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Scotland Wide PPI Specialists

Worried About Claiming PPI Compensation?

17 July 2017

You needn't be with Scottish PPI Claims on your side! With many years of experience in helping people to claim back their cash, everything you need to know is right hereā€¦

Claiming PPI compensation does not affect your credit rating

Many people, especially those of us with debt, worry that claiming PPI compensation will affect their current debt problems - that is, make the situation worse.

There are many reasons why people end up in debt. One is that banks and lenders are not always at their most helpful, piling on charges and fees at a time you can ill afford to pay extra.

PPI was an expensive product and on some accounts, the premium was not a fixed amount. For example, on catalogues and credit cards, the PPI premium was calculated each month as apercentage of the amount outstanding on the account.In other words, the more you owed on your credit card, the higher your PPI premium.

But the great news is you could claim all this money back, plus interest. How helpful would that be in dealing with debt?

The bank or lender should tell you if you have PPI

Over the years, there have been many arguments and reviews relating to PPI and how it was sold. There were also arguments and counter-arguments relating to the information banks and lenders had relating to PPI.

At the beginning, many banks and lenders were resistant to PPI compensation although now, the majority are compensation freely and within the guidelines.

However, it can still be difficult getting the basic information from a bank. But, once a PPI complaint has been lodged with them, they have to deal with it.

You will need to tell them why you think PPI was not a suitable insurance policy for you

This doesn't have to be a long drawn out argument. Many people, for example, did not realise what it was when the bank or credit card provider 'helpfully' added to their account.

Catalogue account holders or people who applied for store cards did not fully appreciate the little cover this expensive insurance actually offered them. This is because as a customer, you were not given the full facts.

If you knew your current health problem was not covered, would you have taken out a policy that was effectively useless? If you knew it did not cover people over the age of 65, would you still have said yes to it, even though you were 68 years old at the time?

Scottish PPI Claims will help

We have a success rate of over 93% which means that in the vast majority of cases, we win on behalf of our customers. Find out more, call us NOW!