Discover How You Can Get Payment Protection Insurance Compensation
The vast majority of people who have had loans or credit cards with PPI will be entitled to receive payment protection insurance compensation. Why? Because in most cases the banks knowingly mis-sold these policies to people who if they ever needed to make a claim on them would not be able to. Some of the most common forms of mis selling involve the following:-
- Selling it to you if you're retired or self employed
- Selling it to you without checking if you have any previous medical history
- Telling you that the cover is compulsory
- Not telling you that PPI has been added to the loan
As you can see a lot of people will fall into one of those categories, and if you think you do then it's highly probable that you will get some form of payment protection insurance compensation. After all it is thought that only 1 in 5 people who actually needed to use the PPI were successful, which of course means for the other 4 it was a very expensive cover which was of no benefit to them.
The first thing to do in pursuing a claim is to contact the company who sold you the insurance and write to them stating exactly why you believe you were mis sold the policy. Chances are they will respond that the policy was sold fairly, however don't let this put you off and if no offer is forthcoming write to them again and insist that the issue is resolved within 14 days.
If after the second letter there is nothing happening for you, then you have a choice of two options. The first of which is to go to the Financial Ombudsman explaining your case why you think you have been mis-sold the policy and deal through them. The other is to use a solicitor (preferably on a no win no fee basis) and they will fight your case for you.
