Best way to claim PPI compensation

Looking for the best way to claim PPI compensation? Then, use this article as a guide.

10:01 26 June 2013

So, you were one of those people who were mis-sold PPI and now you want to get refund fast. Here’s what you need to do to make that happen:

 

• First step is to talk to your bank. Start by filing your claim with the bank that mis-sold you the policy. When doing this, it’s important that you present all the necessary documents as this can speed up the whole process..

 

• If your claim was denied by the bank or the lending institution, you can go ahead and seek for the help of the Financial Ombudsman. Keep in mind that you do not have to pay to get their assistance. The type of services that they can give to you ranges from getting the information you need, carrying out research, and filing compensation claims on your behalf.

 

• Use claims company. If you’re very busy and if you cannot personally file your claim, you can hire companies who can do this for you. Many of them offer a no-claim, no-fee policy. However, they could get say 30per cent of your refund.