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

Health1 day ago

Simple Ways To Feel More Confident At The Gym

If you are new to the gym, or you haven’t been in a while, sometimes you might not feel completely...

Business7 days ago

Can You Use Residential Property for Commercial Use

Having extra income, constantly flowing in can make all the difference in the current economy. Getting creative with how you...

What Do Business Consultants Do What Do Business Consultants Do
Business2 weeks ago

Running a Business? How to Minimize Supply Chain Issues

Supply chain issues have always been an issue for businesses but over the last few years, the effect and widespread...

Home Improvement3 weeks ago

How to Increase Your House Value Before Selling

Increasing home value is the first step to making your place more attractive for future buyers. Whether you are trying...

General4 weeks ago

Why Calorie Control Is Still The Best Way To Diet

There are a great deal of different options when it comes to dieting, every day there seems to be a...

The Benefits Of Trade Credit Insurance For Your Business The Benefits Of Trade Credit Insurance For Your Business
Business1 month ago

The Benefits Of Trade Credit Insurance For Your Business

Trade credit insurance provides cover for businesses who trade on a credit basis. If the people who owe money for...

5 Charming Restaurant Decor Ideas In 2022 5 Charming Restaurant Decor Ideas In 2022
Miscellaneous1 month ago

5 Charming Restaurant Decor Ideas In 2022

Making your restaurant memorable and stand out is a feat worthy of praise. The sheer pressure of wanting to succeed...

Bank Won't Fund Your Business? 4 Loan Alternatives To Get You Started Bank Won't Fund Your Business? 4 Loan Alternatives To Get You Started
Business2 months ago

Bank Won’t Fund Your Business? 4 Loan Alternatives To Get You Started

Businesses typically require some sort of collateral or proof of concept before funding their business venture. However, it is possible...

Planning A Stag Do Planning A Stag Do
Miscellaneous2 months ago

Planning A Stag Do

If you’re a Best Man then you’re in a unique position of responsibility, and before the day itself when you’ll...

Tips to Reduce Eczema Flare-Ups Tips to Reduce Eczema Flare-Ups
Health2 months ago

What Triggers Eczema | Tips to Reduce Eczema Flare-Ups

Eczema is a skin condition that can induce redness, itchiness, and skin inflammation. Its root cause is not fully understood,...

Women's Fashion Trends To Expect In 2022 Women's Fashion Trends To Expect In 2022
Lifestyle3 months ago

Women’s Fashion Trends To Expect In 2022

A new year means new fashion trends. We cannot wait for what is in store in 2022. It seems that...

Home Makeover Trends: Insights from The Pros Home Makeover Trends: Insights from The Pros
Home Improvement3 months ago

Home Makeover Trends: Insights from The Pros

Are you considering a home makeover but don’t know where to start? You’re in luck! In this article, we will...

Interior Design Trends 2022 Interior Design Trends 2022
Home Improvement3 months ago

Interior Design Trends 2022

We all spend time pining over other people’s interior’s on Pinterest or Instagram, but with these trends, it’s easy to...

Top Commonly Overlooked Car Maintenance and Repairs Top Commonly Overlooked Car Maintenance and Repairs
General3 months ago

Top Commonly Overlooked Car Maintenance and Repairs

Maintaining a car is a huge responsibility. There’s a lot that goes into that given how complicated a machine it...

What Is The Difference Between Strata and Property Manager What Is The Difference Between Strata and Property Manager
General4 months ago

What Is The Difference Between Strata and Property Manager

Real estate is a diverse market, and as such, it can be hard to determine the differences between various types...

Categories

Archives

Trending