PPI Claims

Who can claim for a PPI refund?

The latest information reported by the financial service authority is that banks have paid out $ 1.9 billion as a compensation for the mis-selling of the PPI policies. Many people might have sold these payment protection insurance policies without even having knowledge that it has been attached along with their credit card dealings or any loan agreements.

In the case of credit card these policies can be easily pointed out if the monthly statements are checked but in the case of loan or mortgages it cannot be easily found out. Any PPI reclaim can be successful only under certain circumstances like when the PPI policy is attached under any compulsion or without the knowledge of the customer, or if the age limits has been crossed, if the pre-existing medical conditions of the customer were not discussed, or if the customer is a self-employed or unemployed during the time of taking the insurance policy.

When a PPI claim is successful you are paid with the total premium along with the interests at applicable rates. You can process these claims by contacting the lender through which the PPI policies get attached stating them that you are willing to get a PPI refund and the valid reason for that. In case if the obligation fails then instead of approaching the lenders it is better to contact an ombudsman who will make the case little easier. But however, it will take a long time for the process of the PPI refund when approached through ombudsman wherein the similar case can be easily done when approached through a claims management company. A PPI claim company is the one which works professionally to get you the PPI refund.

These companies will take care of the PPI refund whether it is properly provided or not. For more information, visit www.ppiclaimscompany.co