Ppi Claims Letter

This ppi claims letter template has been provided as a guide to help with ppi claims. We recognise that there are individuals who may want to deal with a ppi claim or reclaim by taking on the banks or loan company themselves and for these individuals we have provided a simple ppi claim letter template.

Ppi Claim Letter Template

We have provided basic template that deals with two of the many things listed that you can claim compensation or reclaims for. Before making your claim, you should consider the consequences of taking on the claim yourself and failing, as a result of insufficient knowledge and expertise.

Many people do succeed by using templates but only at a minimal level and the feeling of beating a large organisation can be extremely satisfying but often at a cost.

Using a specialist ppi claim company

A specialist ppi claim company can maximise the ppi claim amount for you, rather than just accepting a minimum amount offered by the compensating company. Often this can be as much as four times the figure that would normally be offered to individuals. For this reason, you should consider whether or not you might be better off using the services of a ppi claim company.

PPI Claims Letter Template - 1 - Use this letter if you were mis-sold the policy because you were self-employed, unemployed or retired at the time. 
 

Please copy the letter template below and paste this into a word document on your computer. Personalise the details to you and keep a copy of any letter that you send regarding your claim.

All the best in your endeavors.

[Your name and address] [Date]

[Name and address of company providing payment protection insurance]

Dear Sir or Madam,

Re: Account number: [Your account number] - Letter of complaint

I am writing in relation to the above payment protection (PPI) policy which I believe was mis-sold to me. I believe you have not treated me fairly for the following reasons;

[Delete the reasons that do not apply to you]

• The payment protection insurance (PPI) was added without my knowledge.

• The sales person selling the insurance was pushy and strongly advised me to take the insurance.

• I was [select from – told I had to take the insurance/told I could not get my [loan/credit card/credit card etc] without the PPI/only provided with a quote for the cost of the [loan/ credit card etc] with PPI attached].

• I [select from - was/knew I was soon to be] [select from - unemployed/self-employed/retired/over the age limit] when I took out the policy and [select from – made your staff aware of this/was not asked about this].

• I was not [select from - asked about any pre-existing medical conditions I suffered from/warned that pre-existing medical conditions could affect my insurance].

• I [select from - was not informed that stress and back problems were excluded from the insurance/informed staff about (your medical condition) but was not warned that this would affect the insurance].

• I was not asked whether I already had any existing insurance or employer benefits that would cover my repayments.

• You have been punished by the Financial Services Authority for failing to treat customers fairly and I do not believe that the PPI I bought was sold in my best interest.

• I was sold a single premium policy that was not fully explained to me as [select one or more from – the whole cost of the insurance was not made clear to me/it was not explained what would be refunded if I cancelled the insurance or if I repaid the loan early].

• It was not explained that the PPI would not run for the full term of my loan.

• When I tried to cancel my insurance [select from - the refund I was offered did not represent a fair refund as is required under FSA guidelines for PPI providers /I was told I could not cancel the PPI without taking out a new credit agreement].

Unless you can prove that the policy was fair and reasonable and that I was treated fairly when I was sold the insurance, I demand a full refund of all premiums, and subsequent interest on these payments, that I have paid in relation to this policy. I also expect 8% interest to be added to each payment I have made as this is the statutory amount a court would pay.

I look forward to your full and prompt response to this letter.

If this matter is not settled within eight weeks of this letter I shall be contacting the Financial Ombudsman to investigate my complaint.

Yours faithfully,

[Your signature]

[Your name]

 If you need help email us at:  joe@financialreclaims.co.uk

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