Think about Things Beforehand – Reclaiming PPI

If you're one of the thousands of people who have taken out a loan or credit card with an unwanted PPI policy attached to it, you could be eligible to make a claim for compensation. Recently the headlines have been full of stories of mis sold PPI and the high street banks who were found to be responsible. Now that the scandal of mis-selling has been made public, people who have been victims of the PPI racket should ensure they are informed about making a claim and what this involves. In light of this, the steps below should help make the process clearer in the minds of those wishing to claim. How to tell if you've been mis-sold PPI There are a few ways to tell if your PPI policy was mis-sold to you; if you didn't want or need PPI when it was sold to you, you will need to examine why you ended up with it. The insurance you took out with your loan, credit card or mortgage will need to have been taken out in the last six years. If it was longer than six years, you could still have a right to complain if you only found out about the mis-selling in the last three years. With these initial questions answered, you should take a moment to consider some of the common signs of mis-selling, which include: · Being told that the insurance was a compulsory part of taking the loan or credit card · Being led to believe it would increase your chances of approval for the loan · Not being made aware that you had the insurance policy in the first place In addition to these, if one of the following applied to you at the time you were sold PPI, the chances are you were indeed mis-sold the policy: · Unemployed · Self-employed · Retired · Working less than 16 hours per week · In the Armed Forces · Working in the Civil Service · Working in the NHS · Suffering from a pre-existing medical condition If any of these sound familiar, you should proceed to the next steps of reclaiming PPI. It may take a long time for a bank to get in touch with you if that is something they have promised to do; instead, look at how you could make the process easier. Legal expertise could help to make things faster and more efficient when the time comes to make your claim. Not only that, a good claims management company could help to get you the highest amount of compensation possible. Choosing who to manage your claim It's important to choose a reputable claims management company who offer a customer driven service. Do they look at all your borrowing history to spot any previous PPI policies? Are they up front about the fee they will charge, and are there any hidden extras? It's crucial that you choose a service where you're kept up to date about the progress of your claim and where all your questions are answered promptly. A good company will be able to tell you in minutes whether you have a claim for compensation or not.