5 Typical Concerns When Producing PPI Claims

PPI (otherwise known as Payment Protection Insurance) has been mis offered to millions of people throughout the UK who are often unaware that they could be entitled to declare back thousands. Below are the five most common concerns people have when deciding whether or not to make PPI claims.

1. How do I know if I have been mis offered PPI?

Many people are unaware they have been mis offered PPI and could have more than one PPI policy. A PPI claims management organization could help you to find additional PPI policies you were not aware of, meaning you may get a larger refund, whilst taking the trouble out of making a claim.

2. Is there a time limit for making PPI claims?

A general time limit for making PPI claims is six years. However if you have kept the documentation for your PPI policy it may be possible to declare on a policy taken out more than six years ago. If you have misplaced your loan documents a claims organization can request them from the lender on your behalf.

3. How much compensation am I entitled to?

The amount of PPI compensation someone is entitled to varies from each individual case. The Citizens Advice Bureau reports that PPI can add between 13% and 56% to loan repayments which could add up to thousands of pounds. If your claim is successful you are entitled to all of the money you have paid to date plus additional interest. If your loan is still ongoing your monthly repayments will also be reduced by the amount you are paying for your PPI policy. If your loan has already been repaid you will obtain all your PPI compensation in money.

4. How long can it take to get a PPI refund?

There is no set period on how long it will take to get a PPI refund. Some PPI claims could be resolved in a couple weeks others take much longer with respect to the character and intricacy of the claim. What lots of people don't realize is that some lenders are usually faster at running grievances than others.

5. What is the advantage of a PPI Claims company?

Many people are often unaware they have been mis offered PPI and might have numerous policies where a PPI refund is credited. A educated claims handler will get each one of these PPI policies to guarantee the optimum payment is obtained. A claims organization can provide professional guidance taking the trouble out of creating all PPI claims.

When choosing a claims organization to use bear in mind that a great claims organization will:

- Never cost an upfront payment

- Focus on a no earn no payment foundation

- Make all fees obvious from the beginning and have no hidden fees

- Be governed by the Ministry of Justice

- Have educated experts employed by them

- Never make fake guarantees regarding assured repayments and period structures

In inclusion you should see if you will be charged a charge for the money you will conserve in the future as many organizations includes this in their terms and conditions. For more info on this subject visit this link!