There have been many cases where people try to reclaim their PPI claim and it goes on for years. PPI is one of the biggest scandals that are being affected many people in the UK. PPI is sold against loans, credit cards and other financial agreements. This insurance cover makes sure that the payment is made even if the borrower is not able to make the payment because of illness or unemployment. However, in cases where the individual was able to make all the payments without using the PPI he/ she are eligible to get the refund for the PPI.
If you have failed to get the refund from the financial institution, then your next step is to file a case with the Ombudsman. To file the case, you have to fill out a complaint form called as Payment Protection Insurance Consumer Questionnaire. This particular questionnaire gives a clear picture financial Ombudsman about your case and if you are eligible to file the case.
To complete the questionnaire you will require some information. Here is a small checklist that will help you to fill out your questionnaire easily and go through the process.
The starting year
The year you take out the payment protection insurance is important to analyse your history against the loan or credit.
The PPI claim is taken from the borrowers account. It is important to know of the account is single or joint. It is to clarify the main account holder.
How was it sold to you?
There are many ways for the financial institutions to sell the PPI to individuals. It can be through a postal application, online application, during the meeting with the broker, phone conversation with the broker or any other way.
Were you advised about the PPI?
Sometimes it is possible that the borrower was unaware about the PPI and was mis-sold. It is important to know if the PPI was recommended to you, or was a part of your loan agreement. It is also very important to know if the PPI and its limitations were completely explained to you at the time or not.
Loan still active?
If the loan is still active, what was the year when your PPI was cancelled and if it is not active is it cancelled yet or not.The PPI claim company requires all these information to form a strong case in your name and get your PPI refund as soon as possible.