If the thought of claiming back payment protection insurance fills your mind with dread then you are not alone, it is estimated that there are still hundreds of thousands of people from the UK who have still not claimed back PPI even though they could be owed thousands of pounds.
Are you one of those people but wanted to know if there was a PPI claims made simple guide you could follow to get you started? We have put together some basics steps you should follow if you wanted to claim for PPI – don’t be put off by horror stories where banks have deliberately tried to delay decisions as there is now UK gov legislation to prevent them from delaying your PPI claim for too long.
Step 1. – Check your documentation
Check your insurance, mortgage or loan policy. Any extra payments that you have paid may be because the lender has charged you extra PPI without you knowing or needing it. This payment may in fact be called something else, like ASU (accident, sickness and unemployment cover).
Can’t find anything but think you still could claim? ring the company up it will only take a few minutes as all they need is your name, address and policy number. Remember, there are a whole host of policies that could have this extra charged layered on top. Loans, mortgages, credit agreements, credit cards and car loans could all have PPI charged on top so check today to see if you claim back PPI.
Step 2. – Was PPI Mis-sold to you?
Now you have clear evidence that you were paying extra charges called PPI, but can you prove it was mis-sold?
You can claim if one of following circumstance applies to you:
1. The salesman pressured you into taking it out.
2. You simply did not know that they were charging you PPI on top.
3. You are self employed.
4. You were not aware that extra interest charges applied to the PPI as well.
There could be other reasons, get in touch with the FOS to see if you could claim back PPI.
Step 3. – Carry out a DIY PPI claim
You have decided you want to claim yourself so that you do not have to pay a PPI claims company. Access the free claim form or telephone 08000234567 if you need help with your claim.
Step 4. – Get someone to claim for you.
Don’t want the hassle of DIY PPI claim? use a company instead but be careful as some of these could charge you thousands or hundreds of pounds. Read the small print first.
Step 5. – Talk to the PPI who mis-sold you PPI
Get in touch with the company that mis-sold you PPI and complain. They will have a dedicated team to deal with your PPI case.
Step 6. – Take action, complain to the government service if needed
Not happy with their response or feel they are fobbing you off? Tell the Financial Ombudsman Service today and they can help with your claim. PPI claims made simple 🙂