Info on how to Reclaim a PPI and do you Qualify for it?

PPI is one of the extremely usable insurances. However, it is observed that in majority of the cases PPI is mis-sold along with credit cards, loans and mortgages. There are several cases recorded where PPI was mis-sold and finally proved to be of no use when they were claimed. Well, in such a case there is only one option left out and that is reclaiming PPI. You can reclaim your PPI by yourself or by hiring a solicitor or a claims management company.



These days, you can easily find many people asking for their PPI claims, but regrettably most of them don’t get it. One important reason behind this is that people neglect and don’t go through the terms and conditions thoroughly and sometimes they are actually not qualified to get the PPI claim. Mentioned below is a list of essential things that you should consider when you think of requesting for PPI claim.

Find necessary documents:

First of all make sure that you have a PPI policy by finding necessary documents. Usually, even the banks write to their customers that they mis-sold a PPI. If you get any such notification do not ignore it. Your bank is writing to you because they accept that they have missold you a PPI, so this will be the right time to get the refund of the premium that you paid unnecessarily.

Your age when PPI coverage was sold to you:

PPI can only be sold to those who are above 18. Therefore, if you find that you were sold a PPI before turning 18 then you have a very good chance of rightfully asking the claim of your PPI.

Were you retired, unemployed or self-employed while taking a PPI?

If you were underage, student, unemployed or self-employed while taking the policy, then for sure it was mis-sold. In this case, you have a very good chance of making a PPI claim. PPI is worthless if you were retired or unemployed. Also, those who work part-time or working on a temporary contract basis cannot take a PPI. Thus, as the policy was mis-sold to you, you can claim it rightfully.

Now, if the above mentioned points are in your favor, you can go ahead and request for a claim, if you are denied you can reclaim it by taking professional advice.

What is the deadline to claim?

Well, there are no deadlines and you can claim it any time. However, the policy that was active in last 6 years is easy to claim. The reason behind this is 6 years is the time frame for which banks are required to keep the info about credit cards and loans. Lastly, you can claim the PPI anytime, but the important thing is that you should have necessary paperwork because without essential documents, it will be very difficult to prove your case.

In case the bank rejects your claim, you need not worry. If you have all the necessary details that will make your case stronger you can reclaim it. However, expecting a quick resolution is not wise.


Samuel is an ardent writer and he writes on many topic related to the financial and legal matters. If you are looking for ways to deal with Mis sold PPI, please visit their website to learn more about it.