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PPI Claims are you entitled to a PPI Refund***

Reclaiming mis-sold Payment Protection Insurance or PPI is big news at the moment and many people have seen refunds of several thousand pounds if they had a mis-sold case . PPI is a product that is often sold alongside financial products like credit cards and loans. The idea of this type of PPI insurance is that it may cover your credit repayments in the event of you not being able to pay for them for a variety of reasons.

Over the last five years it has come to light that many financial institutions in some cases have been mis-selling this insurance to their customers. Some people may have been sold PPI when they would never have been able to claim against it, for example, if they were self – employed. In some cases customers have not been informed that their monthly credit repayments included a charge for this insurance. Another type of mis-selling that has occurred is where customers signing up for credit online have had to opt out of the product by marking a tick box on the screen, but this has not been clear.If you believe that you were mis-sold a policy you can try to claim PPI back from your lenders. There are also companies that may help you to claim PPI back

In order to claim PPI back if this was mis sold to you , first start by either writing to your lender and asking them for a refund. In some cases this will be enough. In other cases the lender will ask for proof of mis-selling. You can send them letters and statements that back up your case. There are many template letters available for this online or you could use a claims management firm who will charge a fee and work on the case direct, If your lender still refuses to refund you, your next step will be to try to claim PPI back through the Financial Ombudsman. The Ombudsman will review all of the evidence and make a decision on your personal case.