Knowing PPI means that you need to know your enemy, how it was created, and how to fight back. If you think that PPI isn’t in your loan just because it’s not called payment protection insurance, you might be in for a surprise. Some people really don’t think about PPI in this way. They only think about the fact that time has passed since they had the loan. They think about the sheer size of the lender, and they realize that in comparison…they are very small indeed. Yet this is the wrong attitude to take. You need to realize that you’re much more powerful than you think. The media has done a great job of replying to the PPI scam — and in a way that has gotten the lenders to pay attention. They know that they need to pay those claims back out. However, instead of just doing the right thing, they’re going to still make people step up to get their money back. This means that if you’re afraid to speak up, you’re going to get left behind.
Let’s go back to talking about those labels. PPI is often called loan care, loan protection, or even loan cover. Either way, this doesn’t mean that the policy is actually a good thing. You could end up paying good money for a policy that was never designed to cover you in the first place. This isn’t to say that all insurance is like that. If you were to get into an auto accident, your car insurance is going to cover you if you have the right policy already set up. To do anything otherwise would end up with millions of insurance buyers throwing their voices towards changing that policy!
What you need to do is take your paperwork in to a PPI solicitor for further review. The legal side of this is a lot more complicated than you could possibly imagine. You need to make sure that your rights are being protected. If you were to go it on your own and then have someone cut you out of the premiums you were promised…wouldn’t that make you feel bad? Wouldn’t that make you feel cheated? It’s just not worth it. You’re a lot better off thinking about the bigger picture, and that’s going to be a matter of getting a good solicitor on your side right away.
Take in what paperwork you can, and explain your case. They’ll take it from there — you can count on that! Good luck!