What Is the PPI Claims Form?
Before you start the PPI claims process, you should know the accurate answers to two questions:
- What is PPI?
- Why is there a PPI claims form?
Payment Protection Insurance (PPI) is an insurance premium. If you have taken out a mortgage, credit card, or another loan in the last 15 to 20 years, chances are that you have also been paying the extra cost of PPI. This program was designed to cover loan repayment if you weren’t able to make payments because you lost your job, became ill, or for any other reason.
Records show that millions of these policies were sold in the last couple of decades, which wouldn’t be a problem except that many people didn’t know they were buying the coverage or were told that it was mandatory in order to get the loan. In the last few years, it has become common to address this situation by saying that dozens of banks mis-sold PPI.
The Claims Form
To get a refund from your bank or other lender, you must provide basic contact information plus information and documents that you have pertaining to the loan. You may want to use the convenient form provided by a company that has experience helping thousands of consumers file successful claims. This can be done quite easily when you visit the website and use the contact form provided.
You’ll soon receive a package containing everything that you need for the claims process. There’s no cost to you and no obligation to continue. If you decide to work with the specialists, you will have access to a team who will answer your questions and guide you through the process. This may reduce the time that it takes to resolve the claims issue. Many more people are now aware of the problem and are contacting the Financial Ombudsman Service (FOS), so the wait time on that path has increased.
Initially, you’ll only need to let the company know such basics as your name, address, phone number, e-mail address, and the number of loans, credit cards, or mortgages that you have. This will be enough for them to get you in their contact file and send you the package mentioned. You only have to fill out the form and click Submit to start the process from the comfort of your home.
Specific Benefits of Seeking Help
You may benefit in several ways when you use a claims management company. The obvious factor is the specialists’ experience in handling claims. They’ve been through the process and dealt with the financial systems in reclaiming PPI that was mis-sold. You’ll reduce the amount of confusion and stress of communicating with banks and financial institutions. Essentially, you have a professional working on your behalf, always on a no-win, no-fee basis.
Whether you know you have PPI but question whether it was properly presented by the bank or if you have a loan, credit card, or mortgage and don’t know if you’ve been paying for PPI, you’d be wise to enlist the help of someone who works with this issue on a daily basis.