Connect with us

Law

The Process Of Reclaiming Mis-Sold PPI

Millions of customers have already got the amount they have paid toward the payment protection insurance they were mis-sold, and many others are trying and waiting to get the amount they lost unfairly due to the misspelling techniques used by the banks. After the court ruling, the process of filing the claim application has become much easier, and there is no reason why legitimate and genuine refund claim should be rejected. Unfortunately, even after new and stricter regulation come in place, many of the applications are rejected after being filtered by the banks. One of the main reasons behind this is that even though millions of payment protection insurance policies were mis-sold, not all of them were sold wrongfully.

The Process Of Reclaiming Mis-Sold PPI

And, many people who bought the PPI knowingly have also tried to take advantage of the refund bandwagon, and hence, the stricter application processing. If you are sure and confident that you have been mis-sold PPI, the banks would identify it in most of the cases. And, in some cases, the help of the Financial Ombudsman Service may be required. They mediate the dispute between the customers and the bank. For many people, who find the claim application process to be difficult or challenging, hiring a PPI claims company is a good option. The claim management company takes care of all the formalities as well as negotiations and ensures that the customer gets back the money the banks owes to them, without hassles. Here is the claim application process in simple break ups, for your better understanding.

  • First of all, gather all the documents and the loan agreement papers to submit to the bank along with the claim application.
  • Write a PPI letter to the bank explaining how the PPI was mis-sold to you, and under what circumstances. Be as elaborate as possible.
  • After submitting all the documents and filling in the PPI questionnaire and claim application with the bank, they will provide you with the reference number that you need to keep safe with you.
  • The bank will revert in a couple of weeks telling whether the claim is accepted or rejected. If rejected, the bank will tell you why it was rejected, and if accepted, the bank will deposit the money directly into your bank account or will sign you a check.
  • In case it is rejected, you can go to the Financial Ombudsman Service to file a complaint and register a dispute against the verdict of the bank.

The filing process for PPI refund has become much simpler after the court verdict. Now anyone and everyone looking for a PPI claim refund can do so easily by contacting the bank and following the said procedure.

Author Bio – Lenny Kate is a known blogger and insurance expert. She has written extensively on the subject of PPI and her writings have helped many customers file PPI refund successfully.

Continue Reading

Recent Posts

Home Improvement24 hours ago

How To Add More Value To Your Home

If you have some spare cash in the bank, it is likely you would like to spend it on your...

Lifestyle3 days ago

What is a Deep Plane Facelift

Cosmetic surgery is a choice that needs a lot of research and when it comes to thinking about a facelift...

Entrepreneur3 days ago

Unveiling the Demand for Digital Marketing Courses: A Comprehensive Analysis

In recent years, the realm of marketing has undergone a seismic shift propelled by the digital revolution. As businesses increasingly...

Home Improvement2 weeks ago

What Does an Effective Wardrobe Spring Clean Entail?

Spring is upon us which means one thing and one thing only. It is time for the annual purge of...

Business2 months ago

Your Basic Guide To Creating A Unique Investment Blog

Starting your own blog is great and once you get the ball rolling, it can be a good passive income...

Business2 months ago

3 Low-Risk Ways To Get Your New Business Started

Once you’ve got an initial business idea and believe that it will be a success, there are some basic things...

Lifestyle2 months ago

Conquering the Co-free Zone: Tips for Thriving as a Remote Worker

Adjusting to an office environment can come with its downfalls in the sense that it might be a shock to...

General3 months ago

3 Ways To Take Control Of Your Finances Starting Now

If your finances have taken over and are bringing stress to your life, we understand just how overwhelming it can...

Travel5 months ago

Best Places To Visit In The North Of England

If you live in England, you will know there are many different places to visit for the weekend. There are...

General5 months ago

Green Home Improvement Ideas

In a world where environmental concerns are growing, the concept of “green” has gone beyond a trendy catchphrase and is...

Lifestyle5 months ago

How to Host an Unforgettable House-Warming!

The time has finally come. You have moved into your dream pad, and are officially adulting in your very own...

Autos5 months ago

A Guide to Parking Lot Striping

The journey to a well-striped parking lot begins with the right paint. In this brief guide, we’ll unravel the mystery...

Business8 months ago

Business Tips For Protecting Your Finances During A Recession

In 2023, taking the necessary steps to protect your finances for your business is now more important than ever. The...

Lifestyle9 months ago

Tips For Cleaning Your Trainers

If you’re into your trainers and streetwear, you’re likely to be very conscious of keeping them looking their best! So,...

Marketing9 months ago

Branding Trends For Start-Ups in 2023

Branding is incredibly important as it impacts how your business reaches and connects with its target market. If you’re branding...

Categories

Archives

Trending