PPI Reclaims Made Simple
If you were mis-sold Payment Protection Insurance (PPI) when you took out your loan, mortgage, credit card, car finance… infact any type of credit… then you ARE entitled to a full PPI reclaim from bank or lender that sold it to you.
Reclaiming your mis sold ppi is simple if you choose to use a PPI Claims Company, such as ourselves, because we take care or all the paperwork, while you get on with your daily routine. It’s simple, all you need to do is fill in our quick and easy form and wait for one of our fully trained ppi claims specialists to call you back. We’ll then explain the claims process to you and send out all the required paperwork to get your ppi claim started. All you have to do is sign the paperwork and send it back to us and we’ll take care of the rest. Alternatively, you can call us now on 0845 475 0505 to discuss your ppi claim.
Can You Reclaim PPI Yourself?
The simple answer is… YES, you can… and it is absolutely free for you to do so. However, 80% of people choose to use PPI claims companies because most people do not have the time, energy, or patience to calculate the amount of ppi compensation due… then negotiate an acceptable settlement with their banks or lenders – all of which can be extremely time consuming and stressful.
If you choose to reclaim your mis sold ppi premiums yourself, there’s a ton of information out there from free ppi claims letter templates to online ppi calculators and advice on how to start your ppi reclaim on various forums and consumer websites. However, we’d advise that you do your research and before taking any action.
What is The Average PPI Reclaim Amount?
Official figures vary from £2,500 to £3,750 per claim but every case is unique and if you had a lump sum added onto your loan at the start of your loan (Single Premium Policy), your ppi refund amount will depend on:
- The amount borrowed
- The interest rate
- The term of the loan/credit
Calculating the value of a ppi refund on a credit card or on a Monthly PPI Premium Policy is a lot more complicated. For more information, contact our friendly ppi claims team who are ready to help you to claim back your money.
Are There Any Deadlines for Reclaiming PPI?
As it stands, there are no deadlines for when you must submit your PPI reclaim. However, there is such a thing as a Statute of Limitations, which implies that you must submit your claim within 6 years from the date on which the cause of action accrued. Which basically means that you should submit your claim within 6 years from the date on which you became aware the you were entitled to claim back ppi.
Until we here otherwise, we’ll assume that the 6 years started on the 9th May 2011 – the day on which the banks gave up their fight against the FOS in the PPI Judicial Review.