PPI Claims – What you Need to Know
If you are thinking of making a claim for compensation believing that payment protection insurance (PPI) was mis-sold to you, there are some key facts that you need to know:
#1 Providing proof
As per consumer and financial laws in the UK, as a customer if you believe that a financial product has been mis-sold to you, you will need to provide ‘proof’ that this was the case.
In the case of PPI, it has come to light that there are many reasons why PPI was mis-sold to customers:
- Terms and conditions not explained clearly
- Exclusions were not made obvious to customers
- Customers were told or given the impression it was compulsory
- Some people were advised to buy PPI but were unaware why it was the right policy
- Many people felt pressured into buying PPI
- Other customers felt that their application for a loan etc. would not be successful unless they bought the policy
- They were over the age of 65 years when it was sold to them
- They were self-employed
There are other reasons too, all of which PPI Scotland can talk through with you when you call them.
#2 Within the deadline
There is talk of introducing a deadline for PPI compensation claims. Many people believe that this deadline will be summer 2018 but this has yet to be confirmed.
If you received a letter from your bank or lender telling you that you may have been mis-sold PPU, you have three years from the date of the letter to make a claim. If you have received a letter, you MUST act because by writing to you, the bank is more or less telling you that you have PPI – and that there could be a heap of cash with your name in it!
#3 Do it yourself or get professional help
Not everyone is a fan of claim management companies, believing that they charge huge fees for something that customers can do themselves.
You can defend yourself in a court case but most people choose to use an expert solicitor. So when it comes to PPI claims, why not use an expert and reputable claim management company such as Payment Protection Scotland?
Can Payment Protection Scotland help you?
With a high success rate, we put our success down to the rigorous assessment process that we have. We examine every case in detail, ensuring that we gather as much information as we can from you in order to create a case that the bank or lender will find hard to refute.
We are successful at what we do and we can help you too – call us now to find out more!