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Missold PPI is set to be the biggest financial scandal in recent times. There have been, and will be billions paid out in compensation for blatant overcharging on bank accounts. The figure for the refund of PPI policies will make this seem like a minor inconvenience.

For years lenders have run an elaborate con game by selling payment protection policies alongside loans. A huge unfair profit centre for the lenders and a nigh on worthless exercise for the consumer. Various consumer groups and regulatory bodies have shown that as many of 85% of borrowers who attempt to claim are flat out refused.

There are a multitude reasons for this. The main reason is that the policies that are sold are not designed take individual details into account. Instead they are sold to realise the maximum profit for the lender.

There is a ‘one size fits all’ approach to the sale of the policies. That means a 30 year old clerical worker is charged an identical rate to a 60 year old airline pilot. The policies are clearly not intended to protect the borrower but to increase the lenders profit margin.

Even worse, the policies are sold to clients who will never, ever be able to claim. This is why the process is referred to as misselling.

For instance, PPI policies are meant to cover loan repayments for the borrower in the event they are involved in an accident, fall ill or are made redundant. This sounds like a great idea BUT if the borrower cannot prove income or have fluctuating earnings any claim on the policy will be refused.

So, if you are self-employed, a company director, a temporary, unemployed, a housewife or employed on short term contract your claim will almost certainly be refused.

All the money you have been charged for the policy and all the interest you have paid is the same as just throwing your cash away. Your bank balance gets thinner every month while the coffers of the lenders become overloaded.

Thankfully the whole practice has been outlawed from May 2009. The time to reclaim all your money is right now.

At Free PPI Claims you can reclaim all your mis-sold PPI, plus interest, plus compensation, all for FREE. Specialists solicitors will run your case and draw all costs from your lender so you benefit from a free service. You keep 100% of the compensation GUARANTEED. Claim all your money back now.

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