Thousands of men and women are creating claims on their credit cards for mis sold ppi regardless of whether they have ppi or not and claims management providers are performing the identical when submitting ppi claims for clients.
We all will need to stop and assume of the logical process for generating a ppi claim against our credit card and by following these recommendations it will help every person in the method specially clients as they are generally told by claims organizations they have ppi and a claim when in truth it turns out there is no ppi and it is only the client that is left disappointed by the outcome.
Firstly if your credit card is still active then it is quick to determine no matter if or not you are paying ppi, basically verify your monthly statement as there will be a charge for it which will be either known as payment protection, card protection or security protection but the word protection will usually be there for all to see. If this is not becoming charged to your card every single month then it would appear you are not paying payment protection on your credit card.
If you have stopped employing the credit card then appear for an old statement and see if this has any of the above on the statement as this is the easiest way to discover out if you have paid payment protection on the card.
Subsequent if you can't don't forget any particulars of the card the very best factor to do is get your Experian report which will expense you £2 as this will tell you who the credit card was with when you took it out and when you cleared your balance. All this info is critical and can be obtained from Experian.co.uk. Please be conscious that claims management businesses cannot get this information on your behalf as the Experian does not allow it. This report will cover at least 6 years of information so is properly worth checking.
The next stage you may possibly have to go through to see if you have ppi claims to make is a Information Subject Access Request or (DSAR) if you are still unsure if you were sold PPI or not and this will cost you £10. Either you or the claims management provider will write to the provider and ask for this and enclose a cheque or postal order for the £10 this will have to be supplied inside 40 days of the request.
DSARs will commonly have to be submitted within 6 years of the agreement ending as companies are under FSA recommendations which states they will need to retain your file for 6 years.
Your file will include your credit card statements and from these it will be easy to see if you have been mis sold payment protection if you comply with the above. At this point it is important to check by means of the statements and see if you have any charges over £12 as you can also reclaim these from the provider.
If by following these steps you do not find Payment protection on the card or the provider will not provide your file then your chances of a effective ppi claim are nearly nil.
If everybody follows these methods it will enable not only the providers but also you as the claimant as you will not be disappointed to discover out at the final minute that your ppi claims have been unsuccessful. Great luck.
missold ppi