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

Travel1 day ago

5 Tips For Getting Around in Vegas

Las Vegas is always on most travelers’ to Do list. Travelers to Las Vegas usually choose to fly. Many airlines...

Education2 days ago

5 Different Engineering Degrees You Can Study

Engineering is no longer the fearsome career path it once might have been. Engineering courses of study and achievement of...

Home Improvement5 days ago

Sparks and Smoke: 6 Signs Your House Needs Rewiring

If you bought an existing home, it’s likely the wiring was done a long time ago. Over the last few...

Autos6 days ago

Master Mechanic: How to Learn More About Your Vehicle

Driving a vehicle on a regular basis is one thing. Understanding how it works, however, is a whole other ball...

packers and movers packers and movers
Home Improvement7 days ago

Tips to choose packers and movers to help move your office space

Numerous moving companies in India help make your move to any city as smooth as possible. They offer quality and...

Health1 week ago

Enjoy Responsibly: The Safest Methods for Using Cannabis

As cannabis is becoming more and more legalized across the nation, people are becoming more curious about its uses. With...

moving services in Toronto moving services in Toronto
Home Improvement1 week ago

Tips on finding moving companies in Toronto providing comfortable moving services

Moving to an interstate location shall be stressful, especially if you are about to relocate on your own. Hiring professional...

Autos2 weeks ago

Choosing the Right Tail Lights for Your Car or Bike

If you need new tail lights for your car or bike, you’ll want to take several factors into consideration so...

End of lease cleaning in Melbourne End of lease cleaning in Melbourne
Home Improvement2 weeks ago

End of lease cleaning in Melbourne – Move in and Move out easily

If you are a tenant, you are sure to be aware of the fact that you get to move into...

team in Sydney team in Sydney
Lifestyle2 weeks ago

Tips in finding a trustworthy removalists team in Sydney

Relocating to a newly rented or leased house space can be a tedious and time-consuming process to perform on your...

Lifestyle2 weeks ago

4 Fashion Additions to Complete Your Outfit

A wonderful outfit can make you appear and feel like someone who can conquer the world without even breaking a...

Autos2 weeks ago

How to Go about Selling an Old Car for Parts

Selling an old car for parts is easier than most people realize, and your junker could be worth quite a...

Business3 weeks ago

4 Things to Consider Before Choosing a Feed Tank for Your Manufacturing

In every day manufacturing you may find that you need a feed tank for your operation. Selecting the right feed...

Tech3 weeks ago

How to Find a Phone that Fits your Needs

Are you looking to buy a phone that may suit your needs without poking a hole in your wallet? You...

Lifestyle4 weeks ago

Elegant Dinner: 4 Ways to Fancify Your Next Get-Together

Throwing a social gathering in the comfort of your own home can be a joy. If you want your upcoming...

Categories

Archives

Trending