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Common Concerns About Claiming PPI Compensation

For many people, claiming PPI compensation seems straightforward - you tell the bank you have PPI and ask for compensation.


But many of our customers share common concerns when it comes to claiming PPI compensation. We take a look at some common issues and problems, as well as offering resolutions.

If I submit a claim and it is thrown out, does this make it a false claim?

There were, and possibly still are, disingenuous PPI compensation claims - that is, people submitting claims knowing that they don't have a PPI policy against which they can claim. Less than reputable claim management companies were also responsible for this in the early days of compensation claims too but thankfully, the profession has now weeded out these companies.

If you make a claim and are not successful, this doesn't constitute a fraudulent claim. And before we make a claim, we always check that you have a PPI policy with the bank or lender.

I am unsure whether to make a claim as I am in arrears with the bank.

The decision is yours to make but, it is important to note that there areno barriers to anyone with a compensation claim for mis-sold PPI from making a caseincluding those customers in arrears or financial difficulties.

It may be that the expense of PPI added to your financial woes, such as the fact that you 50% or more of what you paid for PPI was in commission paid to the person who sold it to you.

If you are in the process of bankruptcy, sequestration or are part of an IVA agreement, you will need to check with our team and your debt advisor as to how a PPI windfall would affect your current financial status.

Can I make a claim for compensation without the need for a claim management company?

Yes, you can. There is nothing stopping you from approaching your bank or lender directly.

People use companies like Payment Protection Scotland for all kinds of reasons, from lack of time to simply preferring someone else to deal with the bank or lender in question.

Will it drag on for a long time?

Straightforward PPI compensation claims should be resolved within 8 to 12 weeks but there are some cases that take more effort to resolve. There is also the case of commission to consider too. If a bank refuses your claim, you can ask the Financial Ombudsman to consider your case, something that we will happy to do.

If you believe you have been mis-sold PPI or would like to check that you have not paid more than 50% in PPI commission, contact our team today to find out more about our fantastic no win, no fee service!

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