28 December 2015
This, and other questions, answered by the team at Scottish PPI Claims.
I have looked on the paperwork I have but I cannot see anything that looks like payment protection insurance (PPI). But, the lender has written to me, sending me a form, and inviting me to make a claim. What does this mean?
Some time ago, banks and lenders were told that good practice would be to write to their customers that they knew had PPI, and ask them to submit a claim. This way, the lender could take a look at individual cases, asses them for compensation and then make the appropriate payment.
Don't forget that PPI is, in many cases, a generic term and so it may not be a policy that is called PPI, but something else!
If you have received a letter from your bank or lender telling you that you have PPI, then we suggest submitting a claim. You can do this yourself or, for a fee, we can do this on your behalf.
I have claimed PPI compensation but I keep reading about people possibly being due more. I feel that the whole thing has become so complicated now. Am I entitled to more compensation? How would I know?
There have been many peaks and troughs over the last few years concerning PPI compensation. One such issue has been that some 2,500 customers of Lloyds Banking Group may have been under-compensated. This was to do with fees and costs not being reimbursed either at all, or not correctly.
The bank was told to contact all those people that it affected and make the situation right. If this applied to you, your bank should have made contact.
If you are unsure, you can always call PPI Scotland for further advice.
I had a credit card some years ago but the original provider is no more. I'm not sure my claim will be even valid it is that old. Do I have a claim?
The best thing to do in this this case is to call us. Many people think that there are barriers to them making a claim - time being one of them. On one hand, this is true but, in the case of PPI claims, it may be that we can claim back your money on your behalf.
I have read that if you were sold PPI, you definitely can claim your money back. Is this true?
The vast majority of people who were sold PPI do have a claim for compensation but this does not mean that everyone has a claim; there may be some cases, where the policy was sold correctly and was the right policy for someone.
To find if your claim is eligible, call Scottish PPI Claims today.