A customer with a mis sold PPI actually worth £2,750 lost to their banks. Imagine if you have multiple mis sold PPI on multiple financing, that is going to really be a big problem. Making a PPI claim is actually easy, but you’ll need to take note of the following.
1. Proof of Purchase
Most banks reject claims that don’t have any proof that the customer purchased the insurance from their bank. Be sure to keep at least one receipt that has the address of the bank as well as an official receipt number to enable them to check into their records that you have purchased the insurance.
2. Knowing More About the Mis Selling
In proving that you were mis sold the insurance policy, knowing how your financial adviser has mis sold you the insurance is one thing. The Financial Services Authority may prove that around 75% of most claims state that customers purchased the insurance on account of their financial adviser’s statement, but you need to know why or how.
3. Proving That You’re Mis Sold
If through advice, personal statement or urging from your financial adviser that you purchased the PPI, you need to prove through evidence that you were mis sold. A medical record dating a few days before signing up for the insurance or your birthdate and last employment date could help prove that you were already unemployed, self-employed, retired or already having a pre-existing medical condition proves that you’re mis sold PPI.
4. Help from a Claims Management Company
A claims management company, such as PPI Claim Co can help you understand more about claiming. Again, if you have multiple claims, these are certainly the people you can ask help from. They can also work on your claim under a no win no fee basis.