The Process for Reclaiming PPI
We start by working out the facts…
After we get your authority to act on your behalf we request all the relevant paperwork associated with your policy. If you do not have these documents yourself (this is usually the case) don’t worry, we can request this from the company who sold your the policy.
If our partner solicitors decide you’ve a reasonable chance of a successful reclaim, on a No-Win, No Fee basis, we will advise that we make an application on your behalf.
Right, all looks good. Let’s get the claim started…
Our experienced staff will then make a realistic calculation of how much you should claim for. This can be part or all of the money you’ve paid out. Interest may be added on top of this. We will advise you of this amount and let you know why we have come to this figure. Sometimes an offer will be made to settle your case from the lender so we will negotiate on your behalf and advise you on what is an acceptable amount.
Our partner solicitors will make a formal reclaim application, and chase the matter in the case of no response.
We get the Financial Ombudsman involved if absolutely neccessary…
If needed, the case can be taken to the Financial Ombudsman. This is the government backed service for disputes between consumers and businesses providing financial services, without the need to go to court. The Financial Ombudsman played a huge role in the ongoing bank charges saga and is now becoming an increasing influence in mis-sold PPI cases also.
Last stop, court action…
If we are still unsuccessful, but are convinced you have a case, we will take it to court, attending if necessary on your behalf. We can also arrange for a barrister to be involved in the claim, and the barrister will also help you on a no win, no fee basis.
If the court ruling is in your favour, but payment is not forth coming, we’ll arrange for bailiffs to enforce payment if necessary.
Now for the best part, you get your money!
We have examples of the cases where the the process has taken as little as 5 days. If court action is needed, or the claim goes to the Financial Ombudsman Service, it can take up to 12 months.
If you know of anyone else who may have been the victim of a Mis-sold PPI policy, feel free to send this page to a friend or share it with your friends on your social networks by clicking one of the icons below. To start your claim today visit our Reclaim PPI Form.