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The Basics of Making a PPI Claim

There have been many claims filed to get PPI refunds but very few have been successful thus far. One main setback is that most of those who make such claims are not eligible while others lack the basic knowledge of how to go about the whole process. That is why this article dedicates to offering all the basic things that one requires to be armed with before making an official PPI claim to his or her lender. Most of the financial institutions have put in effort to sensitize their customers about the possible scam with PPI thus raising interest for refunds.

Don’t rush into making such claims without having a substantive ground that you are qualified. Go through this article and you will understand how to approach the whole issue as a complainant. First and foremost, you need to have a clear understanding of what PPI claims are all about. You cannot push for something that you don’t know how it came up and the negative effects it brought to your life. You will seek refund only when a PPI policy was mis-sold to you and you stand at risk of losing financially. In most cases, this is done behind your back. That is the only time that you will have the confidence of saying you merit a refund.

Once that is established, you should begin the process of getting your money back by formally communicating to your lender through writing. Your PPI claim can be handled by a claims company of your choice since they are established to specifically do that. They mean good so don’t have any concerns over the one you have decided to work with. You will end up realizing that pushing for the claim on your own will be very challenging thus engaging such a company will be wise enough. Ignorant applicants never know how much to receive once the claim is successful.

That is a basic piece of information that you must know about well before deciding to seek a refund. There are calculators improvised to help applicants calculate their total refunds and they are very reliable. You can use it to determine your expected refund not to be surprised by the outcome. Generally, the amount of money you get as refund will be equivalent to the premiums that you have paid since taking the loan. Sometimes, interest might apply but not in all cases that this will be possible in a PPI claim.

What happens after your claims are overruled? That is not the end as you will have the opportunity to seek further reprieve from the Financial Ombudsman Service. Some applicants think that their lenders have the final word as far as these claims are concerned but not at all. The system allows for you to make an appeal at the Financial Ombudsman Service which you should take full advantage of.

You should not shy away from making your PPI claim from the lender you engaged. It is your right and using a PPI calculator – – will help you determine the amount of money to get in refund.

My Tragic PPI Claim Story | How Delaying My ppi Claim Cost Me More Than I Bargained For

There is an estimated 5 million people in the UK entitled to claim back their mis sold ppi. I was one of them entitled to my share of £6 billion pounds. Back then the ppi claim companies hadn’t got their act together so I did all the paperwork myself and filled in the ppi claim forms. In the end I managed to claim back £5.500 from Barclays bank. But there’s a tragic twist to this tail. Hopefully it’s a mistake that you wont make when making your ppi claim.
Watch the tv footage to learn what you are entitled to and then hear my story and get your ppi claim advice from a professional company.


More Ppi Claim Articles


Can I Claim Back PPI The Truth

You have probably viewed the news on the television, the net along with numerous print sources in regards to the fiasco relating to payment protection insurance and all of the buyers which are actually claiming back ppi payments along with service fees. This has become an ongoing scenario in the past several years inside of the UK.

For a buyer which could possibly have acquired a new credit card, home mortgage or even personal loan by way of credit card banks, lenders as well as top banking institutions, are you asking “can I claim back ppi?” Probably in the event you obtained one of the aforementioned during the last six or so years, the response could more than likely seem to be that yes you may make a ppi claim.

Remember there are numerous main reasons why you may well be a candidate to claim back payment protection costs. The most common instance for mis sold ppi is the financial lender has never entirely discussed or even asked the applicant with regard to conditions. Normally borrowers weren’t inquired vital questions regarding employment status (how long at present job, if self-employed, and so on). Additionally they fail to check out past medical ailments. These are a couple of large components when omitted the customer may possibly end up being denied money if the event arose in which they needed to file a claim regarding payment. Note that for anyone who is self-employed or perhaps haven’t been with the present employer for one year you’re not entitled to ppi. In regards to medical conditions, there are many pre-existing disorders which will automatically cause you to be ineligible pertaining to payment protection insurance coverage.

Yet another typical scenario in which a customer seems to have a legit cause of claiming back ppi payments is when a financial institution required you to obtain the ppi by straight out telling you or perhaps by hinting that the loan wouldn’t be authorized in the event you denied the insurance policy. Its possible you’ve been told that you needed to buy the ppi right then, which itself is untrue. Finance institutions make a big commission off each sale, as a result the high pressure. In all truth, it is possible to obtain PPI from other sources below fifty percent the fees from the banks. It’s also advisable to know that PPI isn’t required to receive financing.

What can you do if you need to claim back ppi? The first step should be to be sure that you qualify to file a claim. You may check out the Financial Services Authority (FSA) and also the Financial Ombudsman (FOB). If you are a candidate you could possibly either file your claim yourself or even find the help of a claim back ppi firm to file the reclaims for you.

In case you are wanting to know how to begin claiming PPI back and wish more info or to discover criteria necessary to be eligible claim back payment protection fees please visit advisors at UK PPI Claims.

Determining Eligibility for a PPI Claim

How do you know that you are eligible for a PPI claim? It is very easy but not many applicants take effort to determine their status. They wake up in the morning and proceed straight into writing to their lenders seeking refund. That way, you might get the money hard coming for mistakes of your own making. You are supposed to determine the specific ground that your claim sits on. There are many reasons that may lead to a claim and you will not be qualified under all. The main reason for determining your eligibility is to know under which of the reasons that you will stake claim for refund.

It is not done haphazardly but in a systematic manner. If your policy was issued after you retired or you had moved out of your employment then you will have strong grounds for seeking a refund. Also, a PPI policy is not for people who are self-employed so you will be eligible to seek refund if it was offered to you. Lenders lie to applicants that the policy will be helpful despite their employment status but it’s not the case. Not until you realize that you are scammed that everything turns out to be complicated for you. You might have had a medical problem preventing you from continuing working but you were still issued with a policy. That is a ground enough for you to make a PPI claim for refund.

As noted, you are not eligible for a policy while out of work so you were cheated and seeking refund is the right way to solve it. There is an age limit imposed on PPI policies which mostly touches on retirement. If you were past that limit and still received the policy then you were scammed unknowingly. You will have enough reasons to seek for refund as well as if the payment period for the policy was shorter than that of the loan. The policy is supposed to offer protection for the loan for the entire period you have borrowed so it makes no sense that it will expire before the loan.

Another ground for seeking a PPI claim is when you received the policy compulsorily without your consent. PPI is not a compulsory policy so nobody can force you into having one without your agreement thus you will be right to ask for refund. There is no law requiring a borrower to get PPI from the same provider who offered the loan. You can have them from separate lenders and you will have to seek refund in case you were forced to get both from one lender. Unless it was voluntary, seek for refund in case you were forced to do it.

Sometimes, things are done under duress but not with PPI policies. You will be eligible for a PPI claim if at all there was duress when taking up the policy.

There are many ways for determining your eligibility to seek a PPI claim – . Generally, it is all about getting mis sold PPI – – but you should go deeper in unearthing many more reasons that you may be unaware about.

Claim Back PPI – Getting What You Should have

Often sold as ASU insurance, PPI or Payment Protection Insurance was packed with loans and other considerable loans such as cars. The selling claim was that it could take care of your payments if you find yourself not able to cover your debts caused by accident or losing their work by a redundancy. However, loopholes inside the coverage meant that the secured payment per month never showed up when unemployment and illness did occur.

As an example, PPI limits pre-existing and recurring health problems. If you were sold PPI and you did have such ailments, this is identified as a mis-sold policy. So that you can claim back PPI, you may have to provide clinical records for the Financial Services Authority (FSA) for the whole determination.

To make this case worse, numerous consumers were not even informed they had bought PPI. The primary concept to cover people who had become unable to work was speedily neglected and rather it became nothing but a source of profits for most corrupt finance institutions. This inevitably led to thousands of people submitting millions of legal cases to claim back PPI insurance fraudulently offered to them by most of the United Kingdom’s largest lenders that include Alliance & Leicester, HBSC and Lloyds.

Apart from the lenders, some of the UK’s major credit card providers were also related; Capital One and Egg to be the most egregious culprits. They all were determined by the High Court to have badly sold PPI during the last 10 years to customers who could not have ever applied the insurance policies. Specially, those customers who were retired, self-employed, unemployed or had an ailment that entirely stopped them from functioning again were defrauded. It’s been estimated that greater than 27 million policies have been supplied. 40% of these insurance policy owners weren’t even aware that they had bought PPI.

After lots of people had filed to claim back PPI costs, the FSA levied serious fines against every agency engaged. Each company was penalized more than £1 Million with Alliance & Leicester being penalized for their fraudulent behaviour at over £7 Million. For this reason, the lenders have established compensation funds especially for their defrauded clients. Barclays Bank has prepared a fund of over £1 Billion.

In April of 2011, the Competition Commission had acquired enough info coming from the High Court and began issuing their orders. Alterations they needed in selling PPI today were that information must be given to customers on exactly what it had been and what their choices would possibly buy it or not. This was to be provided in writing, individually from the specific purchasing documents. Additionally, PPI could no longer be sold concurrently as a credit agreement. A month later, the High Court decided that every lenders needed to review their policies concerning PPI and compensate each client who was mis-sold the insurance policy. The judgment covered the years of 2005 to 2011 and stays effectively for customers who want to claim back PPI costs.

Based on the number of policies sold and for what reasons, you will have a PPI claim worth thousands of Pounds. It’s in your best interest to get a company to assist you as there are policies you aren’t even conscious that you bought. A lot of companies have a no win/no fee service that ensures you won’t need to pay them prior to your suit to claim back PPI has been fixed.

In all kinds of insurance, some claims are rejected and some are accepted. Nonetheless, in the case of claim ppi, the number of rejected claims are high compared with other kinds of insurance.

How far back you can claim PPI

What to do ?
1.Down load the FOS Questionnaire and fill it properly.
Click this link to download FOS questionnaire

2.Write a cover letter to the Financial company/Bank with your grounds that why you think the PPI was mis-sold to you and therefore you are requesting the money back.
Download a sample letter.Click below linkfor Sample letter

3.Attach photocopies of all loan agrreements,laon statements etc. if you have.

4.The most important thing is you must order your bank to pay and you must tell them how much you need them to refund to you.For this you need to do some calculations and this will be depend on the initial loan value,PPI value,the interest rate you borrowed,how much you have paid sofar,the value of the installment.etc.But if you put that figure your case will be strong and bank may not just pay you something but will try to pay everything they owe you.

I know the calculation is the tricky part as we all cannot get this right.Well I know several people cannot do this by their own

I am happy to fill the Questionnaire and to write your sample letter for you.I can Either email or Post it for you with all the instructions what to do
If you wish please fill the below form accurately or to read more goto link below
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PPI Claim – PPI Reclaims

The most difficult part of taking a loan, doing mortgage or taking a credit is not repaying the money you borrowed; instead it is making your Payment Protection Insurance Claim and receiving back the money that is rightfully yours.
Many people try to get their PPI Claim by directly dealing with the bank or organization that they signed their Credit Agreement with. However, it’s easier said than done. These money lending institutes do not seem to entertain the claims unless and until they come from a legal source.

This is one reason people now prefer hiring services of a legal firm who can handle their PPI claim cases and help them receive their money within a stipulated time period.
These legal firms are adept at handling the PPI claims and ensure that they meet with 100% success rate. The carry out the entire procedure of filing the claim for you and also correspond with the financial institution concerned to get you your money.
If you have taken a loan or acredit from any financial organization in the past ten years then you are eligible to ask for your payment protection insurance claim. In cases where the entire loan amount including interest has already been repaid, the PPI claim can still be made. In fact, there are many people who do not realize this and then repent because the time to make their claim has passed. You can even ask for claims in case of loans where you are still paying up the interest.

The procedure to file for your PPI claim is very simple and your legal firm will handle it all for you. However, there are some formalities that you have to complete including filing out a form with your personal information as well as the nature of the loan taken.
Once this is done the company does your dirty work for you. Any documents that are required for claiming your money is directly asked for from the organization that gave you the loan. So you don’t have to worry if you have lost the original documents or if they are not with you.

The money lending organizations have only 60 days to take action after receiving correspondence from your firm. Most financial institutes prefer paying up the claim amount during this period instead of turning it into a legal hassle for them. Hence, you can expect your claim within 60 days. In cases where the claims are not entertained for various reasons, your legal firm will not charge you a single penny and you will be excused the fee you would otherwise owe them.

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You can find out more about- PPI Claims , PPI Reclaims , PPI Claim

Are you qualified for your PPI claim

PPI or Payment Protection Insurance is a sum of money which helps you to cover all your payments on account of loans, credit card payment dues and mortgage. These payments are made by the insurance companies under special circumstances such as accident, death, unemployment, hospitalization etc. There are various other names for insurance like this. It is commonly known in the market as loan repayment insurance, ASU or Accident, Sickness and Unemployment insurance, loan protection or credit insurance.
Over the past few years, thousands of such policies have been sold to customers in UK, without them knowing how to use them or even knowing whether they own a PPI or not. The recent ruling by a UK court has forced these banks and other lenders to give back the claims along with interests to all customers who have been mis sold PPI . A number of people seek professional help from financial and legal specialists who are expert in helping you claim mis sold PPIs. However, an easy way out is to decipher yourselves whether or not you qualify to claim a PPI. Here is a step by step guide that will help you do so:
1. A good step to begin is by examining whether the policy that you were sold when you purchased a home, covers the entire term of the loan.

2. Also, if you were sold the mortgage saying that the PPI was compulsory, there is good reason to believe that the PPI was mis sold to you by the bank.

3. Yet another reason can be that if you were sold the PPI without being told the fee you have to bear for it, or you weren’t even informed whether the policy covers a self-employment clause.

4. If you have purchased a loan or a credit card from a bank in the last 10 years in U.K, there are good chances that you were sold a PPI without your knowledge, until and unless you specifically and categorically refused it

5. Try to recollect the conversation you had while purchasing a home mortgage, loan or a credit card, with the bank salesman. Recollect if you had any conversation revolving around terms like ASU or LPIs. If yes, then you are definitely a victim of the mis sold PPI scam. ASU and LPI are just another fancy term used for Payment Protection Insurance.

6. One of the easiest and reliable ways to check if you own a PPI is to check all your product (mortgage, credit card or loans) statements. You may find clues in terms of premiums paid to these companies for the PPI.

7. You may also search for the policy documents and booklet handed over to you while you purchased a land mortgage or a loan. Look for terms and conditions on PPI carefully. Check the company website to know the official product name of their PPI and look in the booklet for those names.

These tips will surely come to your rescue but it is advisable to hire an expert. Before hiring an expert check for their credibility and reviews online. Don’t forget to check their fee.