Payment Protection Insurance Reclaim
Eligibility for Payment Protection Insurance Reclaim Benefits
In order to be eligible for payment protection insurance reclaim benefits it must be first substantiated that you have been mis-sold PPI cover. Although there are different reasons in which people claim they have been mis-sold PPI cover it doesn't really matter which rule the lender broke it only matters that rules were broken. You cannot file for payment protection insurance reclaim benefits if you were not mis-sold PPI. This is one of the most common misconceptions which consumers have. You cannot reclaim something that doesn't rightfully belong to you but you can file for payment protection insurance reclaim benefits if that money should have never been taken from you in the first place. Only consumers who have a valid payment protection claim can hope to get a refund from the lender that mis-sold them PPI.
What Is the Payment Protection Insurance Reclaim Procedure?
If you are sure that you have been mis-sold payment protection insurance then you are eligible to file a claim for refund. As mentioned above, the payment protection insurance reclaim procedure varies from lender to lender but it always begins by filing a claim for refund from the lender who sold the policy to you. According to rules established by the UK government lenders need to refund the money that you have spent on payment protection insurance if they mis-sold that cover to you. If a lender refuses to review the claim you have submitted you can file an appeal with the Financial Ombudsman Service. Unfortunately the payment protection insurance reclaim procedure is often so involved that many people simply give up and this is what many lenders are hoping for. What you can do is contract with a professional PPI claims company to both file your claim and file an appeal of necessary so that all of the worry is taken off your shoulders.
If you are thinking of contracting with a PPI claims company make sure to find one that is registered with the Ministry of Justice since all of their claims activities will be monitored by that agency. Unless you know that you are dealing with a legitimate organization you could be letting yourself in for more problems than you already have. But PPI Claim Company is registered with the Ministry of Justice and has helped thousands of UK consumers file successfully for PPI refunds. You can speak with them on 0207 471 2000
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