy. If your costs are low, you can pass the savings to your customers by offering them a low price on your products.

While reading this article, hopefully you were inspired to take your life into your own hands. You were given a lot of tips about starting a home business, and now is the time to grab the bull by the horns and go for it! You can keep this article for reference to read anytime you are not sure what the next step you should be taking is.

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PPI Claims: Things You Ought To Know About Reclaiming

UK banks and credit providers have been under increasing pressure to clean up their act amidst various scandals that have been making front page news. Whether it’s bonuses or mis sold financial products, it seems as though we’re never too far from a scandal – the biggest in recent times being mis sold payment protection insurance or PPI.

It is estimated that approximately 20 million policies were mis sold, generating over £4billion a year for the banks. Borrowers are now being encouraged to submit PPI claims and reclaim their money.  But what are the key concerns and issues we have to go into with these PPI policies and how can we claim back ppi?

Before plunging into the subject one must actually know what does PPI do? It is an indemnity product where it protects its policy owner from paying his/her debt, in which the financial body that covers the policy user will pay it for a year. The residual balance would be the liability of the individual, in which he/she has to find means to pay for it. The cover policy will take its effect given the situation that the individual can’t take home money through salary or wages. This can be alluring; however, because there are circumstances where this insurance policy will achieve its effect as well as the austere terms and conditions, hardly any people would want to get this.

On the other hand, there are lots of people who own this insurance good in which countless of them have no authentic use for it, which is why frequent PPI refunds spur out of nowhere. Since the insurance product is sold through unlawful ways, in which it is clandestinely added to the loans or other insurance product that a client of a financial institution gain, there are so many cases that people try to get their money back. The majority people in reality don’t know that they have been duped, and once they inspect the terms and conditions of their loans and insurance product they get, they would actually be shocked that they own a mis sold PPI policy.

Because of these aspects, actions are taken by the victims, in which in the form of PPI claims. And since most of the banks and other credit providers wouldn’t settle for a settlement, many individuals resort in filing PPI refunds against them through court rooms.

In preparing a PPI reclaim, one must have the essential evidences that could hold up his/her claims such duplicate of the payments made as well as the contract bonds that has been made by the individual to the financial corporation. Through this, getting help from a compensation solicitor must be made in order to speed up the process as well guaranteeing that your get the precise amount that you paid with these business companies.

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Home Buying Tips For Your Big Purchase

Though there are parts of the real estate market which are relatively safe, there are likewise some with major pitfalls. You should read this article before looking for a home to buy to save yourself from many mistakes.

If the home needs a few fixes, it may sell for a much lower price. This gives you great negotiating power, meaning you will save a lot on the home purchase. You can then work on the home at your own pace, making the improvements as you see fit. You will be able to design a home that you want to live in, and build equity with every improvement that you make. Make sure you can see the potential of the house rather than focusing on its drawbacks. Your dream house might just be a diamond in the rough.

Home Buying Tips

One of the first things to do when moving into your new home is to make sure you are adequately protected by home insurance. If you put this off until after you settle into your new home, something could go wrong because of the unpredictability of Mother Nature.

There are things you can negotiate when trying to land a real estate deal. See if you can get the seller to contribute something to the closing costs or pitch in with another financial incentive. It is common to ask the seller to “buy down” the interest rate for a year or two. However, if you add financial incentives to the offer, a seller will be less likely to negotiate the selling price.

If you have a specific neighborhood in mind, you should familiarize yourself with other houses in the area. You should not automatically go after the largest and most expensive home in the neighborhood. It will be hard to sell a larger home, because the property value will go down due to homes in the area that are smaller.

When considering relocation, look no further than the Internet to find all the pertinent information about the town. Lots of information about neighborhoods can be found online. Even extremely tiny towns have information available online. Consider the salary margins, population and unemployment rate of your desired location before purchasing a house there so you ensure that you will love where you live.

When it comes to doing things incorrectly, your odds are around 10-to-1 of making a poor decision that will end up costing you a lot of money, or even the home you purchased. The advice below can help you to make confident real estate decisions. All that’s left for you to do is capitalize on the opportunities your new knowledge will make available.

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