Press Release: February 03, 2010
Faced with some unexpected bills and the rising cost of living, father-of three Trevor Lynch of Streatham took out a £48,000 loan with Paragon which used brokers Central Capital/Central Trust. The company arranged the loan over the telephone and offered him more than three times the amount hed asked to borrow. PPI was included automatically and Mr Lynch says he was told hed get the money back if he didnt make a claim. However, he wasnt informed that the policy was optional or that the cost would be added to the loan and interest charged on the total amount.
It was only when paperwork arrived detailing the payments that the scale of the problem became clear. It wasnt explained properly to me at the time and I wasnt told I didnt have to have it. It just seemed to be tied in and part of the agreement. We needed the money so I felt I had no choice, explained Mr Lynch, 45.
Despite working long hours as a gardener and mobile groundsman, the high monthly payments continued to put a strain on the familys finances until Mr Lynch surfed the internet looking for help. He logged on to Brunel Franklins website, took the companys 60-second online test and was relieved to learn he had grounds for compensation. It was all very easy after that as the company did all the legwork and saved me a lot of time, trouble and worry, he said. I couldnt have reclaimed the money on my own as it was so complicated and needed handling professionally. I was very pleased with the service and delighted to get my money back. I know people who are in a similar situation and Ive recommended Brunel Franklin to them. I now feel I have been a bit nave not to realise the PPI was optional, but you dont always get round to studying the finer details and small print; you expect people selling you financial services to explain everything, I trusted them he added.
Sally Bowyer, managing director of BrunelFranklin.com, said Mr Lynchs experience was far from unusual.
Vendors of financial products have a clear responsibility to explain to customers exactly what is being sold but we see thousands of cases where this just hasnt happened. It is completely unacceptable to add PPI automatically to a loan and leave people with excessive payments that plunge them deeper into debt, she commented.
Anyone who wants an insurance policy has the right to shop around for the best deal but many lenders choose not to point this out to their customers. Fortunately the culprits are now being forced to pay up and mend their ways. People who think they have been mis-sold a policy should seek expert help straight away to recover their hard-earned cash, she added.
BrunelFranklin.com has vast experience of securing compensation from financial institutions and has won over £100,000,000 for its clients. If you have grounds for a claim, it will be pursued on a no-win, no-fee basis by a team of experienced staff dedicated to achieving the maximum payout possible.
To find out if Brunel Franklin can help you, just log on to http://www.brunelfranklin.com and take the simple 60-second test. Alternatively, you can telephone 0800 0515451 free of charge.
Tel 0114 275 6996
Mobile 07930 697773