If you are struggling to reclaim payment protection insurance compensation from the banks or other major financial corporations, then the information to follow could be useful to you.
Depending on which stage of the claim you are at, there might be different parts of this article that are more useful to you than others, so read the full body of the text.
First… when starting out your case… look at your financial policies, this is because there could be some revealing information contained therein that could very easily help you along the way, you need to know if the policy actually has protection insurance included on it, so have a good look through & leave no stone unturned when searching your documentation.
Also ensure that you have all the documentation, perhaps do this from the outset before you start looking through the policies, because you will need to know for certain whether or not you have had a miss sold ppi payment, made in your monthly repayments.
Also check through the small print, & look at the documentation to find out whether or not you had been previously informed about the ppi, or whether or not this was hidden from you, because if the banks’ can prove that you were not miss sold this insurance product then you might struggle to make a claim in the first place.
If you plan to claim the compensation yourself without the use of an external agent, be sure to note that you will need to present your case in a certain way, you need to make it clear that you know you have had payment protection insurance & you wish to claim back all of the payments along with the interest accrued on the policy, make this very clear from the outset so that they know what it is you are writing about, & the product that you wish to reclaim compensation for.
There are some downloadable templates in and around the internet that you can download to help you put together a case for a re-imbursement from the banks’ & also any other financial mediums.
Also, if you struggle to get your message across to the banks’ or if they reject your case, you can always contact the financial ombudsman, which is a service that is geared to aid members of the public who have been miss sold any kind of financial product, along with a lot of other things.
Overall, take your time over your case if you choose to do it yourself, because there might be elements that you miss that you may need to re-visit later, like your account details on your loan policy, or you might need to request some documentation from one of your creditors, so take your time over it to make sure that you get it right, otherwise it could take longer than you first anticipated.