Billions of pounds set aside as compensation to pay for the policies of mis-sold PPI are still unclaimed as many people might not even be aware that they were a target of PPI mis-selling. To try and combat this, financial regulators have instructed the banks to do everything within its means to contact customers who it is likely they have mis-sold PPI to.
However, if the PPI scandal and the way banks reacted to it (excusing themselves of any wrong doing) has taught us anything, it's that we shouldn't assume the banks have our best interests at heart. If you think you might have been mis-sold PPI by the banks, rather than waiting for them to contact you, you should find out if you have for yourself.
The first thing you'll need to know is with whom you took out a loan. If you've got all your paperwork in place or you've got a good memory this should be easy enough. However, plenty of people won't be able to remember - perhaps because it all happened so long ago or several loans were taken out at once.
If you can't remember the details about whether you paid for PPI or who you paid it to, you might think the chances of making a successful claim are impossible. However, you can access credit reports that will detail any financial services you may have bought.
For some people this will seem like a lot of work for the off-chance that they were mis-sold PPI. In these cases it might be a lot easier to speak to a PPI claims advisor who will be better equipped to do the leg work for you and help you find out quickly and easily if you have been mis-sold PPI in the past.
However, if the PPI scandal and the way banks reacted to it (excusing themselves of any wrong doing) has taught us anything, it's that we shouldn't assume the banks have our best interests at heart. If you think you might have been mis-sold PPI by the banks, rather than waiting for them to contact you, you should find out if you have for yourself.
The first thing you'll need to know is with whom you took out a loan. If you've got all your paperwork in place or you've got a good memory this should be easy enough. However, plenty of people won't be able to remember - perhaps because it all happened so long ago or several loans were taken out at once.
If you can't remember the details about whether you paid for PPI or who you paid it to, you might think the chances of making a successful claim are impossible. However, you can access credit reports that will detail any financial services you may have bought.
For some people this will seem like a lot of work for the off-chance that they were mis-sold PPI. In these cases it might be a lot easier to speak to a PPI claims advisor who will be better equipped to do the leg work for you and help you find out quickly and easily if you have been mis-sold PPI in the past.
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