A London man is celebrating after financial experts Brunel Franklin took First Plus to task on his behalf over a mis-sold PPI (payment protection insurance) policy on his personal loan, helping him win just under £7,000.
Simon Andrews, a security guard from north London, first complained about his PPI policy to Brunel Franklin back in January and now just a few weeks later, Simon is holding a cheque for £6,858.91, which will go a long way towards making up for a particularly stressful time in his life.
After seeing many adverts about debt management through loan consolidation and how it can cut your costs, I decided to approach First Plus for a consolidation loan, explained Simon. It was all sorted out on the phone and reducing my monthly payments seemed a great idea. The PPI appeared to be automatically added on to my agreement, and having already spent some time on the phone sorting it out, I didnt think to question the PPI element.
As a security guard, Simon works in a very stressful job and it was only when seeing other adverts for mis-sold PPI that he began to think about his own policy and made the decision to contact Brunel Franklin to see if he had a claim.
Given the stresses of my job, I could never have done all the chasing up on this myself, so it was important to have a company on hand who could do all that for me, continued Simon. I am really pleased with the PPI compensation and I couldnt have done it without Brunel Franklin.
Sally Bowyer, managing director of Brunel Franklin said: We are pleased to have been able to help Simon and others like him get the PPI compensation they are entitled to, and it stresses just how careful you need to be when taking out loans and credit agreements, particularly over the phone. It is easy to rush things over the phone and all too easy for the vendor not to make clear the all important detail of the policy. It really does pay to check the small print.
Many clients have taken out consolidation loans to solve their financial problems and have unwittingly signed up for more debt in the shape of PPI premiums, said Sally.
The average PPI compensation win handled by Brunel Franklin across all types of PPI policies is in the region of £2,200. Brunel Franklins largest ever PPI win of any kind a staggering £27,000 payout against another First Plus policy back in 2009.
In all cases is the responsibility of the vendor to ensure the policy they sell is the right one for you at the time of sale. If you didnt realise exactly what you were being sold and you have been paying for policies that werent fully explained, there is a chance you may have been mis-sold a policy, concluded Sally.
To find out if Brunel Franklin can help you get compensation against a mis-sold PPI policy, just log on to www.brunelfranklin.com and take the simple 60-second test. Alternatively, you can telephone 0800 051 5451 free of charge.
Tel 0114 275 6996
Mobile 07930 697773