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Scotland Wide PPI Specialists

5 Important PPI Issues You Need to Know

22 May 2017

Most payment protection insurance (PPI) claims submitted to banks and lenders are straightforward cases of customers being mis-sold the policy. But in recent years, there has been a growing nature of complexity about them, something noted by the Financial Ombudsman.

There are several issues customers have when they contact us about their potential PPI compensation claims.

Issue 1: Account status

This is a common concern.

If the account is active - that is, you are still making payments - then you are entitled to submit a claim at any point.

If the sccount is inactive - in other words, the balance has been paid and the account is closed - you can still make a claim but it must be within the time limit of 6 years. This means that you must have made a payment or paid the balance within the last 6 years.

If you are unsure, don't waste the opportunity, contact Scottish PPI Claims!

Issue 2: Age of the PPI policy

This can be confusing as banks and lenders tell customers that they only keep records of accounts for the last 6 years. But this doesn't mean that you cannot make a claim.

There have been various rulings etc. that means if you were sold the policies in the late 1990s, when the practice of mis-selling PPI was at its height, you can still make a claim.

Scottish PPI Claims can help you! Contact us NOW for more information

Issue 3: Multiple PPI policy holders

Some PPI policies were held by one or more person.

Providing both parties are in agreement, a joint claim can be made. A common reason for mis-selling of PPI was that many of these 'joint' policies were not 'joint' at all as they only covered one person named on the loan agreement. Sadly, for some people they did not realise this was the case until they tried to make a claim.

Scottish PPI Claims offers a no win, no fee service on all PPI claims.

Issue 4: Using a claim management company

Many claim management companies have given the service a poor reputation by sending unsolicited text messages and making vexatious claims.

Check the credentials of any claims management service you plan to use. Their terms and conditions should be clear and fee structures transparent.

We provide a quality, comprehensive service - contact us NOW for information on our fee!

Issue 5: Uncertainty about HOW to prove mis-selling PPI

There are many reasons why customers were mis-sold PPI, ranging from being told that the banks or lenders 'own brand' of PPI was compulsory through to customers paying PPI without knowing it.

Contact Scottish PPI Claims TODAY for honest, impartial advice!