Payment Protection Insurance (PPI) is very useful. However, it should not be mis-sold. The premium towards PPI should not be deducted from you without your notice. If you were mis-sold, you have every right to make the claim. In this context, the information will be presented on the Financial Ombudsman (FOS). The application can be downloaded from the website. You can use highly sophisticated PPI calculator so that the calculations are done correctly and the claims can be made efficiently.
The procedure to make the claim
In order to make a claim, you should want to go through the claims procedure. There are different cases which make you prompt to go to the claims. If you are paying for PPI without your knowledge, you can claim. PPI Calculator – http://www.freeppicalculator.co.uk offers useful information in this direction. The other conditions which make you claim include ineligibility for coverage, coerced into coverage, misleading terms and denied coverage.
It is very much information that you should have enough information to make the claim. The agreement number and the amount should be filled in the form. If you lost the agreement, you should call the lender or the bank so that you will be able to fill the information without fail. In some cases, it will be difficult to understand the terms and conditions present in the agreement. In such cases, you can take help as per the consumer credit act. The information will be provided at your request at £1. Your credit information will be maintained for at least six years. Hence, the claim can be submitted when it falls within the stipulated period. It is possible to claim beyond six years as well. However, the records might not be available.
Getting help to make the claim
In order to make the claim, you should get help from a professional agency. Even though it is not mandatory to get help, there will not be any complications when you take the help of professional agencies. You will not incur a major financial loss as well. Some agencies will charge 25% of the refund that you will get from the financial institution.
There are agencies which will work on ‘no win no fee’ basis as well. When you work upon ‘no win no fee’ deal, you will not pay any money if you do not win the claim.
The financial institution should accept or reject your claim. It should be conveyed within 2 to 8 weeks. If no information is received from the lender, you can reach the Financial Ombudsman (FOS). FOS will deal with the lender and ensure that you will get a reply. If your claim is rejected by the lender, you will still have hope through FOS. There are different ways to make claim and it should be done based on the type and term of the loan. You can reclaim the PPI premium payments or interest lost on PPI payments or both.
As you visit the PPI Calculator – http://www.freeppicalculator.co.uk, you will get complete information about the PPI, the claims and the claiming procedure. When you calculate the money that the lender owes you in an accurate way by providing the documentary evidence, there will be no reason to reject your claim. Thus, you can make the most of your time, effort and money when you make the claim with the help of a proven professional agency. The free PPI calculator can be used without any difficulty. There will not be any complications and you will get the best compensation in no time. The FOS will help you so that you will not suffer any loss.