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SCOTTISH PPI CLAIMS

Scotland Wide PPI Specialists

Is There a Right and Wrong Way to Claim PPI Compensation?

06 November 2017

The FCA advertising campaign encouraging people to make a claim for PPI compensation has started. It is set to run up until the deadline of August 2019. We are often asked is there a right and wrong way to claim? Or, are there things that people can do to ensure success?

Right Wrong

There are no guarantees, with each PPI compensation claim coming down to individual circumstances. But we asked our team, is there a right and wrong way of claiming PPI compensation and this is what they told us…

The wrong way

  • Not doing anything - this means you could be missing out on thousands of pounds of your money.
  • Leaving it to close to the August 2019 deadline - although claims can be made up until 11.59 on August 29th, 2019, our team say that leaving it too late could be a disaster.
  • Not checking ALL accounts for PPI - some people are so convinced they don't have PPI meaning that they don't look at any accounts for evidence.
  • Not checking accouns properly - some customers attempt to make a claim without checking first, wasting their time and the banks when it becomes apparent that there is no PPI policy to compensate.

And so the right way to make a PPI compensation claim looks like this:

BEFORE you do anything, take a look at each and every single account on which you had credit tocheck for a PPI type policy-don't forget that PPI or payment protection insurance is a generic name for any kind of insurance policy that promises to make repayments if you cannot.

Check accounts such as:

  • Catalogue accounts
  • Credit cards
  • Car finance
  • Personal loans
  • Secured and unsecured loans
  • Mortgages (although these were less likely to have PPI added to them as such, except in a few cases)
  • Store cards

It is always 'easier' to make a claim for PPI if you offerproofin the first instance that shows you have the policy on your account; policy numbers are the solution in this case

As part of your complaint, you also need to tell themWHY you were mis-sold PPI. There are many reasons, such as;

  • You were given the impression it was compulsory
  • You were told that your application for credit was 'more likely to be accepted' if you opted for PPI
  • You were not told that there were exclusions in the terms and conditions of the policy that meant any pre-existing medical conditions, for example, were not covered
  • Some conditions and illness were not covered by the policy, such as mental health illnesses or back pain etc.
  • You were self-employed or retired when you were sold the policy (the policy did not cover people in these circumstances

Don't take NO for an answer! Many customers think that if the bank says no, there is no way they can go on to challenge this response but there is…

… and Scottish PPI Claims know what this is - so why not call us to find out more?


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