FAQ’s | The PPI Claim Company
Thursday, February 23, 2012 06:24

FAQ’s

Q?
Why might I be able to make a PPI claim?
A.
If you have taken out payment protection insurance in the last ten years then it is likely your policy may have been mis-sold. Following an investigation by the Financial Services Authority, it was discovered many of these policies had been mis-sold. As a result, anyone who has been mis-sold a policy is now entitled to make a claim.
Q?
How much compensation could I receive?
A.
The level of compensation you may be entitled to receive will depend upon a number of facts including the age of your PPI policy and how much money you have paid in. Our average customer PPI claim is currently £2,000.
Q?
Can I make more than one claim?
A.
Yes, you can make a claim for each PPI policy you have been mis-sold regardless of whether it was attached to a loan, mortgage, store card, credit card or hire purchase agreement.
Q?
I have paid off my loan/ credit card, am I still able to make a claim?
A.
Yes, you can make a claim even if your loan or credit card has been paid off in full.
Q?
How will my refund be paid?
A.
There are several ways in which a lender may choose to pay your claims refund. In most cases, you will be sent a cheque; however, they may also opt to reduce your outstanding loan or your remaining instalments. They may also use your refund to reduce any outstanding arrears you may have.
Q?
I am bankrupt, in an IVA or in debt management, am I still able to make a claim?
A.
We do not accept applications from anyone who is bankrupt, in an IVA or debt management. The reason for this is that any compensation is likely to be used to reduce your debt and, as our fees would still apply, you may be financial disadvantaged by pursuing a complaint.
Q?
How much do you charge?
A.
We work on a No Win No Fee* basis meaning we won’t charge you anything unless we win your claim. In the event your claim is successful we charge 25%+VAT.