iSmart Solutions

iSmart Solutions

March 25, 2013 03:00 ET

iSmart Offers PPI Claim Antidote to Budget Gloom

LONDON, UNITED KINGDOM--(Marketwire - March 25, 2013) - On March 20th 2013 Chancellor George Osbourne made his anticipated Budget 2013 speech, and, as always, there are winners and losers for the coming financial year.

Those who find themselves on the losing team may need to look at their own budgets, to see where cuts can be made, in order to make up the difference. This could mean comparing the best deals on energy, insurances and grocery shopping, as well as keeping a spending diary to see if and where they may be overspending.

Now may also be a good time to look at whether a PPI claim could be possible which could provide a lump sum of cash to top up the 2013 finances. Anyone who feels that they may have been mis-sold Payment Protection Insurance can apply to claim it back from the bank or financial institution involved.

Those unsure of how to claim or whether they can should take a look at the iSmart PPI Solutions website for advice and assistance - and the time to do it is now. The end of this coming financial year could spell the end for PPI claims, if the banks have their way.

The British Bankers' Association is currently in talks with the Financial Services Association about setting a PPI claim deadline, in order to stem the tide of claims that have flooded mis-selling banks in recent years.

"We have had initial discussions and are prepared to consider the merits of this and other options," the FSA said in a statement. "However, our key priority is to ensure consumers are protected, so the FSA board would need to be convinced that any proposals would be in the interests of consumers. A key consideration will be the potential to get compensation to more consumers, more quickly."

Payment protection insurance was typically sold with loans, mortgages and credit cards, to protect the repayments in cases of unemployment, accident, illness or death. However, many borrowers had PPI added to their loans without their knowledge or when it was unsuitable. They may even have been told that they had to have the PPI as a condition of the loan. This is incorrect, and all of the above are examples of mis-sold PPI.

iSmart is a leading claims management company which deals with 1,000's of claims each month. The amount reclaimed by iSmart on behalf of clients is in excess of £170 million (as of 11/2012). iSmart makes it easy for those struggling with a PPI claim to get the refund that is rightfully theirs.

Whether prompted by the budget or not, there's no better time than a new financial year for individuals and families to get their money in order. Those who feel that they may have been mis-sold payment protection insurance in the past should act now, to reclaim what is theirs.


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