What Is the Best Way to Claim PPI Compensation?

Amongst all the ifs and buts, you are bound to be bewildered. It Is therefore best to approach a reputed PPI claims company in Belfast for guidance.

North West, United Kingdom (prHWY.com) September 17, 2012 - There are almost 2.5 million users who have been mis-sold the Payment Protection Insurance with the concerned companies owing a consolidated amount of estimated 4.5 million to the public. The Payment Protection Insurance is a policy which has been fraudulently sold for over a decade now. Credit card companies as well as banks have been widely selling the Payment Protection Insurance as a compulsory addition to their services of loans, credit cards, mortgages etc. However, the good news is that the courts have ordered all banks and lending institutions to compensate for the harm caused. There are many ways to go about PPI claims in Belfast.

Fill-in a compensation claim with the bank

The best way to claim your PPI in Belfast or Northern Ireland would be to approach the bank or the lending company that mis-sold you the policy to begin with. Although this is the safest means, this method will take you a long time. You will also have to patiently go through with their requirements and processes of documentation. If you are lucky though, you may get your money as soon as possible. By the end of it, your claim may also be rejected.

Hire an attorney/solicitor

Most consumers go for an attorney/solicitor if the bank refuses to refund their PPI claims in Belfast. You will effectively be taking the bank or lending institution to court. Good news is that there is a higher probability that the court will rule in the favour of the customer. However, to make sure how much the bank owes you, do read all the contracts and financial agreements you signed for in your dealing with the bank.

Use the Financial ombudsman services

This is a body that assists the consumer in financial matters of all capacities. They have a presence in a range of services such as distributing information, carrying out research and even filling compensation claims for consumers who make PPI Belfast, Northern Ireland or any part of the country . This process is carried out free of cost but considering the number of cases the body has to handle, this promises to be a time consuming task.

Hire an online claims specialist/company

If you have tried everything, and nothing works, go for the PPI online claims specialist in Belfast or northern Ireland. Even though these companies are well-equipped with the tricks of the trade and do regular follow-ups, their charges are too high. They usually boast of a "no win no fee" mantra to advertise themselves but be careful, they charge 25-50% of the compensation amount you will get.

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