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Loan payment protection, the pitfalls
Payment Protection Insurance (PPI), loan payment protection or loan
insurance, is designed to cover the cost of your loan repayments should
you become unemployed, or unable to work due to illness. The problem is
that much of it is hugely overpriced and may not even cover you in the
way that you expect. In fact you may have this overpriced insurance and
not be aware of it! Double check your loan documents now! If you have
PPI, our experts may be able to show you if you have a valid claim for
mis sold loan insurance, which means you could be in for a wind fall.
Will a mis-sold loan insurance claim affect my credit
rating?
No, a mis-sold PPI claim won’t adversely affect your credit rating.
Instead it could substantially reduce the payments on your loan and your
monthly outgoings by a surprising amount and give you a substantial
payout. It won’t adversely affect your loan either and if you feel you
need it, you should be able to get replacement insurance at a fraction
of the cost.
Call now and talk to a member of the team
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