Learn About Making A PPI Claim


Many people are choosing to try and claim back the money they spent on payment protection insurance because they feel that they were mis-sold it. If this sounds familiar, what can you do to get your money back? This article gives you the lowdown on reclaiming PPI. The first thing you need to do is get your case straight. Get out your old policy documents – or get them from your lender if you don’t have them – to work out your eligibility to claim.

Now you need to think about what happened when you bought the policy as this will be important for your case. Think about whether everything about the policy was explained to you as it should have been and whether your eligibility was made clear to you. If you were told the policy was compulsory when it wasn’t then you’ll have a good case. Also think about how you bought the policy – as much information as possible to give you the best possible chance of success.

Your next step is to write to your lender. You can use a pre-set questionnaire agreed by the FSA and the banks to help you. The purpose of this is to inform your lender that you are requesting a refund and to give them the grounds on which you are requesting it. Send as much evidence to support your case as possible, along with any necessary documentation. This will at least get the ball rolling on your case even if they refuse your initial request.

Now the ball is in the lender’s court while they decide what response to give you about your payment protection insurance. In the event that they reject your claim, you need to contact them again to tell them you’ll be carrying on with the case and explaining why you think their decision was the wrong one. Tell them that if they don’t agree you have a claim, your next step will be to write to the financial ombudsman to ask for assistance.

Hopefully at this point, your lender will agree to refund your money as there is now a precedent set for reclaiming PPI. If, however, they still refuse to do so but you think you have a genuine case, write to the financial ombudsman. Detail everything that has happened so far in your case and include copies of the letters you sent and your lender’s reply. The ombudsman has a good success rate on PPI cases, so hopefully this should get the job done for you.

Find Out More : MBNA PPI Claims

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