PPI Claim: When Should You File

The consumers are now more concerned regarding the issue of PPI. This is because of the alarming news that consumers who were mis-sold of the PPI who made a claim were rejected. The news from the Birmingham Post reported a decline of one third of the claims that were filed nine months before April 2013. 

Seeing that they have mis-sold the policy and their claims getting rejected, they have seen this issue as unjustifiable. Because of such events, they are led to take another action and this action means taking the complaint to a notch higher. This involves filing a case to the FOS or the Financial Ombudsman Service. Currently, the FOS is already swamped with claims that are yet to be resolved. 

 

There are over 6.9 million mis-sold PPI policies according to experts. These mis-sold PPI has yet to be claimed. There is no doubt, a lot of consumers are taken away of their money that should be rightfully theirs. The issue was even made more alarming of the news that banks have pushed for deadlines in filing a claim. If a customer wants to take what is rightfully his, he should double time in filing for a claim. However, a question often asked by many consumers, are they eligible to make a claim and why you should file a PPI claim now

According to experts, the thing about PPI being mis-sold is because the consumers are not informed that they are already purchasing the policy. Most of their cases were of customers not knowing they have already purchased it. Other cases are also those being sold of the PPI but the policies were not properly explained to them which got them confused. 

If you belong to the people who do not really need the policy or should have been deemed ineligible, contract or seasonal workers, freelancers, you cannot make a policy claim according to experts. However for those consumers who have a comprehensive benefit scheme as part of their work and were sold PPI, they are eligible to file for a PPI claim.

The first thing to do if you discover that you have been mis-sold with the PPI is make sure you have all the paperwork ready. In the case of misplacement or lost papers, you have the option to ask information from the credit reference agencies. If you have already the paperwork intact, you can then proceed to your bank and check for your account if you are one of those people who have been mis-sold of the PPI.

To save you from draining all your energy and precious time in filing a complaint, you can take advantage of the service of a claims company and theirs is no better time to file a claim than today especially that there is news of banks pushing for deadlines.