This should be the mantra for people who think that they may be entitled to make a PPI claim. It couldn’t be easier, in fact I was browsing a movie website today and twice pop-ups appeared. I did my usual act of deleting them as I am sure most people do. But is this really the wisest course of action?
Mis sold PPI
The term PPI is bandied about by all and sundry, yet few people even know what PPI stands for. A quick straw poll among family and friends showed great ignorance; only one person knew that PPI stands for Payment Protection Insurance. Based on this I am sure that an incalculable number of people are in blissful ignorance of the fact that they may in fact have a legitimate PPI claim especially when you consider that over 20 million PPI have been sold over the last 10 years and as much as £8billion may be owed. Anyone who has been mis-sold PPI is entitled to claim compensation plus the refund of any interest which has been charged.
There are many reasons for PPI being mis-sold to customers with mortgages, credit cards, store cards and other types of finance. This is not really your problem but you may be an innocent victim of this fraud. The financial institutions may not even have informed you of the fact that you are one of the millions in this situation. You may even yet still be paying this monthly on your credit cards or it features as a lump sum in your mortgage statement.
So what should you do? Should you dig out all your paperwork and try to plough your way through reams of information to see whether or not you are affected? Should you get in touch with all the financial agencies you deal with? The answer is resolutely NO. Be assured that you do not even have to work out if you have a claim. There are many reputable agencies out there providing an easy on-line one stop shop. Minimal information is required and certainly no detailed claims and paperwork until it has been confirmed that you have been mis-sold PPI and have a legitimate claim for compensation. The beauty of it is these agencies are working on a no win no fee [Cancellation charges may apply only if the claim is cancelled after the 14 days cooling off period. The fee would be based on the work done at the time of cancelling at a rate of £120 per hour and up to a maximum total of £180] basis so you will not find yourself out of pocket.
So what are you waiting for, if you think you may have a case – just ask – you never know.