Without A Claims Company Taking A Ridiculously High Fee
If you have been keeping you eye on the latest PPI news then you’re probably aware of the various claims companies out there that are trying to get their hands on a percentage of the money that is owed to you from mis-sold PPI. Now it may be the case that you don’t mind not getting the full amount owed back, and would rather pay their fees just for the convenience of being able to sit back and watch the money come in, this is absolutely fine! however for the rest of you that are reading this then hopefully you will gain something as we look in to an outline of how you can actually make the claim yourself. The only thing you will need if you are planning on doing it the D.I.Y method is a fair bit of free time to commit to going through the process thoroughly and having said that it really isn’t that long.
Do Your Research, Use A Calculator
As far as we are concerned before wasting any time writing letters or finding out how to speak to the first thing you should be doing is using a PPI calculator to estimate how much you could potentially be owed. This won’t take long at all and will give you all the info you might need to make an educated decision as to whether it is worth it or not to make a claim. You may find that you are owed such a small amount it really isn’t worth taking the time to claim for and you would rather spend your time doing something you actually enjoy! However for the majority of people, hopefully you will learn that you have a decent amount of money owed to you and therefore spending some time on this annoying thing called payment protection insurance could actually pay for that new sofa or a holiday.
Find Out Who To Contact
Each bank or lender will have a different method that you need to follow to ensure your claim gets to the right person or department so the next step is visiting your bank’s website and locating the PPI section, we have covered both Halifax and Barclays however you may need to do a bit more research on your specific bank. Make note of the address listed here as we will come back to it in the future.
Write A Letter of Complaint
Following the outline set on our template letter page you now need to write a letter of complaint to the address located previously, being sure to fill in the appropriate details as making sure you have a valid reason for the PPI being mis-sold is key to ensuring a successful claim.
Sit Back And Wait
Now you are simply left to wait for a response, beware this can take several weeks even months as i’m sure you can appreciate the banks are having hundreds if not thousands of claims to process at the moment. With a bit of luck you will get a nice little letter in the post stating how much you can expect to have returned to your bank account and everything is sorted. If however you find your claim has been refused then there is one final measure you can take, contact the financial ombudsman, here you can raise a complaint about how the bank has dealt with you and make a further case as to why you are entitled to the money. In most cases if you get as far as the financial ombudsman getting involved then your case will eventually get resolved (unless of course you really don’t have a valid case).