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Mis-sold payment protection insurance- is it right for you?

Mis-sold payment protection regarding loans is a topic that is all too frequently brought up in the current times. Most people are familiar with the television advertisements, flashing large, persuasive messages on-screen about lenders that could have mis-sold payment protection insurance on your recently acquired loan. 

What is payment protection insurance? 

Payment protection insurance, also known shorthand as PPI, is a precaution that is normally put in place which is, in fact, beneficial to the borrower. For example, should the person taking out the loan be unable to make payments for several months or weeks due to unprecedented circumstances such as injury or illness, PPI is in place to aid the borrower in making payments to cover the loan until they return to full paying ability. Evidently, this is a system in place that would of course be extremely useful, should the aforementioned unfortunate events take place. Until of course, it is categorized as mis-sold payment protection insurance, and the opportunity to make a claim arises.

How can it be mis-sold?

There are several failures on the part of the lender that must occur for this service to be considered mis-sold payment protection insurance. If the lender did indeed make these fatal mistakes, it may be possible for someone to claim back the money that was spent on that portion of the loan agreement, as it will be then classified as mis-sold payment protection. Some of these mistakes include: 

The lender telling the borrower that PPI was a compulsory aspect of taking out the loan.

Payment protection insurance was sold to the borrower without their knowledge.

The lender failing to inform the borrower that PPI could be sold to them elsewhere for the loan in question. 

Full details of the insurance policy were not given to the borrower, or the full details of how much the payment protection insurance was going to cost the borrower were hidden or disguised.

If making a claim for mis-sold payment protection

With the increased awareness of mis-sold payment protection insurance, it is natural to expect the lenders beginning to realize that they have to cover themselves when it comes to giving out loan to borrowers. If making a claim, one will often find that the lender will bring several fine print clauses into effect to counter-act the claim, and unfortunately even with the above conditions met; the person claiming will find that the lender has managed to escape the claim through several loopholes in the original agreement. The message here is to be careful when taking out a loan, be sure to read all the small print, and do not always expect a result when claiming for mis-sold payment protection insurance.

About the Author

If you have been mis sold payment protection then you can make a claim to get your money back. For expert legal advice and to receive your ppi compensation contact a PPI claims expert for more information .

How can you figure out how many copies a book has sold?

I translated a book that was published in 2006 and receive 1% royalties. The publisher is rather elusive. I'm trying to figure out how many copies the book has sold in order to determine what my share is (if any, after an advance of $750). Any thoughts?

You might be able to make an educated guess from the numbers available through Bookscan, if you know anyone at a larger publishing house who can use it for you.

Less useful, but still good: try someone in publishing who has access to an iPage account at Ingram.

Still less uselful, but good for guessing a ballpark figure: look at the Amazon sales ranks, then look at the sales to rank converter on Foner Books website. This will give you an educated guess at the Amazon sales. Multiply it by 10 for most books and you're in the ballpark for total sales.

If any or all of the above seem to suggest that you are being ripped off, consider contacting RMS Royalty Review. They're the premier royalty auditors. They'll be able to tell you whether or not you have a decent chance of recovering more than the cost of an audit.

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