PPI Reclaim Company

Complexities involved in a PPI reclaim

Reclaiming PPI are not more difficult in case if the bank has added the PPI policies to the customer without his knowledge or if the PPI policies are mis-sold to you which were inappropriate to your needs. Mis-sold properties go to say that the PPI policies are made compulsory to the customers or attached without the prior permission of the customers. In these cases the customer has full rights for the PPI reclaim.

In such cases he can claim the refund either individually or through any PPI reclaim company. Whereas, if the PPI policies were sold out in a proper manner it would have met all the regulatory guidelines checking the eligibility of the buyer and the buyer would have been informed or explained about the PPI policies before they could proceed further.

In the cases of a PPI claim when the PPI policies are mis-sold the bank cannot be relied upon in every case and the customer have to meet the ombudsman within a period of 6 months from the rejection of claim if any denied by the bank. However, ombudsman will take several months to process your claims unless or until he is intimated about your financial hardship about the money refunded. He must be informed about this early since he may process quickly on such cases.

If the case could not be succeeded with ombudsman then it becomes very hard for a reclaim whereas even when a case gets succeeded you must be ready to wait until you get the reclaim from the bank. But you can question the bank in each stage or you can also contact the ombudsman if you feel the bank is not treating well. Thus, the financial regulator FSA has launched new rules since 2010 regarding these claim issues. For more information visit, www.ppiclaimscompany.co