Anyone who bought their PPI policy over the last decade might be a holder of mis-sold PPI. The definition of PPI or payment protection insurance is premium that is normally paid to cover against failure or inability to repay loans. This might be as a result of a severe accident, unemployment or any other thing that might make it impossible to continue with the repayments of your loan. If this is the case, a reputable claims firm will help you in handling the repayment and ensure that you get your refunds. The PPI claims process is quite involving and rather than leaving your other commitments to follow up on this matter, you would better use these experienced experts.
The financial ombudsman is believed to have paid out about a third of the PPI claims that have been filed so far. The reclamation period may vary depending on the complexity of the case. You cannot receive refunds if you do not have valid proof that the PPI Is mis-sold. If for instance, the PPI provider does not disclose all the necessary information in relation to the policy, then this is a valid reason. According to experts there are so many other reasons that would qualify a PPI as mis-sold policy. There is also the question of how far back can you claim PPI? this in itself is a minefield.
What you need to do
You will need to substantiate the information you provide regarding the mis-sold PPI. This is the only way that any claims expert will be able to facilitate your claims. In the event that you were issued the policy while unemployed, then it also makes it invalid. If you are not so sure if you have a valid PPI policy, you should liaise with professionals in this industry so as to help you. There are so many online PPI claims companies but very few are up to the task. If you have no paperwork to make a ppi claim these guys could help you make a claim.