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The PPI Claims Process

THE PPI CLAIMS PROCESS AND HOW TO MAKE A REFUND CLAIM HAVE YOU HAD A LOAN, MORTGAGE, CREDIT CARD, CAR FINANCE OR ANY TYPE OF BORROWING? C YES NO WAS IT ACTIVE IN THE LAST 6 YEARS? YOU PROBABLY DON'T HAVE PPI AS YOU'VE NOT HAD A BORROWING TO PROTECT. YES NO DO YOU HAVE THE AGREEMENT AND ORIGINAL DOCUMENTS? DO YOU HAVE THE LOAN AGREEMENT OR CREDIT CARD NUMBER? NO YES YES NO LENDER PROVIDER SMALL PRINT POLICY PROVIDER YOU'LL NEED TO REQUEST CHECK THE SMALLPRINT BANKS DON'T HAVE TO KEEP YOUR PAPERWORK FROM THE RECORDS AFTER 6 YEARS, FOR PPI OR ASU LENDER/POLICY PROVIDER. CALL AND ASK THEM TO SEND IS IT THERE? SAY IT'S FOR YOUR RECORDS, THE ACCOUNT NUMBER TO DON'T MENTION PPI CLAIMS. YOU IN WRITING ALONG WITH CONFIRMATION OF WHETHER THERE WAS PPI OR NOT. YES NO YOU SHOULD MAKE A CLAIM. YOU MAY STILL HAVE MIS SOLD PPI YOUR POLICY MAY HAVE BEEN MIS PPI WAS OFTEN SOLD AFTER THE POINT SOLD TO YOU. OF CREDIT AGREEMENT. HOW TO START YOUR CLAIM GET THE FORMS AND GO IT ALONE LET A CLAIMS COMPANY HANDLE IT ALL MAKE SURE THEY'RE NO WIN NO FEE GIVE THEM YOUR ACCOUNT NUMBER, SIGN A FEW FORMS AND SIT BACK. EXPECT TO PAY 25% + VAT OF ANY REFUND. STEP 1 DOWNLOAD A FINANCIAL OMBUDSMAN (FOS) QUESTIONNAIRE FROM WWW.FINANCIAL-OMBUDSMAN.ORG.UK AND FILL IT OUT IN FULL. LETTER OF COMPLAINT STEP 2 WRITE A LETTER OF COMPLAINT STATING THAT YOU BELIEVE YOU'VE BEEN MIS SOLD PPI, WHICH IS A BREACH OF REGULATIONS AND YOU WANT TO MAKE A COMPLAINT. STEP 2 POST YOUR LETTER OF COMPLAINT AND THE FOS QUESTIONNAIRE TO YOUR LENDER. YOUR LENDER HAS 8 WEEKS TO RESPOND. THEY WILL RESPOND IN ONE OF THREE WAYS... 1 THEY MAKE THEY DECLINE THEY SAY THERE'S YOU AN OFFER THE REFUND AN ISSUE WITH THE COMPLAINT 手 ITS THE RIGHT INCORRECT DETAILS MAY HAVE IT SEEMS LOW REFER YOUR COMPLAINT BEEN SUBMITTED TO THE FOS AND WRITE BACK AND ASK THEM TO JUSTIFY THE LOW OFFER. REMEMBER: YOU'VE AMOUN l ONLY GOT 6 MONTHS FROM THE FIRST АССЕРТ П AND OFFER TO APPEAL TO THE LENDER AND RE-SUBMIT YOUR COMPLAINT WITH APPEAL THE DECISION - RECEIVE A REFUND THE FOS BUT YOU HAVE TO GO BACK TO THE DETAILS THEY WANT - THEY HAVE WITHIN 28 DAYS. YOUR LENDER FIRST. 6 MONTH DEADLINE ANOTHER 8 WEEKS. YOUR PPI CLAIM APPLIES. IS OVER 2ND OFFER 2ND OFFER IS FOR FULL AMOUNT IS STILL LOW REFER COMPLAINT TO THE FOS ACCEPT IT AND RECEVE A REFUND WITHIN 28 DAYS. YOUR PPI CLAIM IS OVER STEP 3 AROUND 80% OF MIS SOLD PPI CLAIMS ARE 80% REJECTED BY LENDERS, BUT DONT GIVE UP GET ALL OF YOUR COMPLAINT PAPERWORK TOGETHER AND REFER YOUR CLAIM TO THE FOS THE FOS CURRENTLY HAS A 12-18 MONTH TURNAROUND ON PPI COMPLAINTS, THEY WILL RESPOND IN ONE OF TWO WAYS... 1 2 REJECT YOUR COMPLAINT To Subject A SEND UPHOLD YOUR COMPLAINT AND INSTRUCT THE LENDER THIS INITIAL RULING WILL BE MADE BY AN ASSESSOR NOT AN OMBUDSMAN, AS A RESULT TO MAKE YOU AN OFFER YOU CAN APPEAL IT. CONGRATULATIONS, YOU'VE WON A REFUND WHICH SHOULD BE ISSUED WITHIN 28 DAYS. YOUR PPI CLAIM IS OVER. APPEAL THE DECISION AND AN OMBUDSMAN WILL MAKE A FINAL RULING AN OMBUDSMAN UPHOLDS YOUR COMPLAINT. CONGRATULATIONS, YOU'VE WONA REFUND WHICH SHOULD BE ISSUED WITHIN 28 DAYS. AN OMBUDSMAN REJECTS YOUR COMPLAINT. THAT'S IT - YOU WERENT MIS SOLD PPL AND ARE NOT OWED A REFUND. THAT'S IT, YOUR CLAIM IS OVER. REMEMBER - THIS IS JUST ONE PPI COMPLAINT AGAINST ONE POLICY AND YOU MAY HAVE MULTIPLE MIS SOLD POLICIES. TRY AND RECALL ALL THE LOANS, CREDIT CARDS AND OTHER BORROWINGS YOU'VE HAD AND REPEAT THE PROCESS. IF YOU CHOOSE TO GO IT ALONE. MAKE SURE YOU KNOW HOW MUCH YOUVE PAID INTO YOUR PPI POLICY AND DONT SETTLE FOR ANYTHING LESS THAN A FULL REFUND. YOUR LENDER MAY OFFER YOU AN ESTIMATED REFUND, PARTIAL REFUND OR UPHOLD YOUR COMPLAINT IN PART – DON'T STAND FOR IT AND BE PATIENT, YOU'RE OWED ALL OF YOUR MONEY BACK. GOOD LUCK. / ALL HIDDEN POLICIES FOUND / FREE REFUND CALCULATION / OVER £30MILLION REFUNDED SO FAR Cracle legal FOR HELP WITH YOUR CLAIM OR TO START YOUR REFUND, CALL FREE ON 0800 840 7292

The PPI Claims Process

shared by jpgreg on Jan 12
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This infographic breaks down the process a PPI claim goes through from start to finish. It also shows you how to claim, either through a company or on your own. Thanks for looking!

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John Gregory

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