Angry Mis Sold PPI Consumers Turn to Preston, UK Based Premier Claims Plus to Reclaim Their Money

Online, October 8, 2010 (Newswire.com) - Premier Claims Plus was founded on the belief that consumers should not have to go through an arduous process to recover what is rightfully theirs. More specifically, Premier Claims Plus helps UK clients to reclaim mis sold payment protection insurance (PPI) from banks and other institutions which have wrongfully sold the insurance instrument to unwitting consumers. To date, the Preston, Lancashire based Premier Claims Plus has a success rate north of 90% with PPI claims. UK clients who have been mis sold PPI are flocking to Premier Claims Plus to avail themselves of the company's No Win, No Fee and Zero Risk PPI compensation service.

Payment protection insurance is designed to meet payment obligations for an entire year in the event that a person is unable to as a result of an accident, illness or loss of employment. As a financial instrument, PPI is a legitimate form of insurance that many are willing to purchase. At issue is not PPI itself, but rather the manner in which it was sold to UK customers. Mis sold PPI is a huge issue and many UK customers have been ripped off in the process.

PPI is in essence a type of insurance. It may be taken out along with a loan, mortgage, credit card and even a store card. PPI policy outlines monthly payments that must be made to fully, or depending on the terms, partially cover payment due on mortgage or loans. PPI will cover the minimum amount due each month for credit and store cards. Some policies are structured to pay a percentage of the outstanding balance, with the responsibility of the remaining balance staying with the policy holder.

PPI is currently generating a lot of press owing to the abuses taking place in terms of the mis representing, and ultimately mis selling of PPI to an unknowing public. The Financial Services Authority (FSA) has been pursuing alleged abuse cases and fines are being levied for the wrongful treatment of customers. Moreover, the Competition Commission has made a number of demands on lenders following its findings during an investigation of the market. Some of the demands include the ban of sales within a week of issuing a credit card or loan, and the elimination of single premium policies.

In the UK, estimates place the number of PPI policies around 20 million, and those policies are generating approximately £5 billion annually for the companies involved. The lion's share of the profits is kept by the company that sells the loan, and not the insurer. It is clear that sellers have a big incentive to push the selling of the insurance, particularly since selling loans by itself isn't as lucrative. Given that the cost of the insurance is multitudes larger than the interest cost, it is easy to see why many consider PPI the most unfairly priced financial instrument on the market.

"Clients who have PPI on loans, credit or store cards are now realising the magnitude of unfairness to which they have been subjected, and we are here to assist them in any way we can. As long as they have taken their agreement out in the last 6 years we can make a claim for them," explains Tom Jackson of Premier Claims Plus.

About:
Premier Claims Plus specialises in helping clients across the UK with their mis sold PPI claims. With the No Win, No Fee PPI compensation service, clients can be sure that making a PPI claim is quick and easy and with absolutely no upfront costs. Facilities offered include online claim form, call-back service and home visits. Nationwide service.

Contact:
Tom Jackson
(site) http://www.premierclaimsplus.co.uk
(email) [email protected]
(voice) 0800 8499 120