How to claim back payment protection insurance
The payment protection insurance saga has led to many consumers feeling they have a strong case for compensation from their lenders. Once you’ve identified your basis for complain, some consumers opt to progress with the help of a claims management agency like SimplicityClaims.co.uk, while others might choose to navigate the system themselves. While the claims process can often be technically involved, and can take a great deal time, perseverance and know-how, PPI compensation claims generally run along a similar timeline.
The Complaint Letter
The claims process starts out with a letter of complaint, outlining the grounds on which the consumer feels he has been wronged. These must be on technically sound grounds, and must be sufficient to persuade the lender to accept liability and settle the compensation claim. At this stage, the ideal outcome is for the lender to acknowledge that the consumer is entitled to compensation, although this is far from a guarantee.
Even beyond the process of the initial complaint, and even if the lender accepts there may be a claim for compensation, they seldom capitulate entirely to the demands of the consumer in the first instance. If a lender thinks a token £50 would suffice, that is what would be offered. This is the stage where the consumer must be aware of the size of his potential claim, and negotiate with the lender to ensure they don’t accept a partial payment or remedy unnecessarily.
Finally, the resolution – either an agreement for compensation with the lender, or a court hearing to decide the legitimacy of your case.
At ukppiclaims.org, we have extensive experience of the PPI claims process, and have worked with a number of clients to assist in successfully claiming compensation from their lender. For many individuals, our risk-free, no-upfront-fees structure represents a more effective way to navigate the ins and outs of an often intricate claims procedure to achieve a satisfactory outcome.
If you’ve been mis-sold PPI cover or you think you might be eligible for compensation, get in touch today to get started on your claim.