How to find a good Claims Management Company like My PPI Claims
Thousands of people are unsure if they ever had ppi on their loans, credit cards and many other finance agreements such as store cards and car finance and are unsure what they need to do to find out.
We will cover several options you have available to you to find out if you were missold ppi and give you the timeframes for each scenario.
Firstly you have the option of either finding this information out by yourself our by using the services of a claims management company. If you use a claims management company do not under any circumstances pay any more than 15% for their service.
Next is if the agreement is still in force and you do not have the original agreement then write to the company in question requesting a copy of the agreement along with your terms and conditions and enclose a cheque or postal order for £1 as this is the amount they are allowed to charge to provide this information to you. Your letter should state you wish a copy of your agreement under section 77 -79 of the credit consumer act.
Any letter you send under a section 77-79 the provider must provide this information to you within 12 days of them receiving your request and it is always good advice to send your letter by recorded delivery.
Next if you do not have your agreement and it has been settled with the provider within the last 6 years you can request a Data Subject Access Request which will cost you £10 and all you need to do is put your name and address on the letter and ask for a DSAR and enclose the cheque or postal order for £10 and they have to supply this within 40 days of receiving your request.
Again it would be wise to send this by recorded delivery so you have proof it has been sent and received in case of any disputes further down the line.
Once you have the documents from the provider you want to look for certain things that would reveal if you had ppi or not.
If it is a credit card their will normally be a charge each month or on the agreement the box will be ticked to say you have payment protection or card protection. If it is a loan it will generally be up beside the amount borrowed and interest it will have a premium for loan protection and the box will be ticked to confirm you have it.
If you are unsure then use a claims management company as most of them have vast experience in dealing with ppi claims.
Finally you want to submit a formal complaint to the company if ppi was added to the agreement and you were unaware of it. Companies get 8 weeks in which to respond to your complaint and either uphold it and pay compensation or decline it at which point you would need to consider using the Ombudsman as a final resort.
This is just a broad example of how you can find out if you have ppi or not and the timescales involved but if you are unsure or not confident enough to submit your ppi claim by yourself then use a claims management company but never pay more than 15% for their service.