Key Points To Consider When Making A Claim

PPI... those three letters have not been out of the headlines over the past year or so, as consumers have been shocked to learn that they may have been mis sold Payment Protection Insurance (PPI) while taking out a loan, credit card or mortgage.

So how did it happen? How do you find out? How much are you entitled to? There are so many questions, the answers of which can be found across all areas of, however here?s a quick guide to the key areas that need to be addressed if you?re proceeding with a PPI claim.

Enhance your understanding of PPI
It is can be a quite confusing process, before you embark on any claim it would be in your best interest to read up on PPI to get a better idea of how the whole affair came to pass. PPI was sold by banks and other financial institutions, such as Lloyds TSB, HSBC, Halifax and Royal Bank of Scotland, alongside mortgages, loans and credit cards. Its role was to provide cover for the borrower, meaning they could still make repayments in the event of redundancy or illness, for example.

Check your eligibility
Millions of people who were #d1597c weren't even eligible for it in the first place due to their, either because they were self-employed, over 65 or they already had a policy through their employment. Despite this, many salespeople sold PPI to these people regardless, meaning their customers were needlessly paying out more than they need to. Find out how much you may be entitled to. One quick and easy way to do this is to enter your details into our handy online PPI calculator which will work out the size of the lump sum that could make its way back into your bank account. This figure will then be all the incentive you need to proceed with a claim.

Choose to go it alone or use a specialist
While some people feel they have all the necessary nous to make a successful claim, others prefer the security of letting an expert take control of the whole process, which can often prove frustrating, confusing and time-consuming. If you do choose to use a specialist, like, then try to steer clear of those that charge an upfront fee and opt instead for a NO WIN, NO FEE service where you only get charged a percentage of your compensation won. If you do choose to use a PPI claims management company it would be particularly useful if you could provide key documents upfront, however the company should be able to source copies, if you can?t find them, once you sign the letter of authority.

Once you have all the above in place, you?re ready to go. To set the wheels in motion, contact us for our easy-to-complete PPI reclaim pack, either by filling in the online form or calling us on 0800 043 2027. This number if open 24 hours a day, 7 days a week, should you wish to have an initial discussion with one of our experienced advisors.