On June 2019, the Financial Conduct Authority itself will authorise all banks to cease processing any PPI claim from any consumer whether valid or otherwise counterfeit.
The date, originally set for the spring of 2018, would become the biggest culmination of PPI complaints in history. While the date is still far off and the FCA plans an advertising campaign to make aware to consumers their right to make a PPI claim, the claims process has yet to be simplified.
Up to today, the PPI claims process is still these three steps.
Grab All Your Documents
Just like in any old-fashioned litigation, showing evidence that you were mis-sold payment protection insurance through documents is the game.
Anything that pertains to your insurance such as billing statements, notices, receipts and your original terms and conditions can help you get back your refunds instantly.
If you were retired, sick or in an accident or unemployed during the time you purchased PPI through pressure from a bank employee, indicate any medical certificate, honourable termination or self-employment certificate or validation that you may have.
Dealing With The Bank
Banks will always reject 9 out of 10 complaints so be ready if you may need to jump to the Financial Ombudsman Service to process your complaint.
Call your bank and claim that you were mis-sold PPI. Remember your policy number and the premiums you are paying. If the bank does not acknowledge that you have a valid mis-sold PPI complaint, hang up the phone.
If you have certain information that banks prohibit themselves to access because of their six-year documentation rule, you could subject them to a data access request for an average cost of £10.
FOS and Other Options
If the bank rejects your complaint, present your evidence and other information through the Financial Ombudsman. Grab a PPI claim form and make sure to fill it out properly.
If you do not have time to wait for your refunds or time to invest in making your complaint again, you could call on professional management services for mis-sold PPI that work under a no win no fee basis.