Reclaiming PPI Charges

Guide to reclaiming PPI bank charges on missold PPI policies

PPI or Payment Protection Insurance is a kind of insurance available in the UK that can be helpful for a person to cover payments when they are unable to pay due to a an unforeseen event such as unemployment, accident or illness.

PPI can prove to be very helpful for borrower as it provides a regular payment to the person for a period of time avoid missing payments whilst being unable to pay. PPI can therefore give a consumer the reduced worry of financial problems until they are able to work again or afford contractual payments.

PPI can be missold. If this occurs a consumer can go about reclaiming PPI charges

There are different types of PPI policies available in the UK such as:

• Mortgage payment insurance
• Loan payment protection insurance
• Credit card payment protection

Reclaiming PPI charges is carried out by thousands of consumers in the UK every year

PPI insurance is usually sold by credit card, loan, finance providers, banks, and, of course, insurance companies.

In the UK the financial regulators are aware of the practice of PPI misselling and to this end there are now thousands of PPI reclaiming charges cases being carried out by consumers to reclaim unfair missold PPI policy premiums back against the many PPI selling institutions.

Reclaiming PPI charges - Please do not worry as you can get back your missold PPI charges from the bank or the other institution by claiming for compensation.

• Firstly write a letter to the bank to getting to start the PPI reclaiming process.
• If the PPI selling bank or lender refuse to agree to you reclaiming the PPI charges back then you write again and threaten legal or regulatory action.
• You should also give the PPI selling institution a time limit to repay the missold PPI policy premium.
• If the PPI selling company refuses then you have the option of complaining to the Financial Ombudsman (FOS) or consider using a PPI claims firm or PPI claims solicitor to carry out the reclaiming of PPI charges on your behalf.

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