Template Letter to Reclaim PPI Insurance

Claim Back Payment Protection Insurance with ‘reclaim PPI template letter'

In these days of the credit crunch, recession, high redundancy and uncertain job security, it is understandable why banks are offering PPI payment protection insurance when loaning money. The problem is that the UK banks are overselling it and as a result 10,000s of UK consumers are have been missold PPI

• PPI payment protection cover should ideally cover a borrower’s installment or payments on mortgages, loans, and credit cards in the event the consumer loses their job.
• PPI cost just a few extra pounds every week.
• PPI policies are full of exclusions in legal fine print
• PPI policies are easy to misunderstand at the time of purchasing.

Make sure that you take time to compare all the policies available in the market.

• It is a bad idea to take the policy that is being sold by the same company that gave you the loan
• The cost may add up with the loaned amount, raising interest charges.
• Consumers are advised to read the fine print and ensure that you are absolutely clear about the terms and exclusions of the policy.

If you have purchased a policy that you feel is not suitable for you or you feel was mis-sold, you can be in the position to claim a refund of PPI charges.

• Write a letter to the company from which you bought the payment protection
• Explain why you think you were mis-sold the policy
• Explain why you are eligible for compensation.
• You can get help from the internet, several websites provide free of cost ‘reclaim PPI template letter’ formats which you can use to draft your letter.

‘Reclaim PPI template letters’ can come in extremely handy.

• While drafting a letter on your own, you may miss out vital points, or due to inexperience, fail to organize your arguments in a manner that strengthens your claim. In such cases, such ‘reclaim PPI template letters’ can come in extremely handy.
• If the end result is not satisfactory, escalate your grievance to the Financial Ombudsman. Even at this step, free template letters are available to express your grievance in clear terms to the concerned authorities.
• The ‘reclaim PPI template letter’ allow you to customize the format to suit your needs. There is always a field to insert your name, address with postcode, contact number and date, so that you do not forget any of the minute but essential details. Then the name and address of the company that sold the PPI policy to you has to be entered in the correct fields, in proper order.

Using the ‘reclaim PPI template letter’ as a guideline, you can surely make a successful claim on the refund of your PPI charges.

If you’re not sure what do to next – get in touch with us. We should be able to sort out which company is involved and pursue then for compensation.

• 'No Win - No Fee' Service and No Upfront Fees
• Expert friendly advice
• We will handle your case from start to finish

Click here to complete your PPI Claim Form