How to Claim PPI: Three Things You Should Remember

October 24, 2014
by admin in PPI News

PPI or payment protection insurance had cost you £3500 in benefits that you can’t use. Even if the process is the same, not all PPI complaints are similar. However it is essential you know the fundamentals on how to make claim PPI refunds to get back all the money you paid in the past few years.

  1. Review All Your Billing Statements

All documents concerning PPI should be kept in a single file including all your billing statements, your terms and conditions and all signed documents between you and your lender. If you don’t have a copy of your terms and conditions or billing record, you could request one from your bank for a small fee.

  1. Consult With a Claimant

Most PPI forums contain a great wealth of knowledge that could help you get started. As PPI cases differ from each other, taking another perspective to your claim is important. You could contact a claimant and ask them how they organised the information and documents they have to assess your own claim. Organisation of information will be important to prove that your bank did mis sell you the insurance policy.

  1. The Bank

Submit your claim through the bank’s processing centres. If you do not receive a reply within two weeks, you could escalate the claim to the Financial Ombudsman. If you are also unhappy with the bank’s response, you could contact the Financial Ombudsman or have a claims management company have a look at your complaint.