Home Budgeting Finance The Basics of Reclaiming a PPI

The Basics of Reclaiming a PPI

A lot of people are already filing their claims to get their PPI refunds however there are only a few that were lucky so far. One main hindrance is that most of those people who are filing claims are not qualified while others have insufficient knowledge about the whole process.

At haveigotppi.org.uk, you can learn the most basic things that you need to know before filing a PPI claim to your lender.  Don’t be too hasty in making that claim if you don’t have enough background and you are not sure that you are eligible for it.  Be sure that you have some comprehension of the approach that you will be used in filing your claim.

What to Do When Making PPI Claims

The first thing is you must have full knowledge about what PPI claims are.  You cannot claim something which you do not know.  Remember that you are only allowed to file a claim if the lender mis-sold the PPI policy to you.  Because of this, you are losing money.  Mostly, a lender will sell you a PPI policy behind your back.  This is the ideal time that you can say that you deserve a refund.


After you have recognized this, then the next thing would be to start obtaining your money back.  What you can do is write a letter to your lender.  Then you can look for a claims company that will handle your PPI claim.  You don’t have to worry because these companies are experts in handling these cases.  If you would do it on your own then it can be very challenging therefore it would be smarter to obtain the services of a claims company.  Oblivious consumers do not know the amount of money that they can get after a successful claim.

You can make research about the basic information that you need to know before deciding to make a claim.  When searching the internet, you can also find calculators which can help you in computing the total refunds that you are supposed to receive.  These are quite dependable since you can use them in determining the anticipated refund that you will be getting so that you will not be surprised by the result.

In general, the refund that you will be receiving is equal to the total amount of premiums that you have paid ever since your loan has started. Occasionally, there might be interest but this is not true in all cases.

Some consumers are concerned about what can they do in case their claims are overruled? There’s no need to worry because you can still have the chance to seek assistance from the Financial Ombudsman Service. You might think that this is the end and the lender has won but not at all. The system provides you the opportunity to make an appeal and file it at the Financial Ombudsman Service.  Consumers should take advantage of this chance.

Don’t be afraid in filing for a PPI claim on the lender because it is your right.  With the help of a PPI calculator, you can determine the amount that you will be receiving as a refund.

How to Evade Pain of PPI Claims

An important question that you should ask yourself would be if the agony of making PPI claims is worth it or not.  Unfortunately, most of the consumers who are making PPI claims do not know what they are in the first place.  You should know what are the things that you need to do so that you will not fail in seeking your refund.

As a beginner, you should make broad research to learn about all the important things with regards to PPI as well as its significance.  You should not take the policy because a friend advised you to do so.  Otherwise, you might be one of those people who are now seeking PPI claims.  Think about it thoroughly and decide if it is really significant in your financial life.  You should also consider that there are other ways in repaying your loan aside from taking a PPI policy.  You can visit haveigotppi.org.uk to get more information about PPI claims.



Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Skip to content