30 March 2017
Depending on what you read and where, there are various stories that imply claiming PPI compensation can be hard. Customers talk of facing issues with their bank and well as their refusal to pay out when they clearly have a claim.
Then there is the Financial Ombudsman Service telling us that the cases being referred to them relating to PPI compensation are becoming 'more complex'.
All this leads you to believe that making a claim for compensation after being mis-sold PPI is hard, a complex journey that takes time and effort. With Scottish PPI Claims on your side, you have no such worries because we do all the hard work for you.
As a claim management company specialising in PPI compensation claims, we always check that the PPI settlement offer being made matches out calculations. But, we don't tell the bank or lender what we think they owe you and we do this for many reasons, one of which is complexity of calculations.
The bank has the responsibility to calculate your PPI compensation, ensuring you receive your premiums back, and fees or costs associated with PPI associated with it, as well as an 8% interest rate.
So no, telling your bank how much you think they owe you is not necessary at the initial stages. If you refer your case to the Ombudsman, you may want to show your calculations of what is owed to you etc.
In some ways, showing the bank or lender a photocopy of your PPI policy or providing them with policy numbers can cut down on time - they won't have to trawl their archives etc. to find out if you have PPI or not.
However, proof you have a PPI policy is not proof alone that it was mis-sold to you.
Telling your bank clearly why you believe that the policy was mis-sold to you is an essential part of any compensation claim.
There are many reasons why the policy could have been mis-sold to you but many customers struggle to put that into words, especially when the mis-sale was for 'soft reasons' e.g. the feelingthat unless you bought it, your application wouldn't be successful or thefeelingthat the whole thing came as a package but no one said it was or it wasn't…
Scottish PPI Claims can help you claim your money back. Talk to our expert team right now!