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How to Know if you were Mis-sold PPI

It is very important to have proper knowledge about payment protection insurance or PPI. These days, due to the immense advancement of technology and various uses of modern sciences, the rate or cybercrime has increased to a higher state than the early days. This is why it is important to know whether you are in a safe position or not. Problematically the users still do not have much idea about PPI. Do you find yourself confused about mis-sold PPI? Do you want to make a claim, but not really sure about how to do this? Use the following tips to gain knowledge about these.

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Knowledge about The Operating Bank And Lender

  • PPI used to be mis-sold to a great extent. The amount was so much that the amount of compensation is almost double the cost of London Olympics 2012. The compensation bill is still getting up
  • Most of the banks now have established distinguished PPI wings for this purpose
  • Go through the websites of particular banks to find out more about those sections
  • Along with your form, attach a complaint letter to make your claim or question stronger
  • If you can, provide them some suggestions or your opinion about the PPI claim
  • Show them enough interest and urgency regarding the matter

Sometimes, many customers assume that there is one reason only behind the mis-sold PPI. Since this can be quite confusing you have to make sure that you know the rest of the reasons too, if any. This can help you to reclaim ppi in a sorted manner.

 

Some Common Reasons

 

  • Your assumption that your existing medical condition was covered entirely by the PPI policy

 

  • You were not aware of all the terms and conditions before taking up the PPI policy

 

  • You were under the impression that if you buy it, you will be benefited more with your loan applications

 

  • You were not even aware of the fact that you had bought PPI

 

Whatever your reasons are, you need to be sure to have a clear knowledge about this. Instead of depending on some middleman, it is much better to manage your own whereabouts. Even if you are not fully confident, make sure to appear confident about the fact that you were mis-sold PPI and pretend that you know about your rights of claiming compensation for valid causes. All these tips are most likely to help you in claiming your PPI.

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