How to claim back PPI – Payment Protection Insurance

Claiming back PPI which has been mis sold on loans and credit cards  is not without its pitfalls. Firstly, you need to know whether you have taken out PPI and this can involve writing to your lender to request details about your loan or credit card. This is known as a data subject access request. Many people have come to us feeling frustrated as their lender has failed to respond to this request, which means that they are unable to proceed with a claim without all the necessary documentation.

Once you have all the relevant details to hand, a statement of claim needs to be drafted and sent to the lender, setting out why the policy was mis-sold and requesting a refund of the amount due. You will need to know how to calculate how much is due to you so that you are in a strong position to negotiate with the lender if their offer falls below the amount you expect. You will also need to know what course of action to take if the lender rejects the claim or requests any information from you.

We know the PPI reclaiming process inside out and can handle the entire claim on your behalf. We know how to calculate compensation, when to accept an offer and when to reject it and we can usually advise you on how long it takes to claim back PPI, although this can vary depending on the complexity of the claim and the initial response of the lender. We also know when it is necessary to refer the matter to the Financial Ombudsman Service, how to submit the correct documentation to them and their methodology behind dealing with PPI complaints.

Contact us today by completing our claim form to find out if we can assist you with claiming back PPI premiums. We charge a flat fee of 25% plus VAT of any amount we recover on your behalf and our fee only applies if we are successful with your claim. It’s that simple. Average claims for mis sold PPI are around £2,000, so it’s worth contacting us to find out whether you are entitled to make a claim.