What was PPI? You may have heard in the news that people are reclaiming PPI from 1st Stop Finance but first it helps to understand what PPI was. PPI stands for Payment Protection Insurance, it was a product sold alongside various finances including Loans, Credit Cards and Mortgages. The idea was that the PPI would cover you in the event that you had to be off work for any reason outside of your control. This sounds good in principle but it was unfortunately completely unnecessary for many people and for some it was added without their knowledge. This could have happened to you and if you’re thinking of reclaiming PPI from 1st Stop Finance we’d love to hear from you.
There are many ways in which PPI was mis-sold and when reclaiming PPI from 1st Stop Finance it is important to consider these when reclaiming PPI from 1st Stop Finance. One of the main ways in which PPI was wrongly sold was the practice of adding it without the consent or knowledge of the customer. Some banks encouraged their staff to add PPI to policies in misleading ways. In some cases people were told that they would not be able to get the finance without taking PPI. In most cases this wasn’t true as PPI was supposed to be optional.
How can you go about reclaiming PPI from 1st Stop Finance? Our first step is to undertake searches to establish whether or not PPI was applied to your 1st Stop Finance accounts. The searches can typically go back quite some time. We’ve had cases were the finance was taken out in the 1980’s. There are some time limits on claiming in certain cases but if you have any concerns about that we’d be happy to discuss this with you. If we find you had policies with PPI we will get back in touch with you to discuss the complaints procedure. 1st Stop Finance then have 8 weeks to get back to us with a final decision. Our average payout is around 3000 (GBP) and if your claim is rejected there is scope for escalation to the Financial Ombudsman Service.
So if you’re interested in trying to reclaim PPI from 1st Stop Finance you can fill in our online application or give us a call. It is worth noting that you are entitled to claim back PPI from 1st Stop Finance yourself. We simply offer to go through the process for you, undertaking the initial checks, talking you through the complaints and following up the claim to completion. We have a deep understanding of the claims process, a working relationship with some of the biggest banks and alternative methods of obtaining account numbers and PPI records.
The post A guide to reclaiming PPI from 1st Stop Finance appeared first on DPA Associates.
