Showing posts with label ppi. Show all posts
Showing posts with label ppi. Show all posts

Sunday, August 18, 2013

All PPI Claim Refund Question The Answer

You victims of miss sold PPI? And if you are looking forward to make an online miss sold PPI claim,you might have some or all of these questions in your mind. Read on to know the answers to such questions answered directly by ppi claim refund companies:


1.How should I make a ppi claim refund?

To make online miss sold PPI claim, you have to fill an application form that contains the information of all those accounts on which claim is being made. You will also need to sign an authority letter and send copies of all PPI related documents to your ppi claim refund advisor.

2.What documents do I need?

It would be great if you send all the documents related to the policy to the ppi claim refund expert. In case you don't have any, your advisor can contact your lender directly and obtain all documents that they require by showing your letter of authority.


3.For what part of the payment can I make a claim?

You can claim for all PPI payments with an additional 8% interest if the PPI policy you were holding has been miss-sold. But for this, you need to be sure that you are taking this action within 3 years the problem came into your knowledge else it may get time barred.


4.The company that sold me PPI is no longer in business. What do I do?

You can make a claim only if your PPI was taken out only after January 14, 2005. In this case, you can make your refund to the Free government back scheme which is also known as FSCS with the help of an expert ppi claim refund.


5.How will I get the redress?

There are several ways to get the redress. You can either get a cheque or it might be deposited directly in your bank account. Under some circumstances, it can also be credited to your credit card account.

6.How long will it take to get ppi claim refund?

Usually all claims are settled within 8 weeks of their submission. But under some circumstances if the claim has to be referred to FOS, it might take anywhere between 3 to 18 months to clear your claim. Remember, a ppi claim refund company cannot help you get the claim back fast.

7.How much will I have to pay to the agent?

Agents charge only when they are successful in getting the claim. Different agents charge on different grounds and thus their fees may vary, but you should be ready to pay around 30% of the entire amount that you get as claim plus a few taxes. If you are lucky, you might even find No Win No Fee ppi claim refund companies.


8.Will an agent guarantee that my claim will be successful?

No one can guarantee a successful claim. If anyone is doing it and asking you to pay for it, he is probably fooling you. A good PPI claim company can only make it easier and less stressful for you.

Thursday, March 28, 2013

Payment Protection Policies Reclaim

It was found that many borrowers have paid for payment protection policies that were mis-sold to them in some way. While the process of reclaiming from major banks like the Royal Bank of Scotland or the Halifax may seem simple, it can become more complex if the company in question has since changed hands. The once popular Egg online banking brand is one such company and while they may have sold their credit card operations and their savings and mortgage accounts it is still possible to enjoy a successful Egg PPI reclaim.

In February 2008 Egg were fined more than £700,000 by the Financial Services Authority stating that they had been guilty of persistently misselling payment insurance policies. It was found that Egg had coerced and used inappropriate sales techniques in a bid to persuade borrowers to take out payment protection policies. They were one of many lenders to have been found guilty of inappropriate sales techniques during a high profile trial and they have had to answer many claims from customers and former customers seeking reclaimed money.

The mis-selling scandal certainly wasn't restricted to Egg. In fact, many high profile lenders were caught up in the PPI case. Billions of pounds has been put aside by lenders as they have to guarantee they will be able to meet claims or face going into default. Egg did continue following this news but the Internet banking boom did eventually become bust, ultimately leading to the sale of the Egg brand.

In March 2011 Barclays Bank announced that they had agreed to purchase the accounts of more than 1 million Egg credit card holders while the Yorkshire Building Society announced that they would be taking over savings and mortgage accounts in July of the same year. This final move represented the end of the Egg banking brand and meant that Citi Group were no longer involved in the daily management of these accounts. Must be payment protection policies reclaim earlier.