PPI – Active Legal Services LTD

Each year, enormous profits are generated through the insurance industry from the purchase of policies for automobile coverage, medical coverage, home protection, education, credit security and other domestic or business reasons. Since the purchase of insurance policies are a way of life for everyone, agents tend to push and mislead consumers into believing that a particular policy is mandatory, when in fact it is not. Such is the case with borrowers who are applying for a credit card, mortgage, or a personal loan with a financial institution or creditor. Borrowers are frequently told that approval for credit is contingent upon the purchase of Payment Protection Insurance (PPI), a policy that is designed to protect consumers who may fall into unfortunate times of unemployment, illness, or accident.

Understanding PPI
Purchasing a PPI policy is an option that is available to consumers to help them sustain their credit payments during difficult times. Creditors are aware that since the sell of PPI generates such an enormous amount of revenue, agents go out of their way to sell the product, even under false pretences. Plus, they are offered incentives that encourage selling the insurance at any expense, including failing to disclose any details that will offer the consumer enough information to help them make a decide about the policy. Unfortunately, unsuspecting borrowers are offered the unfair ultimatum of purchasing a policy they do not want, need, nor understand else they may denied the credit for which they are applying.

The Remedy
In the event you have been falsely led to believe that your purchase of a PPI was mandatory, you may be entitled to compensation. In most instances, your money can be restored in as little as eight weeks, so act quickly and call us to file your claim