Reclaim PPI charges

Were you ever offered PPI?

Was it ever told to you that Payment Protection Insurance over your borrowing was compulsory?

If yes then you are very well a candidate of PPI claim back. You can fall into such situations in a number of ways. It often happens that the salesperson or the company representative calls you and informs you of the loan or credit agreement is in place but uses terms such as “protected” to cleverly hide the PPI charges.

There are several indications that the representative is trying to force you into this trap. As prevention is always better than cure, so it makes sense if we could catch this intention and negate this from the very start.

Watch out for terms like “protected” or “fully protected”

Watch out when the representative is not clear whether the payment protection insurance policy is optional or not. The representative being pushy or trying to imply that not taking the insurance as well is disadvantageous is another symptom. Luckily enough, even if you are tricked into it there are ways and measures you can undertake to reclaim PPI.

Please note that the PPI reclaiming notice can be time consuming and anyone wishing to reclaim missold PPI would need a fair amount of patience.

Please do not get discouraged due to the time factor as the success rate for PPI claim back is increasing every day. All it needs to start is remembering how it all got started. Either you would have walked down to the agency or bank for your requirements or it was some salesperson who contacted you by phone or in person.

The idea is to find out the responsible authority who sold you the policy.

This agency needs to be contacted. The ideal start would be to drop them a mail or courier your request. This should be in turn supported by valid paperwork that you had received when subscribing the policy. Remember that the more solid the documentation is the more you are nearer to PPI reclaim.

The agency/bank will always try to delay the whole process as this the most common tactics they apply. They will always try to reject the claims or put it on hold. Here they are trying to test your patience and your level of enthusiasm on how far you go to make it done. So your ideal approach would be to follow them up and explain them that you are not satisfied with the efforts they are giving to deal with the issue.

FOS (Financial Ombudsman Service).

Please note that some missold PPI consumers are fortunate and are able to reclaim PPI claim back by writing a strongly worded letter. For the not so lucky ones it is time now to file an official complain to the FOS (Financial Ombudsman Service). This is a real masterstroke because according to the statistics more than 90% of reclaim PPI events are adjudicated in favor of the consumer.

Even after all this you are still unable to reclaim PPI charges then you need to reevaluate the whole effort that you put into and find out what was missing. This does not necessarily mean that something was missing. I would say that if anything is missing its luck.

Use a solicitor or a PPI claim specialist

We still have a last resort; go to a lawyer or a PPI claim specialist. You will find numerous profiles matching the cause in the web itself. They know all the tips and tricks of the trade and it will just be a matter of time till you get your PPI claim back.

Click here to complete your PPI Claim Form