Even though there is a large number of people who have already filed their claim years ago and received a good amount of compensation for the trouble and inconvenience that they have had to go through, there is still a lot of people who have not done this.
If you are in the latter group, then it’s important to understand your options when it comes to filing your claim and how you can ensure that everything gets handled properly. It can definitely be an intimidating experience for most people and so you will want all the help that you can get!
Preparing Your Claim
There are two ways in which you can file your claim with your bank or lender, the first way being filing the claim yourself – this is definitely the hardest way but you will get all the money that your receive from the bank.
First and foremost, you will want to gather all of your documents and paperwork together relating to the credit cards, mortgages, and loans that you have taken out with your bank or lender that have payment protection insurance attached to them. You will then want to write a complaint letter to your bank or lender outlining the problem and requesting compensation for the fact that you have been mis-sold payment protection insurance on the above items.
Ensuring Your Claim Gets Handled Properly
If you want to ensure that your claim gets handled properly and without any problems arising then you can always go through a claims management company who are very experienced in the industry and can practically file the claim on your behalf. Many people don’t like this method however simply because the claims management companies charge a small commission fee for the compensation that they have got for you – however, they take all the pain and stress out of the process and ensure that everything goes as smooth as possible.
After you have found a good claims management company they will ask for any relative documents and paperwork. After submitting this to the company they will then go ahead and write your complaint letter for you and send it off to your bank or lender – ensuring that all the necessary information is included and that you will receive your response in a timely manner by having the letter sent to the right department and anything else that is required.
It’s important to take both of these options into consideration as they each have their own distinctive pros and cons and can beneficial in their own right.