How to Retrieve Your Payment Protection Insurance Premiums for Free

If you are feeling pressured and are rushing to get your mis-sold PPI money back, you don’t have to get help from elsewhere. There is no need to contact a claims company unless you’re facing a severe lack of time and you don’t mind losing part of the money to them.

There is a simple, sure way to get all the money back for free. Don’t be intimidated by an old case of mis-sold PPI – you are entitled to making a claim even if the event happened a decade ago. The following is a short guide to retrieving the money that is rightfully yours.

Do you have it? Gather documents and proofs

PPI wasn’t only attached to loans, but also to car finance, credit cards and so on. Some people even have more than one such policy and never knew of them. Because the addition isn’t always obvious, simply call or write to ask about such inclusion and then send a standard complaint letter if applicable.

Especially if your case is an old one, you must provide all the necessary documentation and evidence, because the lenders keep the papers for a limited amount of time. The best method is getting your credit report from one of the responsible agencies. Consider Equifax or Experian, for example.

Make the claim

To address a claim, you have to contact the company that sold you the insurance. Don’t forget to mention the circumstances and the reason why you were non-eligible for PPU inclusion. You don’t need a claims firm if you are willing to do this by yourself. There is nothing extra it can do, they don’t have any more success or credibility than you would. Learn how to claim PPI on your own.

Banks and other major institutions are now easy to deal with, but there could be problems with the smaller lenders. When you don’t get a fair amount, you may escalate the complaint by taking it to the Ombudsman. If they don’t respond at all to your letter, you are entitled to take your case to the financial Ombudsman after an 8-week period of time.

The standard procedure involves using one of the PPI claim template letters available. You may delete the non-applicable segments, just fill it out with what is relevant. Customers can now fight back easily, since the mis-selling has been exposed, as well as the other tricks that would lower the compensations.

Author Bio : Brad Tylor loves to offer simple and effective advice in his writing about the most popular financial products. He is currently addressing PPI claims concerns.

Author: Calvin Brycen

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