PPI: Has Your Payment Protection Insurance Premium Increased Without Your Knowledge?

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 9, 2009 -- Written by: www.challengeyour.com
As many as 2 million individuals have possibly seen their Mortgage Payment Protection Insurance Premium increased without their knowledge.

It is our understanding that a number of companies have in fact increased the Premiums associated with mortgage PPI arrangements while at the same time reducing the cover available as they have become more and more concerned about excessive claims.
How do they have the right to do this?

A number of mortgage holders in the UK fell into the PPI insurance trap because many mortgage companies automatically included them in their mortgage arrangements. As a consequence, a number of PPI mortgage insurance arrangements were in effect irrelevant to many customers as they were paying for cover which they already had.
What can you do?

It has been widely published that millions of individuals have been mis-sold the Payment Protection Insurance which was either attached to a mortgage/loan or credit cards.
Challengeyour.com, a London-based claims management company says that as much as eleven billion pounds is owed to millions of consumers who've taken out Payment Protection Insurance policies to cover their loans, credit cards or mortgages.

"The fact is, many people aren't even aware they can claim money back and as a result, financial institutions are getting away with it, inflating their already enormous profits," says Challengeyour.com's director Adam Thomsett the driving force behind a new national campaign to help re-unite customers with money they should probably never have been talked into paying in the first place, for payment protection which in many cases, is likely to be almost worthless.

The company will investigate individual claims and only charge customers 25% plus Vat when the loan firm pays out, avoiding the need for costly up-front legal expenses. Current statistics show that one in two policies have been mis-sold and Challengeyour.com believes that this figure will increase providing individuals make a claim.

Note: to calculate how much can be reclaimed, use: http://www.challengeyour.com/ppi-calculator.php

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