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Is Payment Protection A Scam? - You DecideBy James Alliss Please read this post as it could make you over £160,000.
This entire site is all about showing you ways to and making money. In actual fact is everything to do with money so here is a way to save some.
Have you ever found yourself in a position where you're thinking "I could really do with a new car...." or "Wouldn't it be nice if we could go on holiday..." The strange things is, the next day, as if by magic, you get a letter from the bank. The bank has read your mind and has decided to
offer you this great deal on a loan. You look at what's on offer and decide to visit your friendly bank manager.
After a few smiles and a cup of tea you decide to go ahead with the loan, well why not, you deserve a treat right? Ok, you get down to the paper work and all of a sudden your bank manager says "Have you considered how you would pay this loan should you get into financial trouble?."
Ah, there it is, the bomb shell - what if you can't afford to pay this back! Oh dear, what if you lose your job or you have an accident? Who will pay this debt? Don't worry, help is at hand. The bank manager then talks about how, for an extra premium each month, they will cover you against any unforeseen circumstances so the loan will always be paid. Well this seems like a fair deal to you, so you go ahead and sign the paper work to keep your mind at rest.Let me tell you something.... This is NOT a good deal for you, it's a good deal for the bank and insurance company! Payment Protection Insurance (PPI) has so many get out clauses for the insurance company that you could almost say it's useless.
It is estimated that around £4bn is spent by borrowers on PPI every year and only 4% of people ever claim!
Don't worry though, I have some good news for you that could save you thousands of pounds. If you do decide to take out a loan, DO NOT take PPI out through the bank as it's ridiculously expensive. All you need to do is pop into your local Post Office who will be able to offer you the same kind of protection for a fraction of the price.
Here's an example:
PPI taken out with a £10,000 loan, over a five year period, through Norwich and Peterborough, would cost you an extra £4,735 on top of your loan. However, the same PPI through your local Post Office would cost you £548, saving you £4,187.
If you saved that £4,187 for 20 years in an investment vehicle with annualised growth of 20% you would make £160,519.53.
There you have it - I have just told you how to make over £160,000.
I hope you found this useful.
LIVE Forex Trades
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Millionaire Mind - Think Like A Millionaire By Leo Foster Unless you learn how to think like a millionaire, you will have trouble making money and becoming one. To think like a millionaire you must have the right thoughts and beliefs about money, i.e., the Read more...
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