How To Make Payment Protection Insurance Claims On Your Own
Millions of pounds have been successfully reclaimed for mis sold ppi by claims management companies and individuals alike but many individuals are still unsure of how to make ppi claims by themselves and by reading this hopefully you will have a understanding of what to do and expect during the process.
Ok firstly you need your finance agreement to see if you have been sold payment protection if you have not got it and the agreement was within the last six years then write a letter to the lender requesting a copy of your agreement under a Data Subject Access Request and enclose £10 to cover the cost of this.
So you now have your finance agreement and checked it has ppi added to the agreement so you now need to write a letter of complaint to the broker or finance company who sold you the finance. Your letter should be short and to the point do not elaborate in the letter.
Points in the letter you should include are the agreement number, when and where you signed the agreement and the reason you believe you were mis sold ppi in the first place.
Reasons for being missold ppi could include you were working for less than 16 hours per week, were self employed, had a pre existing medical condition or simply received full pay had you been off work sick. This is some common reasons people make ppi claims but it is not an exhaustive list.
Next send your letter of complaint to the broker or finance company but make sure you send it recorded delivery so you have proof it was received by them.
The company will then acknowledge your complaint and should issue a judgement to you within 8 weeks either upholding your complaint or rejecting it. If your complaint is upheld you will then be sent redress which is worked out exactly the same way for everyone so don’t wory.
If it is not upheld you then need to proceed with your case to the Financial Ombudsman which involves visiting their website and downloading two claim forms or by phoning them and asking for them to be sent out. These forms are straightforward so do not worry and will only take about 20 minutes to fill in.
Once you have filled them in send them with a copy of your initial complaint letter and the companies decision not to uphold your complaint and that’s it the process is complete.
The Ombudsman will then decide whether to uphold your ppi claims or not and his ruling is final in the matter.