Anyone, in the UK, who has taken out a loan, credit card or mortgage in the past decade or so, is likely to have been sold PPI. PPI is personal protection insurance, which is designed to ensure that loan, credit card or mortgage repayments continue even if you lost your job or source of income. This is an opportunity for you to get the entire amount that you paid to the bank for payment protection insurance premiums. You can get the refunds in simple way as there are no complications involved and no hassles for the customers. Here are the steps to claim PPI.
First of all, take a good look at your loan papers and see if you are paying for the payment protection insurance or not. Note that the agreement for PPI must be separately mentioned in the agreement and you should be quickly able to find out the insurance in your loan papers. If you have doubts, consult ppi solicitors to know if you are wrongfully sold the ppi or not.
Some signs of wrongly sold PPI are very much evident and you can find them. For instance, if the bank did not make you aware of the payment protection insurance aspects, then you can claim back PPI. If you were self-employed at the time of taking out the insurance, it is clearly a case of PPI scandal and you are eligible for the ppi refunds. If you were retired or approaching retirement age when you took the insurance, you are qualified for the compensation. In case the bank sold you the payment protection insurance by telling that it is compulsory for the loan, the bank was wrong in doing so and you can claim back PPI.
You must immediately approach a solicitor who understands how to claimsPPI . Such an attorney is well versed in every legal aspect of the insurance and he will take your case to the bank. If you took the insurance from Lloyds, youcan easily get back the funds. If you want to know how to claim PPI from Lloyds, then find an experience solicitor and let him take your case.
How far back can you claim PPI?
By far the quickest and simplest way to establish how far back can you claim PPI is to contact a claims agency that specialises in helping people to claim back PPI. One short phone call is usually enough to establish if you qualify to claim back PPI insurance.
If you want them to, these companies can help you to submit a claim. All you need to do is to give them some basic details and they will raise a claim on your behalf. In addition, they will chase up your claim should the company you are claiming from be slow to respond.
Advantages of Using An Agency to understand how far back can you Claim Back PPI
There are many advantages to using an agency to help you understand how far back can you Claim Back PPI. The biggest advantage is that once you have given the claim agency all of your details you can pretty much just wait for your check to arrive. They handle everything. Using an agency makes the whole process of claiming back PPI easy and stress free.
You also have to bear in mind that not every case is straightforward. Claims agencies have expert legal teams on hand who know the rules, regulation and laws inside out. They ensure that your claim is drawn up in such a way to ensure that it is successful and is paid out promptly.