But any claims company that retrieves your PPI refund will take a commission fee of up to 30%, so if you’re keen to keep all of refund, then how would you go about pressing on alone? Here are a few steps:
1) It might seem a great deal easier to have the companies handle your claim for you, but these services are impersonal and they charge a fee. So steer clear and don’t be tempted.
2) Scour your paper work very carefully, if you feel you have a genuine claim, then you will need proof and it will be buried within the paper work somewhere. The term Payment Protection Insurance, may be under the guise of ‘loan protection’ or ‘loan care’. But should you be one of the ones who were unaware of the product issued to you in the first place, then fear not, the lender will have all of your details on file.
3) Contact your lender, by phone or in writing. Outline your concerns, list the product you purchased, the date and explain why you feel as if you were mistreated and the product was mis-sold.
4) Once you’ve contacted your lender, the response will come back within eight weeks, outlining if you’ve been successful or not.
5) Should you be unhappy with the result, then you can always contact the Financial Ombudsman Service. The service provides you with independent advice and can ascertain whether your claim can be taken further, or you have been unsuccessful.