If you are one of the many unfortunate people to be mis-sold PPI when you applied for a loan or mortgage, then you are entitled to full PPI compensation for all the money you paid to your lender. Although you are legally entitled to a refund, it’s not easy to get the money back. If you thought getting a refund from the chemist was difficult, imagine trying to get a significant amount back from a bank! If you have been mis-sold PPI and need to reclaim PPI, there are steps that you will need to take before you can get the money owed to you.
Check to See If You Are Entitled to PPI Compensation
Before you rush to submit your PPI claim, you have to make sure you are one of the people who actually deserve PPI compensation. The first step is to make sure you were sold and were paying for PPI on a loan. After that you need to try and remember if you legitimately purchased PPI because it applied to you, or if PPI was forced on you by a pushy salesman. If you were forced into buying PPI against your will or weren’t aware you were paying for PPI then you can start your PPI claims.
Get Together All the Necessary Paperwork
In order to receive PPI compensation you will need to get together any paperwork that the lender may require to approve your request. This includes your monthly payments statements, your initial loan contract, receipts or any other relevant paperwork that shows you were paying for PPI.
Using a Professional Service Saves You Time
There are professional services out there that have experience and the time necessary to get claim back PPI on behalf of individuals. Using one of these services is a great way to get the full amount owed to you without having to deal with the lender yourself, something that can take a lot of time and effort. If you want to get your PPI compensation but don’t want to spend the time it requires, then consider using a professional.
Now that you know the steps that need to be taken to receive full PPI compensation you can begin to try and get your refund. If you don’t have the time or energy to go through this ordeal, but still want to get your PPI refunds, then your best bet is to use a professional service.