PPI Claims – All You Need To Know Before Filing Your Complaint

Nowadays, many people take home, car, student, gold, auto loans, etc to satisfy their requirements. All of us wish to pay them back on time. However, accidents and life threatening diseases are some of the hurdles, which do not let you to repay the money.

Payment protection insurance or PPI will help you to protect your credit card ratings and debts in such cases. However, many financial institutions are finding new ways to make easy cash with sales of PPI. There are many reasons you might have to file PPI claims and some of them are –

• Bank didn’t tell you of purchasing PPI or the sales executive didn’t explain you the terms and condition of the policy
• You had no clue of the purchase choices
• You did not satisfy the requirements of PPI policy
• Buyer didn’t want to purchase the PPI policy
• Any medical condition or life threatening diseases including cancer, AIDS, etc could make you ineligible for the policy 

How to file the PPI claims

You need to be between the age group of 18- 65, while buying the PPI. If you do not satisfy these criteria, you could file for PPI claim. As now you know that you have been mis sold PPI, you need to submit an application to the bank that sold the contract to you. Also, collect all the documents so that you can file a case against the bank.

If the bank feels that your argument is right, they will pay back the claim money with due respect. However, if bank is not ready to solve the issue, you could take this compliant to the court. You could either file the case on your own or hire a well reputed firm.

Fighting the case yourself can be a daunting and time consuming task. You need to rush from one place to another, every now and then and this might be not possible always. If the claim amount is high, it is better to switch over to a firm.

Tips to select a trustworthy firm to fight your case

There are array of firms which guarantee to claim back your money. From the options, you need to select the best one. You could consider these things-

• You could get in touch with their existing clients. These clients could help you to know about their services better
• Read their testimonials section and customers’ feedback
• Understand their terms and conditions
• It is better to hire an experienced and reputed firm
• Have a look at their rates. You could prefer a firm which works on no win and no fees basis.
• Generally, these companies charge 25% of the money you claimed back. If they charge you more, it is better you move on.
• good companies do not have any hidden fees
• you could go through their history 

It is better to file the case within 6 years you have been mis-sold PPI. Banks will not hold your documents for more than six years.

Author’s Bio: 

James Patrick works with Barclays PPI claims and is also a passionate blogger. You could visit her website to learn more about making missold PPI claims process and hire her services with no upfront fees.