Payment protection insurance (PPI) was at the midst of one of the biggest financial controversies in recent years. PPI was mis-sold, along with loans and mortgages. Many people were scammed off their money. As soon as the dust settled, all that's left are everyone eager to make PPI claims and banks who refuse to hear them.
To be certain, many PPI claims happen to be heard and several individuals have had their cash returned. However, the journey to getting years' worth of money-back may be hard and long. Well established banks (who have been part of the entire PPI fiasco, mind you) don't cooperate and are making PPI claims processing unnecessarily long.
So what do you do now? You've been scammed off your money. You've got to make PPI claims (yes, plural). What do you do if the bank/financial institution where you bought your PPI is making things difficult for you?
The first thing you should do is talk to other people who've been scammed. There are a lot of support groups out there, given the number of victims of the PPI scandal. Find the success stories and try to emulate their example. Try to locate the ones who filed their PPI claims at the same bank as yours. Ask if the bank was being particularly difficult and what measures they took to get their money back.
After that, make sure your paperwork is complete. Find all evidence of your accounts, or you can demand this from the bank. The more thorough your monetary documents are, the better your claim will be. Even though you haven't been accumulating your bills and accounts over the past few years, you can still pay your bank to achieve this for you. If you've paid, then they're needed by law to show you your whole transaction data.
If the bank still rejects your PPI claims however you have evidence that your Payment Protection Insurance was mis-sold, you may appeal on the Financial Ombudsman service for help. If they find that your claim is correct, then you'll absolutely have your money-back... eventually. Since most people have now fled to the FOS for support, anticipate that you will see long lines and backlog. Don't be disappointed with this. The important thing is that justice will be made and you'll have your refund.
Oh, and one final thing. DON'T HIRE PPI CLAIMS COMPANIES. We can't strains this enough. These conm - ahem - middlemen state that they'll make the whole PPI claims business faster and you'll have your money back very quickly at all. This is an absolute lie, of course. PPI claims companies have no more control above the discounts procedure than you do. Don't be lured by promises of quicker refunds even though your personal attempts are excruciatingly slow. These individuals will shed 25% of your refunds plus VAT, thus acquiring a large portion of your refund money. Regardless of how much they promise they're legitimate, they're not. Be cautious.
We hope all of you the best in doing your PPI claims, and we hope everything goes properly for you. If not, maintain your chin up and be sturdy. Best of luck!
To be certain, many PPI claims happen to be heard and several individuals have had their cash returned. However, the journey to getting years' worth of money-back may be hard and long. Well established banks (who have been part of the entire PPI fiasco, mind you) don't cooperate and are making PPI claims processing unnecessarily long.
So what do you do now? You've been scammed off your money. You've got to make PPI claims (yes, plural). What do you do if the bank/financial institution where you bought your PPI is making things difficult for you?
The first thing you should do is talk to other people who've been scammed. There are a lot of support groups out there, given the number of victims of the PPI scandal. Find the success stories and try to emulate their example. Try to locate the ones who filed their PPI claims at the same bank as yours. Ask if the bank was being particularly difficult and what measures they took to get their money back.
After that, make sure your paperwork is complete. Find all evidence of your accounts, or you can demand this from the bank. The more thorough your monetary documents are, the better your claim will be. Even though you haven't been accumulating your bills and accounts over the past few years, you can still pay your bank to achieve this for you. If you've paid, then they're needed by law to show you your whole transaction data.
If the bank still rejects your PPI claims however you have evidence that your Payment Protection Insurance was mis-sold, you may appeal on the Financial Ombudsman service for help. If they find that your claim is correct, then you'll absolutely have your money-back... eventually. Since most people have now fled to the FOS for support, anticipate that you will see long lines and backlog. Don't be disappointed with this. The important thing is that justice will be made and you'll have your refund.
Oh, and one final thing. DON'T HIRE PPI CLAIMS COMPANIES. We can't strains this enough. These conm - ahem - middlemen state that they'll make the whole PPI claims business faster and you'll have your money back very quickly at all. This is an absolute lie, of course. PPI claims companies have no more control above the discounts procedure than you do. Don't be lured by promises of quicker refunds even though your personal attempts are excruciatingly slow. These individuals will shed 25% of your refunds plus VAT, thus acquiring a large portion of your refund money. Regardless of how much they promise they're legitimate, they're not. Be cautious.
We hope all of you the best in doing your PPI claims, and we hope everything goes properly for you. If not, maintain your chin up and be sturdy. Best of luck!
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Go Claim PPI have a 100% success rate at helping people to claim back PPI compensation.
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