You must be one of the many UK citizens who has a loan, credit card or a mortgage. You must be paying for payment protection insurance that has been added on by your lender.
PPI will cover payments on your debts if you are unable to meet payments when you become unemployed or are injured and unable to work. As per the recent survey, only 18% of the claims on PPI policies are ever successful, exclusion clauses that are effectively loopholes mean that insurers don't have to pay out if you were unemployed when you took out the policy, or had a pre-existing medical condition. This shocking situation means that the banks have made huge profits by forcing customers to take out policies when there was no need to buy a policy.
You can now reclaim your PPI, leaving the banks facing a wave of claims against them for misselling payment protection insurance to their customers.
How to do PPI reclaim?
Write letters to your bank requesting for a refund. If they say no, you need to write letters again and threaten them with “FOS” - the Financial Ombudsman's Service. The bank will again say NO. You need to duplicate your first letter and in addition, declare your intent to pursue legal action and support from the financial ombudsman
Banks know that they are doing wrong and will keep on denying your claim. They will never admit it and once they are ready to settle, it will be worded as a "good-will" gesture. It can take up to a year to settle a claim if you appeal through FOS. The banks also try harder to dismiss your "Cyber Cookie Cutter" claim because they know that these template letters are easily available on the internet and people claiming know less about their rights.
The simplest way to reclaim PPI to contact a claims company. These companies have all the experience to claim back your payments, and they will also deal with the claims departments at the banks on a day to day basis. You will always be able to pursue this sort of claim on a no win no fee basis.
PPI will cover payments on your debts if you are unable to meet payments when you become unemployed or are injured and unable to work. As per the recent survey, only 18% of the claims on PPI policies are ever successful, exclusion clauses that are effectively loopholes mean that insurers don't have to pay out if you were unemployed when you took out the policy, or had a pre-existing medical condition. This shocking situation means that the banks have made huge profits by forcing customers to take out policies when there was no need to buy a policy.
You can now reclaim your PPI, leaving the banks facing a wave of claims against them for misselling payment protection insurance to their customers.
How to do PPI reclaim?
Write letters to your bank requesting for a refund. If they say no, you need to write letters again and threaten them with “FOS” - the Financial Ombudsman's Service. The bank will again say NO. You need to duplicate your first letter and in addition, declare your intent to pursue legal action and support from the financial ombudsman
Banks know that they are doing wrong and will keep on denying your claim. They will never admit it and once they are ready to settle, it will be worded as a "good-will" gesture. It can take up to a year to settle a claim if you appeal through FOS. The banks also try harder to dismiss your "Cyber Cookie Cutter" claim because they know that these template letters are easily available on the internet and people claiming know less about their rights.
The simplest way to reclaim PPI to contact a claims company. These companies have all the experience to claim back your payments, and they will also deal with the claims departments at the banks on a day to day basis. You will always be able to pursue this sort of claim on a no win no fee basis.
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