What To Do If PPI Claim is Rejected?

Published On November 4, 2016 | By Camden Leon | Finance

There are millions of people claiming for PPI refund, but unfortunately many of the people’s claims get rejected because they are not able to follow the process accurately or do not have the documents they need to support their claim. In this regards, they can use the help of information and tools available online such as PPI questionnaire, PPI claims calculator and so on.

PPI claim gets rejected most of the time generally because it is not a fair claim. The bank investigates each claim through their own procedure which is also regulated by the court, and when any claim does not meet all the parameters needed, the claim is rejected. However, for further investigation of the PPI claim, people can knock the doors of Financial Ombudsman Service or can even hire a lawyer to ensure they get their money back, but in most of the cases things can get a little difficult if the claim is initially rejected by the bank.

The consumers have to make sure that they get all their documents in order so that the banks can process the claim with ease. One of the major reasons why so many claims is rejected is not following the process duly, and that is why an ideal solution is to hire a PPI claims management company. Here is what to do if the PPI claim is rejected –

Hire PPI claims company

You need to hire a PPI claims company to understand the reason behind the rejection of your ppi compensation claim and make a fresh claim on your behalf.

Knock the doors of Financial Ombudsman Service

You can take the help of FOS which is an independent financial service who can help you get the compensation that you deserve from the lender.

Retrieve lost documents from the banks

In case your rejection was due to certain documents that you were unable to furnish, you need to spend time retrieving those documents from the banks and make a fresh claim.

Organize the documents

Once you have all the documents ready, you need to make sure that you apply along with all the documents that you previously did not have.

These are the few things one can do to get their money back in the form of PPI refunds. It is otherwise a fairly simple process, but due to lack of knowledge or documents, the valid claims can sometimes be rejected, but nothing to worry as there are ways the claim can still be validated and availed.

 

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