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Steps to Claiming PPI

Payment protection insurance (PPI) was mis-sold to thousands of customer and the chances are that YOU were one of them. But, with all this talk of compensation and making a claim, the detail can be lost. So, just how do you go about making a claim for mis-sold PPI?

Step 1: Find the policy/paperwork etc.

This is the first step but, for many customers, it is hurdle that takes some jumping over! You may have moved house, the paperwork could be lost of well buried beneath piles of other things and so, many people faced with such a daunting task don't bother…

However, there are other ways of finding if you have PPI;

  • Check with some of the credit reference agencies in the UK as they sometimes have copies or access to copies of policies and such like. You may need to register with their service and there is a fee too.
  • You can contact all the banks or lenders with whom you have ever had a credit card, loan and such like and ask them. At the start of the process, banks were very reluctant to give this information way!

Step 2: IF you find it…

You know need to put your thinking cap on and remember when you bought your loan, credit card etc. and how the PPI was sold to you. You will need to recall this as you will need to tell the bank why you believed you were mis-sold PPI.

There are all kinds of reasons, from it being a policy that was added without your knowledge or consent, to the terms and conditions either not being explained at all or not being explained properly.

Step 3: Write a letter of complaint

You will need to notify the bank in writing that you are claiming compensation for mis-sold PPI and the reasons why. You do this via letter and there are templates available online OR, you can contact a highly reputable claim handling company such as us. We have worked with hundreds of customers to successfully claim back the money that was wrongfully taken from them.

Step 4: Sit back and wait…

The bank must make some form of response to you within 2 months about your potential claim. The outcome can sometimes be immediately positive but, in some cases, it can also be negative.

With Payment Protection Scotland on your side, however, you have no need to worry as we will be with your every step of the way, right to the point where you receive your cheque!

 

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