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The concept behind Payment Protection Insurance (PPI) is that if you take out a loan and then can’t pay it back because you got sick, injured or lost your job, then the PPI insurance would kick in and cover your payments until you recovered. It sounds like a great idea, but a scandal has erupted over the ways PPI insurance was sometimes mis-sold to people who had little or no chance of ever meeting the eligibility standards to collect. As a result lenders have been forced to spend billions for PPI claims they at first failed to honor.

A common way of tricking people into buying PPI insurance they didn’t need or had small hope of ever getting a PPI refund from was to mislead customers into thinking the insurance was legally compulsory when it was not. Another scam involved selling policies that failed to cover the full term of the loan, potentially leaving customers without protection when they needed it most. In other cases people were charged for the insurance without ever being told that they bought it, so they never filed a PPI claim even when they needed it and were fully eligible.

But what can you do if you discover that you have become the victim of a PPI mis-selling scam? Fortunately there are companies out there that specialize in PPI claims. They can pursue your PPI claim for you and help you to receive just compensation for the PPI premiums that were paid. Considering the time and energy it would take to pursue your PPI claims yourself, this is usually the most sensible and effective way to navigate the process and to maximize your PPI refund.

Another advantage of taking your case to a specialist is that there are often limited windows of opportunity to file claims and a specialist will know when they are and make sure you don’t miss them. Often PPI claims specialists work on a “no win – no pay” basis which means you risk little or nothing if your claim fails. The internet is an excellent way to find a professional claim handling service that will guide you through the process of getting what is owed you. But whatever means you choose to get in touch with a PPI claims specialist, it is almost always the fastest and most effective way of maximizing your PPI refund while reducing your losses.

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