The cost of a scam is very high. The payment protection insurance scams that have been going on for some time are a great example of how high the cost is. First, you pay for the policy that is meant to help you pay your bills even if you get made redundant or otherwise have a source of income stopped. Next, you end up losing that income, only to find out that the policy has a loop hole or is even bogus entirely. Then, when you really need the money for your bills, you find that you are nearly broke after the payments that you have made for your PPI policy.
This is a tough position for any person to be in. However, there is help. When a person sells this sort of policy, they may be offering what is called a mis sold policy. A mis sold policy is just what it sounds like. It means that the policy was sold to a person who more than likely did not need that policy at all. They were the target of a scam. The scam artists will seek out marks who have a good job. They know that the mark is a good person who just wants to keep current on their bills.
The scam artist will then claim that they know a lot of people are going to be made redundant, or that the mark is otherwise at risk to lose income. They will scare the mark into buying a policy that offers safety. That safety is false, and it means the policy was mis sold.
If you feel that you have been mis sold on a policy such as this, a PPI refund may be possible. A PPI refund is a formal way to seek the recovery of your premiums paid for the PPI policy. You may be able to get back your cash spent when you file for a PPI refund.
Not every PPI refund claim is a winner. However, if you have a valid case for why you feel that the policy you were sold was inappropriate, your PPI refund claim has a good chance of being successful. Once you show cause for your PPI refund, you are coming out ahead on two fronts. First, the PPI refund will get your money back. Second, it will bring a scam artist to light and expose them for being crooks.
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