Social Lending

Thankfully Social Lending Loans Don’t Require PPI Claims – But You Still Might be At Risk!

Social lending is here to stay, and many people have been enjoying the fruits of this “revolution”. So now is the perfect time to make sure that you focus on what matters — the little details. The things you might not have considered before someone mentioning them to you. Things like payment protection insurance, for example.

Payment protection insurance is supposed to be a plan that will take care of your outstanding loan payments for up to 12 months while you find work or get through another financial hardship. However, many people have woken up to the fact that PPI just isn’t doing that for them. They file claims and expect to be taken care of, only to find that their claim was denied. It’s been shown that over 95% of the PPI that was sold to customers is not suitable for the person due to an excluding factor. Self-employment or even receiving other sources of income while you’re unemployed can deny you your PPI claim. That’s not something that makes people feel really good about the insurance plan, does it?

Well, one revolution usually bleeds into another. If you feel like you were deceived by payment protection insurance, you can always fight back. PPI claims are definitely the way to go, even though you might feel like it’s silly to make waves. Most social lending loans aren’t going to have PPI attached to them, but that doesn’t mean that you’re out of the water yet.

You see, it’s all about getting representation and fighting back against the lending institution that let you enter into the PPI scheme in the first place. You are entitled to compensation, and you need to make sure that you fight for that right. Sure, it can be a little awkward being the “squeaky wheel”, but we all know which wheels get the grease, now don’t we?

You are also not alone in this journey, either. A lot of people are waking up to find that they’ve been deceived by payment protection insurance, and they’re pretty angry. Of course, it makes sense that they’re angry — they’ve been paying into a system that isn’t going to take care of them. They’ve been sending extra money towards loans thinking that if the worst really does happen, at least they have peace of mind. When someone takes away your peace of mind, things can get really bad.

Take back the power today and file a PPI claim — why wait another moment?