With the August 29thdeadline fast approaching, now is the time to put your PPI claim in and ensure that you claim back the money that you are owed. Whether you opt to reclaim PPI through a claims company or you work through the process yourself, there are a number of ways that you can get the money that is rightfully yours.
What Is PPI?
If you are thinking about claiming your PPI compensation, it is vital that you are aware of what it is in order to know whether or not you are entitled to the money. PPI is payment protectioninsurance that was sold on with Loans, mortgages and credit cards to ensure that if the borrower was to fall ill then the money that they had borrowed would still be paid back. So many people up and down the country have been wrongfully mis-sold this insurance and they didn’t even know.
How Do I Know If I Am Eligible?
Finding out if you are eligible for PPI compensation is easy. All you have to do is gather any evidence that you have of a loan, credit card deal or car finance. If you have taken out a loan in the last 10 years of this style, then it is likely that you are owed PPI. If you gather as much information as possible that provides proof of the loan that you look out. The decision isdown to you as to whether or not you begin to look for a trained PPI claims company or you decide to do it alone. If you decide to use a PPI claims company then you will find that the process becomes very straight forward. You will need to send the required information to your claims company, who will then put together your proposal and begin working on the case for you. This is the perfect solution for those with a busy lifestyle, as it is all taken care of for you helping to reduce the stress.
How To Make A Claim?
Making a claim is simple. All you need to do is send all the evidence that you have to your PPI claims company and await a response. However, it is crucial that you do not forget about the claim you have made, as there may be additional evidence that is required throughout the process.
If you do decide to take on the claim alone then this process will be slightly different. You will be required to write a letter to the lender explaining your situation and that you think you may have been mis-sold PPI. Next, you need to attach copies of the letters and evidence that you have gathered and send this to the lender. The lender will need to send you a response within 8 weeks, or they are breaking the guidelines laid out by the Financial Ombudsman Service.
Whether you decide to opt for a PPI claims company to help you out or you choose to make your claim alone, there are a number of different ways to make a claim and hopefully get the money that you are owed.