There are numerous claims pending which belongs to you and you are not aware of that. You might be a victim of hidden PPI. The best way to claim what is yours is through the PPI Claims. There are thousands of people who are daily mis-sold the payment protection insurance, called PPI in general. You can claim what is yours, if you feel you have a strong case. There are people who write to Financial Ombudsman to start the claim process. But if you feel you are competent enough, then you can just do it on your own. All you need to do is download the claims form, fill all the information you might need to process the claim. But before that you might need a PPI Calculator to calculate how much you owe.
Eligibility for the Claim
It is very evident that filing for a claim is a very tiresome and time consuming process. But once you have set out to do so, then there is no looking back. Today there is no limit or statute for filing a claim. You can file the claim against any company who are insolvent. Firstly, check if you are paying for a claim which at first place you never wanted? If yes, then stop paying for all these mortgages, credit and debit card bills. If someone has pressured you to buy a claim, you are liable for a claim then also. If they were cheated by saying that they could not cancel their policy for a loan, then also you can claim. You are ineligible for coverage if you are unemployed, student or self-employed. The people who sell these PPI coverage charges and claims often tell you misleading terms and conditions and get your approval on the documents. And if you were denied coverage for your expenses in certain criteria like illness, losing your job or meeting with an accident, you are eligible again for a claim.
How to check what Information you Possess?
There are varied policies which cover the several conditions on the claims, but if you are eligible you are liable to get a claim.
There should be a check of certain documents in order for filing a claim. There are financial institutions which are there to help you, but at a price. The Consumer Credit Act requires them to produce the documents on your behalf.
You can Hire a Claims Company
There are many financial institutions that process a claim on your behalf. Because as the statistics comply, there are only few people who have used PPI Calculator and filed their case have actually got a refund. By hiring these companies, you can save yourself from all the effort of huge paperwork. There are many companies which even work on the policy of no-win no-fee. If they lose your claim, they don’t charge you a single dime. But there are certain companies who charge a standard fee irrespective of your claim outcome status.
What if the Claim is Rejected?
If in any case your claim is rejected, then you can always follow the process FOS outlines in order to get a claim. It happens many a times that the bank rejects a claim, but people can re-apply in courts if they have strong documents to prove their side. There are many such instances where the bank first rejected the claims and then after getting a letter from the courts, revisit the claim and offer compensation. If still you don’t get any letter, you can challenge the legal bodies by some FSA rules and make a claim.