Making a PPI Compensation Claim – the stepped approach

There are claim for compensation made every day because payment protection insurance (PPI) was mis-sold on a gargantuan scale.

The time has come for you to make your claim but, are you sure you know what to do? Take the stepped approach to making a claim:

Step 1 GATHER THE EVIDENCE

In order to have a claim, you need to show that you not only have a PPI policy, but that you were mis-sold it.

You do this by finding every single piece of paperwork, statements and letters that you have that relates to any account that lent you money. Check everything from personal loans (also known as unsecured loans), mortgage (although this is rarer), credit cards, store cards, car finance and so on.

Step 2 DOUBLE CHECK THE EVIDENCE

This is where it can become a little complicated because PPI is a generic label for an insurance policy. In other words, you are looking for an insurance policy that promises or guarantees to make repayments on your loan or account in the event that you are unable to due to loss of income.

This sounds a bit long winded but, many people often look for PPI and when they do not see it, they assume that they don’t have it.

Step 3 CAN YOU REMEMBER HOW IT WAS SOLD TO YOU?

In some cases, you won’t have any recollection because it was added to your account without your knowledge.

Or, you may recall being told that it was a compulsory part of taking out the loan or you were giving the impression that your loan was more likely to be successful if you took out the policy.

Many people tell us that they ‘just signed for it because it seemed to be part and parcel of the same thing’. This is not the correct way to ‘sell’ anyone a financial product and thus, compensation could be yours.

Step 4 CONTACT PAYMENT PROTECTION SCOTLAND

Or, you can choose to make a claim yourself by telephoning or writing to you bank with your compensation claim. Likewise, you may also find forms online on their website.

You may, however, that you want help with making a claim, or because you have more than one claim that you need help to deal with them all. For a fee, we can help you make a claim for PPI compensation.

Step 5 Sit back and let Payment Protection Scotland do all the hard work…

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