In the 1900s and 2000s, Payment Protection Insurance (PPI) was hugely missold in the UK. More and more people are coming forwarding claiming to be victims of this scam. After going through the process, people are walking away with £1000s in reclaimed PPI costs. Below are some steps to make your PPI claim successful. We want to help you reclaim ppi: how to claim £1000s in ppi claims.
Do/Did you have PPI
The first step is to investigate and see if you are a victim of this scam. Do this by going through old paperwork for any loans or debt (car loan, mortgage, credit card, etc.) and see if you had PPI Insurance. Even if a debt has been paid off, you can still make a PPI claim. If you aren’t sure, you can always check your credit report to see what debts you have had in the past. There is no time limit as to how far back you can go for missold PPI. If you don’t have the paperwork for old debts, you may have luck contacting the bank. You can even file claims for deceased relatives, so don’t rule that out.
Was it Missold?
In order to make a claim, it must have been missold. This means you weren’t clear it was an option, you were pressured to buy it, or if it was implied you needed it to get the loan or debt. Another reason you can file a claim is if you are self-employed or have a pre-existing illness, because you would not have been eligible for a policy to begin with.
Beat the Rush
A deadline of August 2019 has been made for PPI claims by the Financial Conduct Authority. As we get closer to that deadline, more and more people will be wanting to file their claims. This will cause a backlog. It is in your best interest to act today to get the process started. The process in its entirety has the potential to take years.
Try, Try and Try Again
Even if you were rejected in the past to reclaim PPI, try again. The fact you were rejected in the past does NOT mean you weren’t missold. There are certain rules and timeframes as to when you can file again, but it is worth a shot.
You can look up stories online and see that many people were successful in their claims. The potential to get back big money is there. However, the first step is to start by recognizing the situation and starting the process and being patient with the system. This will ensure your claim is successful. Start by downloading a template online for free.