Know how to deal with claiming PPI which his miss-sold to you
Insurance is a huge help to the person in terms of saving money for the future and also for any expense that comes all of a sudden. The medical insurance helps to pay our medical bills in case of emergency and vehicle insurance to claim insurance for our vehicles if our vehicle met with accident. The life insurance is the insurance amount paid to the family when the bread winner or the person on whom the amount is insured is deceased or becomes unable to earn income. But the payment protection insurance which is reportedly an insurance which is sold to the person when he or she borrows loan from the bank or finance company or gets credit card. In such cases some borrowers even don’t know that payment protection insurance PPI is included along with their credit card or the loan amount. People raise question that can i claim back ppi.
Why they should claim back PPI?
Every borrower who paid PPI to the lender for their credit card and loan amount or for any amount borrowed should claim the PPI if they have repaid all the credits completely. Actually the PPI is a type of payment protection which is used to compensate the amount if the borrower fails to pay the credit or borrowed amount. But in the most cases the PPI amount is not refunded even if the person has no credits or outstanding bills to be paid. There are many complaints from a lot of people that they could not claim the PPI. It is a huge loss for them since they have paid a whole lot of money which is no use for them now.
How to claim it?
They have paid for no use and they are in need of assistance that can guide them to claim back the amount completely. To get helped with claiming PPI you have to use claim management service that will help you to find whether you have PPI on your policy, loan and credit card. This is the first step and if it is found to be true then we can proceed further to claim the amount. Most of the claim management services guide you through the process but they don’t contact the borrower for you. They will walk with you throughout the process through which you will be able to apply for the claims without hassles.
There are many people who are fed up with claiming PPI from the borrowers and the question is why they can’t get back the amount which they paid. The fact is that the lender should pay the PPI amount when the borrower has paid all the credits completely but the lenders disappoint the borrowers that they don’t refund the PPI in most cases.
So the claim management service will check for your PPI and let you know the amount you have on PPI. Then you have to fill the application form to claim it back with proper procedure because there are a court order that all the banks should refund the amount which they gained from the borrower through PPI.