PPI Claims: Three Difficulties You Can Encounter

June 21, 2017
by admin in PPI News

Bank employees indiscriminately mis-sold PPI to ineligible consumers, which is almost half the UK’s consumer population. As the deadline looms closer by 2019, consumers are likely to pile up in the banks’ call centres and the Financial Ombudsman in addressing their complaints. Here are three difficulties they could likely encounter.

Delayed Bank Decisions

Banks could either indiscriminately reject complaints without proper investigation or hold the PPI refund decision further than three months. Banks are disallowed to do either of these, but concerning yourself with bank violations rather than getting your refund can be disheartening.

Returning To File Your Complaint

It takes time to collect all your information, inform your bank about your possible mis-sold PPI and walk your entire claim against your bank. To do this again after an unjust rejection would take time and resources. Do not be discouraged; continue to file your complaints or forward your complaint to the Financial Ombudsman.

Collecting All Your Data

For £10, you could ask banks through a data access request for all your transactions regarding your financing and the insurance products attached to it. This is helpful should it be the case your financial documentation is incorrect or lacking. Claims management companies could also do this on your behalf and your entire claim on a no win no fee basis.