How Do You Know If Your Bank Owes You PPI Refunds?

January 17, 2018
by admin in PPI News

Payment protection insurance has reached £40 billion in 2016. Banks may blame it on administrative costs caused by firms investigating consumer complaints. While the blame certainly rest with the financial sector’s lack of responsibility to inform consumers possibly mis-sold PPI, PPI claims is to end on August 29, 2019.

If you think you might be owed money, then you can do the following to claim receive your refunds.

How Were You Mis-Sold?

Bank employees could have informed you that the insurance policy was a requirement to go with your financing application. Worse, they could have told you the financing helped speed up the approval of your financing. Both cases are grounds for mis-selling because specific insurance policies provided by a single provider do not suit all consumers.

Credit Score

If you inquire about your credit score, your credit reviewer will provide you all the activities involving your financing. This includes the insurance policy payments you might have made. If you believe you weren’t informed you had this particular insurance policy, then you have grounds to make a claim against your bank.

Claims Management Companies

If you lack the time to create your own claim, then you might need the help of claims management companies. They can make a claim on your behalf and an inquiry for free. You only pay them as soon as they provide you your complete refunds.