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

Business5 hours ago

The Impact of Covid-19 on Commercial Property

The lives of people all over the world have been completely altered as a result of Covid-19, with businesses struggling...

3 Of The Best Foods and Drinks To Aid Your Sleep 3 Of The Best Foods and Drinks To Aid Your Sleep
Health5 days ago

3 Of The Best Foods and Drinks To Aid Your Sleep

Getting a good night’s sleep is hugely important for your overall health and wellbeing. Studies have shown that having a...

Why You Should Consider Volunteering Why You Should Consider Volunteering
Lifestyle5 days ago

Why You Should Consider Volunteering

Volunteering has many benefits both to you, your community, and your CV. Whether you do it alone, or with a...

Investigating The Important Factors In Legal Software Testing Investigating The Important Factors In Legal Software Testing
Law6 days ago

Investigating The Important Factors In Legal Software Testing

Fulfilling the digital transformation objectives with QA testing services has become an important phase for all industry verticals. Today, every...

Multiply Your Magento Store’s Sales With Affiliate Program Multiply Your Magento Store’s Sales With Affiliate Program
Business1 week ago

Multiply Your Magento Store’s Sales With Affiliate Program

Are you struggling to boost your sales and expand your customer base due to the significant increase in marketing expenses?...

How COVID-19 Is Changing Plastic Surgery How COVID-19 Is Changing Plastic Surgery
Health2 weeks ago

How COVID-19 Is Changing Plastic Surgery

There’s been changes to practically everything in our everyday lives, including industries such as plastic surgery. With practices having to...

Benefits and Drawbacks Of Getting A Taxi and Renting A Car Benefits and Drawbacks Of Getting A Taxi and Renting A Car
Autos2 weeks ago

Benefits and Drawbacks Of Getting A Taxi and Renting A Car

If you’re planning a vacation or business trip, you must decide whether or not to rent a car ahead of...

8 Killer Tips to Make Your Portfolio Website Standout 8 Killer Tips to Make Your Portfolio Website Standout
General2 weeks ago

8 Killer Tips to Make Your Portfolio Website Standout

A portfolio website is one of the easiest and most straightforward ways to showcase your work.  Although you have a...

3 Reasons You Need A Mobile-Responsive Email Marketing Platform 3 Reasons You Need A Mobile-Responsive Email Marketing Platform
Tech3 weeks ago

3 Reasons You Need A Mobile-Responsive Email Marketing Platform

Repeat after me. Creating email interfaces with mobile-first ethos and UI is key to the success of email marketing campaigns....

Mother and Nature Active Maternity Wear, How It All Started Mother and Nature Active Maternity Wear, How It All Started
Business3 weeks ago

Mother and Nature Active Maternity Wear, How It All Started

5 months pregnant and very happy about it, not much to complain about. Everything was going ok (famous last words). ...

How To Make Sure Your Toddler Has A Balanced Diet How To Make Sure Your Toddler Has A Balanced Diet
Health4 weeks ago

How To Make Sure Your Toddler Has A Balanced Diet

As your baby grows into a toddler, they go through a period of intense mental and physical development, as their...

The Top 3 Vitamins and Minerals To Support Your Fitness Goals The Top 3 Vitamins and Minerals To Support Your Fitness Goals
Health4 weeks ago

The Top 3 Vitamins and Minerals To Support Your Fitness Goals

You can spend hours in the gym, but without fuelling your body properly, it will be hard to see the...

Best Cities To Invest In Real Estate Across The UK Best Cities To Invest In Real Estate Across The UK
Investments4 weeks ago

Best Cities To Invest In Real Estate Across The UK

If you’re looking to invest your money, real estate has historically offered a safe investment with good returns. You gain...

7 Ways You Can Power Your House 7 Ways You Can Power Your House
General4 weeks ago

7 Ways You Can Power Your House

In case you are remodeling your home and are considering a more eco-conscious approach, you are probably looking into various...

The Pro’s and Con’s Of Chemical Peels The Pro’s and Con’s Of Chemical Peels
Health4 weeks ago

The Pro’s and Con’s Of Chemical Peels

A chemical peel is a non-surgical cosmetic procedure that resurfaces the skin to give it a refreshed, soft and smooth...

Categories

Archives

Trending