Services to Help You Protect Your Money

canstockphoto111People seem to be taking our money left, right and centre these days. Day-to-day living can be expensive, we all accept that but there are however, a number of cases in which money which is rightfully ours is taken from our accounts. We are living in an age where we cannot afford to allow this to happen any longer but luckily, a number of services and methods do exist and if utilised correctly, can lead to a successful reimbursement of your money.

Financial Ombudsman Service

This is one of the most useful defences for consumers when it comes to money problems. They are a free, independent service set up by the government with the aim of resolving disputes between the public and financial organisations. If, for example, you believe your bank has made a false charge against your account but they refuse to refund your money, you can contact the Financial Ombudsman Service and they will act as a middle man to solve the problem. The range of issues they help with is extensive; as long as it involves money and they believe you have been a victim of mistreatment, they will help you.

Claims Companies

Every now and then, a specific scandal concerning money bursts into the media and overwhelms us with information. The latest and greatest example comes with PPI. This stands for Payment Protection Insurance; a policy set up to protect consumers who are borrowing money from the bank. Essentially, its purpose is to make sure payments for a loan, mortgage or credit card will carry on even if the recipient becomes unable to work.

It sounds all good so far but in fact, in many cases, PPI was mis-sold; people were paying for it when they did not even know or they had a policy that was useless to them even if they were to ever require it. Outrage ensued and the government ruled that all wrongfully made charges for PPI should be returned. With the money already set aside for collection, claims companies continue to accept requests from consumers to help them successfully get their money back.

Expert Advice

Contacting a financial advisor can really help clarify what your rights are and what the best course of action may be in a specific circumstance;sometimes this service is even offered for free, which then makes it even better. There are also organisations like ‘Which?’ that specialise in consumer rights and regularly offer advice on the best products and services available, plus tips on getting the most out of your money.

Court

If contacting an organisation failed to get a response and the Ombudsmen were unable to resolve your problem, this does not have to mean the end of your claim. If you genuinely believe you have been wronged and are entitled to some sort of reimbursement or compensation, you can still fight to achieve this by taking the company to court. Even if the issue seems fairly trivial in comparison to other disputes, it may still be accepted in a small claims court if they agree that your case is worth arguing. Better yet, letting the business that has mistreated you know that you intend to take them to court is often enough to scare them into action and a solution can sometimes be reached before the trial is even necessary.

Yourself

In many cases, your best defence is yourself and the problem can be resolved before you have to call upon the help of others. Standing up to businesses that have mistreated their consumers can often not only be enough to resolve your own dispute but help others avoid being wronged in the same way you were; if a company knows its consumers are willing to stand against them, it is less likely to try rogue techniques and devious tactics to take their money.