For those looking to claim compensation for mis-sold PPI, how long the process will take is of major importance. If you have been wrongly charged money for a policy which you didn’t want or ask for then you will naturally want to reclaim this money as quickly as possible, and here at iSmart we understand the process and will help to move things along as quickly as possible.
Of course, we can’t put an exact limit on the length of time your case will take – each claim is different and we judge each case for complaint on an individual basis. Some claims are settled in a matter of weeks, whilst others can take longer. This depends on the provider that mis-sold the policy to you in the first instance.
Your reclaim process will start the minute you call us or fill in the online application form. The process will involve the following steps:
- Specialist advisors investigate whether you have been mis-sold PPI or not
For them to do this they need to know when the insurance was sold and the circumstances in which it was sold.
- Once we have determined if you are eligible for a claim we must wait to hear from your lender or credit card provider- this is where the time for processing claims can vary. Some lenders will be willing to settle in full while others may require some negotiation
When we first assess your case we will look at your circumstances and give you an estimate of how long your individual claim is likely to take and how much compensation you are likely to receive.
We will keep you informed at every stage in the process so that you always know what is going on.
How do I know if I was mis-sold it?
If you have taken out finance in the last six years, be it a credit card, store card, personal loan or car finance and can answer “yes” to any of the following statements, you may have been mis-sold PPI. If this is the case then you should call one of our experts today.
- Was PPI added to your finance without you asking for the cover?
- Was it implied that the insurance was compulsory or that taking it would mean you had a better chance of obtaining finance?
- Were you not informed that the policy was optional or that cheaper cover may have been purchased elsewhere?
- Were the policy exclusions, such as stress related illness and back problems, not explained to you?
- Were you self-employed, unemployed or retired at the time of taking out the cover?
- Did you have a medical condition or an illness when you took out the cover that could have kept you from working?
- Did you purchase PPI to cover a long term loan but the insurance sold to you covered a much shorter period which was not explained to you?