Claims to check your finances

How do you ensure the claims are efficient?

06:31 07 June 2014

A financial claim is an agreement arising out of a contract between you and a company or institution that entitles you to receive a payment or payments depending on the specified circumstances. You can apply for a financial claim after you undergo a loss simply from financial mis-selling or even bad financial advice.

 

Reasons to file for a financial claim:

 

In the past years, there has been a huge increase in companies mis-selling their products, which has affected even some of the top and high profile institutions and this has majorly been one of the main reasons as to why most people have filed for financial claims due to loses in their investments. A simple mis-spelling in products can render you entirely out of pocket making your investments face huge losses. Here are some of the signs that you suffered a mis-sold investment and a great reason to file for a financial claim.

 

•You opted for a low risk investment but the bank ignored your request and went for a high risk investment. If this led to you losing your money, you can simply claim a refund since that was not the kind of investment you actually wanted.

 

•Your bank stated that your investment value could not decrease. If by any chance it did reduce and you lost money that can be regarded as a misleading advice and a good reason for you to ask for a refund through placing a financial claim.

 

•Did the bank clearly explain to you all the risks of your investment? If not, the bank could be said to have misled you into investments that could lead to a loss, thus placing a financial claim would be necessary.

 

•You could also claim compensation if you or a relative was sold an unsuitable investment product and the money was put in a risky investment without your wish. Mis-sold investments especially high risk investments that led to loss of your money are major reasons as to why you should file for a financial claim.