September 29, 2023

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Our Guide To Reclaiming PPI IN 5 Simple Steps

Whether you are a business or an individual looking to reclaim PPI there are several ways that you can proceed to make the process as simple as possible. Within this article, we are giving you our quick guide to reclaiming PPI in 5 simple steps.

Find Paperwork

The most important element when reclaiming your PPI is the paperwork. Although it is not the end of the world if you have very limited paperwork, it is important to gather as much paperwork or documentation as you can as this will act as evidence for your case. Although this may not be the deciding factor to the overall success of the case, this will also help to solidify the case.

Begin Putting Together Your Claim

If you are opting to make the claim for yourself then it is important to begin putting together a letter to present the details of your enquiry. It should detail all the claim that you are making as well as having all documentation attached. It is important that this is sent to the lender directly as this will ensure that you get the result as quickly as possible. If you are claiming PPI from a bank it is important to remember that your claim will have it be passed through a claims department and could take significantly longer.

Send Evidence To Your Claims Company

If you decide to use a claims company to guide you through the reclaiming process, then it is important to ensure that you provide them with as much information as possible. This will not only help them to gain a profile on you but also get the best possible result from the campaign.  This is beneficial for those with a busy lifestyle as the PPI claim can be running in the background as you go about your daily routine. These companies operate on a no win no fee basis meaning that there is no money taken from you unless you are successful.

Await Results

Once this has been sent off it is important to be patient. This is because there is a long queue of people also waiting to receive results. It is important to get your claim in as quickly as possible as this will help to reduce the waiting time that you are met with. The same is to be said about the PPI deadline. Although the deadline of August 29th is fast approaching, there is a backlog of claims that are slowly being sorted. This will mean that the claims being made will be dealt with accordingly and you may have to wait a little bit longer to receive your payment.

Make A Complaint If Wrongfully Rejected

If you have waited over 8 weeks for a reply from your lender then this could be grounds for a complaint to the FOS. They will then contact them and put them in contact with you to get your claim underway. A claim can also be made to the FOS if you believe that the claim has wrongfully been rejected.

Whether you are in the process of collecting the paperwork for your PPI claim or you are still hesitant as to whether you should make the claim, there multiple ways that you can reclaim in 5 simple steps. When will you begin?