If you have taken out a loan or a credit card within the last couple of years then you will probably have heard of payment protection insurance. Sadly, millions of people every year are wrongly sold payment protection insurance. When this happens, you are entitled to claim for compensation. Luckily, you may be able to get compensation as well as interest on a wrongly sold policy. Unfortunately, some people do not know where to start when it comes to claiming compensation. There are two ways of doing this, but one is more favourable than the other.
Before putting in a claim you need to find out if you have been wrongly sold a policy or not. If you do want your money back then you have to have proof that the policy that you purchased was not right for you. There are a few things that could indicate that you have. One thing that you need to think about is whether or not the policy that you purchased was explained to you fully. It is not uncommon for ppi to be sold without it being explained in the slightest. Another thing that happens very often is the wrong policies being sold to the wrong people. There are many other things that could mean that you have been mis sold ppi, these are just two things that could have happened to you.
As mentioned earlier, there are two things that you can do if you have reason to think that you have been mis sold a payment protection insurance policy. One option available to you is to take on the company who sold you the policy and try to get compensation yourself. It could be hard to prove that you have been wrongly sold a policy and it can often take a long time. The other option that you have is to contact a claims company. The good thing about these companies is that they take the whole headache of reclaiming ppi away from you. The majority of companies in this field will no charge you a fee up front so if they don’t win, you don’t pay.
Simplicity Claims deals with these payment protection insurance claims for its customers and doesn’t charge a fee unless they successfully win the case on your behalf. So really, there’s nothing to lose financially by applying through their ppi claims website and seeing if you qualify to get your money back.