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Have I Got PPI And Can I Claim?

Over recent years, a lot of people have been asking themselves the question, have I got PPI? You see, the difficulty is that the banks and credit card companies made it difficult for people to understand as to whether or not they were paying this type of insurance, so looking through your paperwork does become a bit of a nightmare.


So, What Do You Do?

The idea of something being so difficult to understand is often enough to just stop people in their tracks and decide not to go any further, but that in it has to be the worst thing that you can possibly do. You see, there are people in the UK that have managed to claim tens of thousands of Pounds back through a PPI claim and the average compensation figure is a four figure sum. Now, do you really want to just give up when you could be sitting on a reasonable sum of money?

What you need to do is to get some professional help because look at it this way, do you feel that the banks will be more than happy to help you to claim a large sum of money from them? OK, they have set aside billions of Pounds for PPI, but they are not actively contacting people that are able to claim and instead are leaving it up to the individuals to do all of the hard work themselves.

There Is A Way Forward.

This does make it sound as if the entire thing is difficult, but that does not have to be the case. Instead, there is an easy way forward and that is to make use of companies that deal with your PPI claims on your behalf. They are going to check if you do indeed have a claim and then help you to work through all of the red tape that surrounds it with you ultimately receiving the money that you are due. They will also even just spend time checking if you do indeed have a claim, as not everybody does, so can you imagine the amount of time that is saved by you passing this work on to somebody that is an expert in this field?

The Advantages of This Approach.

There are a number of clear advantages of taking this approach and we should summarize things by just listing them for you to see.

1. These companies understand the PPI industry.2. Banks are not going to help you to claim money from them.3. You will get help cutting through the red tape that comes with making a PPI claim.4. These companies will even check just to see if you have a claim in the first place.5. If you do not have a claim, then it is going to cost you nothing.6. They could help you to claim thousands of Pounds.

As you can see, checking as to whether or not you have a PPI claim is easy and when you consider the money that is potentially available, then it makes so much sense to press ahead and see if you are indeed due some money. Why should a bank be able to keep what is rightfully yours? Surely it is better for you to have that money in your own pocket rather than theirs?

Is There A Deadline To Claim?

There is no deadline to claim the PPI. Even if you took out a loan that closed more than six years ago, you can still make a claim if you have the paperwork with you. This is the time frame within which building societies and banks are required to retain information about your card or loan.

My bank has rejected my claim. What now?

In case of a rejection of your PPI claim, the ombudsman can order the bank to pay up. You should, however, not expect a quick resolution if you have to go down this road. The FOS will have a backlog of PPI complaints that would take years for them to be resolved. If you decide to use the services of a claims management company, you would be paying that company a hefty fee in case they claim it on your behalf successfully.