PPI claims: Top 3 tips to keep in mind

Read on and increase your chances of getting your PPI claim approved.

10:37 09 July 2013

Several people who were mis-sold PPI before may now be having a hard time getting a refund. If you’re one of them, you might need to know important tips listed below. These could help you improve your chances of getting your claim approved.

Tip # 1 If you don’t have the needed paperwork that will show you were charged for PPI, request a copy off the lender in writing. Under the Consumer Credit Act you are entitled to do this.

You just have to pay a very small charge when you make a request. Getting this paperwork is the first step to prove that you were indeed mis-sold PPI and it’s one of the documents needed to process your claim.

Tip # 2 If the bank or the financial institution rejected your claim, don’t give up. Instead, make a claim to the Financial Ombudsman.

Tip # 3 If the lender is already out of business, check if it was regulated by FCA or FSA. If it is, you can make a claim to the Financial Services Compensation Scheme. This is an insurance company that covers the liabilities of finance companies.