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Should You File PPI Claims

By Guest

In the UK the last 4 or 5 years, something known as PPI reclaiming has become something many of us are hearing and talking about. What this does is it lets people whom were mis sold payment protection insurance a means to try to acquire money back which is rightfully theirs. Many whom have received a loan, credit card or mortgage may be able to reclaim a good amount of money in which they made in PPI premiums.

Payment protection insurance is an insurance that may make repayments of some of your loans, credit debt, mortgage, etc if you ever are unable to work due to illness or accident, in addition to if your job entered into redundancy. PPI in itself really is not a bad thing, however, with the mis-selling of it by unethical sales people it is no wonder that ppi reclaiming is as high as it is.

If you feel you were mis sold payment protection insurance and want to reclaim your money, you should first contact the establishment which issued it. You will have to fill out a questionnaire that has been created by the Financial Ombudsman in 2010 which will be your initial complaint form. You need to visit the FSA website first and check to be sure that the company which sold the ppi to you is registered with them, if it is not, you no longer need to fill out the questionnaire, although filling it out will give you record of your information.

After you do file your ppi claims, you might be denied to begin with. This really is typical, once your complaint is denied; you should write them another letter and inform them you will be forwarding your claim Financial Ombudsman.

Depending on how much ppi you are attempting to reclaim, the organization may send you an offer to settle. You can either accept it or deny it; you might tell them how much you are willing to settle for. This does not always work, but it often may.

If the above fails then it really is time to file with the Financial Ombudsman (FSA), where filing is free. It could take you some time and patience but studies show that about 95% of the adjudicated cases are for the consumer.

Please note that even if your loan, credit card or mortgage has been paid back, you might still be capable of getting your money back by filing the ppi reclaims as quickly as possible. There are many websites online that could possibly help you with the process.

Get info on reclaiming ppi by visiting Simplicity Claims where you can also find options for reclaiming mis sold payment protection insurance.

Article kindly provided by UberArticles.com

Topics: Finance | Comments Off

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Article Citation
MLA Style Citation:
Guest, Guest "Should You File PPI Claims." Should You File PPI Claims. 8 Aug. 2010. uberarticles.com. 15 Apr 2015 <http://uberarticles.com/finance/should-you-file-ppi-claims/>.

APA Style Citation:
Guest, G (2010, August 8). Should You File PPI Claims. Retrieved April 15, 2015, from http://uberarticles.com/finance/should-you-file-ppi-claims/

Chicago Style Citation:
Guest, Guest "Should You File PPI Claims" uberarticles.com. http://uberarticles.com/finance/should-you-file-ppi-claims/


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