Introduction
Have you been mis-sold Payment Protection Insurance (PPI)? If so, you have the right to file a complaint and seek compensation. This guide will walk you through the steps you need to take, making the process simple and straightforward, even if you’re unfamiliar with legal jargon. At Contend, we understand that navigating legal issues can be overwhelming. Our highly trained AI legal experts are here to provide you with the guidance you need to resolve your legal problems with ease. Discover your rights and take the first step towards reclaiming what you’re owed!
If you believe that you were mis-sold Payment Protection Insurance (PPI), you have the right to file a complaint. Mis-selling occurs when the insurance was sold to you inappropriately or without proper information. This guide will help you understand how to navigate the complaint process, even if you’re not familiar with legal terms.
Key Information Before You Complain
Before you make a complaint, gather some important details:
- Your PPI policy number (if you have it)
- The date you took out the loan or credit
- The date you purchased the PPI (this is usually the same as your loan date)
- Your employment status at the time (were you employed or self-employed?)
This information will help streamline your complaint process.
Who to Complain To
Typically, you should file your complaint with the company that provided your loan or credit. They will guide you if you need to reach out to a different entity. If you’re dealing with a store card, check the paperwork for the name of the credit provider.
If you need assistance, you can also file a complaint through the Financial Ombudsman Service. Simply find the company you borrowed from and fill out the complaint form.
What If You Can’t Find the Company?
If you can’t locate the company that sold you the PPI, it may have changed names or gone out of business. In this case, you can contact the Financial Conduct Authority (FCA) for guidance on where to direct your complaint.
FCA PPI Helpline:
- Phone: 0800 101 8800 (available Monday to Friday, 8 AM to 6 PM, and Saturday, 9 AM to 1 PM)
- Textphone: 18001 01434 372 580
- Email: ppi@fca.org.uk
- Webchat: FCA Contact Us
- Twitter: @ppifca
What Happens After You Complain?
Once you submit your complaint, the PPI company has 8 weeks to respond. They will either accept your complaint or explain why they need more time. If you don’t hear back or are unhappy with their response, you can escalate your complaint to the Financial Ombudsman Service within 6 months.
Keep in mind, if more than 6 months have passed but you couldn’t file earlier due to circumstances like illness, the Ombudsman may still assist you.
If Your Complaint is Accepted
If the company accepts your complaint, they will offer you compensation. Before you agree to the amount, ensure it covers:
- The total cost of the PPI you paid
- Any extra interest incurred because of the PPI
- Any commission over 50% that you were not informed about at the time of purchase
- An additional 8% interest on the amount they’re offering
Once you accept their offer, you cannot change your mind, so make sure it’s satisfactory. If the company sends you a payment before you officially accept it, you still have the option to challenge the amount.
Need More Help?
If you’re unsure about how much compensation you should receive or if you believe the amount offered is incorrect, consider trying Contend’s legal expert chat. Contend’s highly trained AI legal experts will work with you to provide guidance and help you understand and resolve your legal problems.
Final Thoughts
Filing a complaint about mis-sold PPI can seem daunting, but you have the right to seek compensation. Remember, it’s free to complain, and you don’t need to hire a company to assist you, as they often take a portion of your compensation. Take control of your situation and ensure you receive what you’re owed!
For more info, check out some of our related articles:
- Mis-Sold Mortgage in the UK? Your Guide to Rights & Remedies
- UK Bank Complaint Guide: Navigate the Process & Know Your Rights
- Guide to Complaining About Payday Loans in the UK
- Guide to Filing a Complaint Against UK Insolvency Practitioners
- Appeal Your PIP Decision: Step-by-Step Guide for UK Claimants
