Claiming PPI Refunds
May 24, 2011
While a good many UK consumers know that they have been mis-sold PPI policies they are unsure how to go about claiming those PPI refunds. Unfortunately, the first step they take is to go to the lender who sold them the insurance in the first place. While that may be a good place to start in a perfect world, the reality is that lenders are only approving 40% of claims that come across their desks. This leaves 60% of all Brits with no recourse but to begin the time consuming process of filing through the Financial Ombudsman Service in appeal. Claiming back bank charges can be much easier to accomplish when consulting with a PPI claims company from the onset.
Since there are a number of these companies floating around, there are a few things to understand up front. Some companies charge in the beginning while others only charge if they can win the case for their clients. By checking online to see what the fees are it is possible to find a PPI claims company that will only charge a fee once they have won back the money overpaid in mis-sold Payment Protection Insurance claims. From filing the claim to appealing through the FOS, everything is handled by the PPI claims service which leaves consumers free to go about their daily lives without this additional stress.