Do You Want To Know How You Can Claim Your PPI
PPI is essential for people, who apply for loan or mortgage, so that they can pay back their due payment even in case they lose their income due to any reason. It is however not necessary for every individual, particularly if a person is self employed or a student or if he is a pensioner. These people are not entitled for PPI cover.
However, most of the bank and other lenders have sold the PPI policy and that too without taking their consent. A majority of borrowers do not know that they are making payment for the premium of PPI policy along with their repayment dues. Therefore, in case you are not eligible for PPI plans then you have a legal right to reclaim your premium.
In case, you find any kind of wrong representation in your PPI policy then also you are legally eligible to get your PPI refund back. You must claim your PPI premium from your bank or financial institution from whom you have obtained your loan. Some people are afraid to make their claim because they do not wish to get into any kind of legal hassles.
However, if you take help from any good legal company then you can get back your dues without facing any kind of additional problem. In order to claim your money you need to follow certain important steps.
Hire a legal company
If you are reasonably convinced that you are a victim of mis sold PPI plan then you must contact and seek legal help from any good attorney or a legal company. Legal experts can explain you all the necessary steps that you have to take in order to claim your money back. They will also help you to prepare the necessary papers that are necessary in order to represent your case. So, you must verify the credentials of the legal company before you hire their services.
Verify your Claim amount
After you have selected your legal company then the next thing that you have to take is verify the exact amount that you are legally entitled to claim from the bank. You can take the help of a legal representative - who will help you to assess your due payment. You can also seek the help of any other audit professional to verify your exact amount, which you are entitled.
If you get your claim amount properly audited through some professionals then your claim amount can be settled quickly without raising any unnecessary questions.
Receive your claim amount
If the above two steps are done in correct manner then you can hope to get back all your dues within reasonable amount of time. Time will also depend on the type of your PPI policy and the condition applied while purchasing your PPI plan. You have to be bit patient as your refund will surely come within due course of time.
Many people are losing their money, as they are ignorant about the proper procedure. By following the above steps you can easily reclaim your money of mis sold PPI.
Rules for Investing to Build a Portfolio of Safe Investment
People who are new to the process of making and managing investments frequently have more than a few apprehensions concerning investing. They believe that they will never learn, since they did not invest. Of course the terrible and sad stories of investors who lost their life savings on some bad investment deals don’t help people to feel any safe when mapping out how to invest.
Rules for Investing to Avoid Pitfalls
Investing may appear overwhelming for many people. Probably you have tried it at one time or the other and failed, or maybe you are just afraid of losing your money. You simply need to be familiar with main pitfalls and always avoid them in order not to lose any capital.
The simple and reliable rules for investing are as highlighted below.
Develop Suitable Investment Plan
For successful investing, make sure that your financial advisor draws up a suitable investment strategy that includes your time frames, risk profile and financial goals for you. As foolish as it looks, a lot of people plunge head first into investing without working through these essential issues thoroughly.
Your investment plan will ensure proper level of growth for you in order to invest wisely. In addition, your investments will need to be safe and easy to manage. Identifying what type of an investor you are is the first step in developing suitable investment plan.
Don’t invest all you have in one type of Investment
Some obvious advice is that you must not put all your eggs in one basket. You need to diversify in order to find something to fall back on in case one investment fails. A lot of people believe that they are on the right course when they settle the mortgage on their family home and then buy property for investment purposes. Just like any other type of financial decision such as a loan, credit card or pay day loan, it carries with it some type of risk. What happens if you invest all your money on property and the property market collapses? The outcome is very risky.
Build in Proper Timeframes
Successful investment timings are in two ways. The first method is to always pick low-end of the market to buy and the high-end to sell. However, this is very difficult to do. The second method is to select good investments and stick to them over a long period of 10 years or more and ride the waves of the market. Choose the second method for easy and safe investing.
Stay Away from High-risk Investments
High-risk investments include highly speculative stock, risky business ventures, tax avoidance schemes or other businesses that promise unusually high returns on your investment. Keep away from them so that your investment will not collapse.
Stay away from Borrowing for your Investment
You must keep away from borrowing for your investment even though “gearing your investment” was advocated by some financial advisors. Gearing your investment can be full of danger. Gearing means to borrow. If borrowing for investing takes you over your fixed margin, you will be cutting it too fine, most especially if you lose your current income level.
Stay with the Traditional and Known
The best and surest investments are shares, property and fixed interest. Have a safe plan you are familiar with to work with, work out the optimum mix for your investment profile and you can never go wrong.
Before investing your life savings in a particular investment venture, make sure you learn how to invest. Those investing huge sums of money will have no shortage of those who want to teach them how to invest. The above rules for Investing to build a portfolio of safe investment will take you to a greater height if you obey them.
Nowadays several individuals are trying to claim their PPI from the money they borrowed as loans and credit cards and mortgages. PPI is a insurance policy, which comes as a package with the loan to safe guard you in situations where you are unable to make the minimum payments like illness or mishaps or unemployment. On such occasions the insurance takes care of your payments for about a year.
When can you claim your PPI?
You need to understand if you are eligible to claim your PPI. There are several occasions in which you can claim your PPI, they are:
Before going ahead with the claim procedure you need to have a fir idea on how much money you actually would get in claiming it for which you need to understand the way the PPI was sold to you. The options are:
There are several companies and details available online, which offer a PPI calculator. You can check one of these sites and use the tool to calculate the amount. Most often, these tools are found on the websites of companies, which help you in reclaiming your PPI. Though it is simple to calculate the PPI claim amount, it’s not easy for you to directly handle the situation.
What you actually see might not be the amount you get as this claim procedure involves several factors, which needs in depth analysis. Therefore, it is best to get in touch with a PPI claims company to help you in the situation. They normally charge 10% vat and sometimes up to 30% too, but they have the expertise in this field.
Since there are a number of companies available in the market that help in claiming the PPI amount, it is better to be cautious. It is recommended to check with friends, browse discussions and forums related to PPI claims and then choose the one, which is professional, proficient and trustworthy.