How to Make a Successful Claim for PPI Compensation
Have you ever wondered if there is a secret to securing a successful claim for PPI compensation?
There are some factors that make for a successful claim. With our experience, we understand exactly how you can make a claim that is successful. Take a look:
#1 It must be a genuine claim
When the process for compensating customers for mis-sold payment protection insurance (PPI) started, some banks and lenders said that their system was clogged by disingenuous claims. In other words, people were attempting to claim PPI compensation when they didn’t even have a PPI policy.
This is why it is important to check that you have PPI before you lodge a complaint.
#2 Having proof helps
The one thing that we find help PPI compensation claims run smoother, is when the customer has as much information, documentation and statements as they possibly can.
This could be anything from the original agreement, bank statements, account statements and so on. This way, the bank or lender find it harder to refute a claim or to pay out less money in a PPI settlement.
#3 Understanding why PPI was mis-sold to you
There are many reasons why PPI was mis-sold to you. It could be that you were unaware of some of the exclusions under the policy; if they had been flagged up with you, you may not have taken out the policy.
In fact, this is the crux of any PPI compensation - if you had known about exclusion or ‘special conditions’ under the policy, would you have still gone ahead and bought it?
#4 Just because you agreed to buy it, doesn’t mean it is the right policy
There are instances in which customers felt that because they did agree to buy the policy, that they don’t have a claim for PPI compensation.
This is not the case as agreement does not mean that you were aware of everything in the small print. Although there is an expectation to read all the fine print, if the representatives selling you the product does a good job, you should be aware of everything involved in buying the policy.
#5 A claim management company can be helpful
People come to Payment Protection Scotland because they want to. They want to hand over the PPI claim to a third party. We do not guarantee success but we can create a complaint for PPI compensation on your behalf that can be both compelling and irrefutable.
Like other professional companies, we charge a fee for this. To find out how much making a PPI compensation with Payment Protection Scotland costs, call us today!