In the last few years, something called PPI has been making big headlines in the UK.
What is PPI you might be asking? Basically, it was something that was sold with many loans, mortgages, and credit cards. Unfortunately, the majority of policies were illegally sold, which means millions of people are now entitled to their money back.
If you think you have a PPI claim, and you want to get revenge on the bank, mortgage company, or credit card company that ripped you off, then there are certain tips that can help make the whole process extremely smooth.
Make sure you have a claim
In order to make sure you have a claim so you don’t end up wasting your time, you need to check all of the paperwork that was issued with your loan, mortgage or credit card.
If you see any mention of PPI then there is a high chance that you have a claim, which means you should look to strike while the iron is hot!
Contact the institution
The next step in claiming back PPI is to contact the institution which mis-sold you the policy. For example, if you had a PPI policy from a bank, then you should send them a letter detailing why you think the policy was mis-sold and the amount you are demanding.
Not sure how to word your letter? Don’t worry, as there are many PPI letter templates on the internet. Simply find one which meets your needs and edit it slightly to fit in your unique details.
Once this is done, send it by recorded delivery through the post, so there is no chance they can say that the letter was never received.
Wait for their reply
Typically, you should receive a reply from the institution within a couple of weeks. Don’t expect them to simply hand you over the money though, as in the majority of cases they will look to play hard ball and deny you of the settlement which is rightfully yours.
Don’t give up though. If you feel confident in your claim then keep sending them letters. It may take a little while, but eventually they will give in and either send you a check or make you an offer.
PPI claims company
Maybe you don’t have the time or expertise to file your own claim? In this situation, it’s a good idea to seek the help of a professional PPI claims company.
They can tell you exactly how much you are owed, and contact the institutions on your behalf, which means you don’t have to worry about writing letters.