When you realise that you are one of them who have been duped off their money due to the large scale PPI scandal that has taken place in the UK, the first thing that you need to do is to research on it. Make sure you understand what PPI is, how to go about making a claim and what the steps you need to follow are. You should also check all the documents related to the finances well to gather all the important papers relevant to making a claim and verify the PPI claim you would be making.
People generally start with asking themselves how much PPI will I get, and the answer to that can be easily found by knowing the tenure of the line of credit you were mis-sold PPI for and the premium amount. The PPI calculator online can be used as well to get an approximate estimate of the amount
Here are some useful tips to help you make your PPI compensation claim –
Research
It is important to go through all the paperwork for credit cards, loans and more that you might have opened till a few years ago. You should check all the papers to find out if you were sold PPI in some way.
Find Out the Company Responsible
You need to check the company that sold you the PPI. There are times when the buyers think that their lender is a small company, but the truth is that most of these companies are branches of the main banks and you can get larger compensation.
Get it on Paper
You need to make sure that you have all the information you need to make a successful claim. There are many lenders that offer form on their website for people who want to claim PPI compensation. The company will be responsible to respond to your claim within a certain time period.
These are the few tips that would help you get the PPI compensation you rightfully deserve. Following these tips is crucial in ensuring that you do not have to face any issues during the process. The main aim of the process of filing for PPI claim is to ensure that people get their lost money back, but there is a process that needs to be followed and abovementioned tips would help follow that process accurately without any mistakes.