| £40,000 PPI settlement won by Chester Law Firm |
A CHESTER law firm is advising people that believe they may have been mis-sold payment protection insurance (PPI) that they can get redress from lenders.Advice: For help with Mis Sold Mortgages and Buy to Let or Sub Prime Mortgage Compensation please call 0800 043 1683. In recent days, the firm has won a £40,000 out-of- court settlement on behalf of a client who believed they had been sold PPI without it being properly explained. The unnamed client had taken out a series of loans with PPI attached to each.
On one loan, nearly £11,000 was charged for less than a year’s cover. The purpose of PPI is to protect borrowers against payments in the event of an accident, sickness or unemployment, although in many cases it frequently fails to do so. Paul Brimelow, head of litigation at Knight McGoldrick, said: “Many clients have been sold PPI without understanding the consequences. “The most frequent problems are caused by single premium policies which have been purchased for a large lump sum which is then added to the loan.” Source: Liverpool Daily Post |
£1,431.76 from Citi Financial