If you have been researching the mis-selling of PPI and believe that you may be eligible to make a PPI reclaim, you are now in a position where you are looking at the options for proceeding with the claim. In the first place, there are two choices available to you. You can either proceed with the claim yourself or seek the services of a professional company to do it on your behalf.

Each of course has its advantages. If you claim yourself, you do not have to pay a company a percentage of any successful claim or any other fees. However, if you elect a company to do it on your behalf, you don’t have to worry about dealing with correspondence and general administrative side of claiming.

If you do decide to go it alone and make your ppi reclaim yourself, how do you even get started? Well, the first thing you will need to do is write a letter to your lender. All you need to do in this letter is tell them that you believe your policy was mis-sold and that you would like a refund. You do not need to worry about calculating the amount as the lender will do that for you. This initial correspondence should be brief and to the point. You may be advised to contact the provider of the PPI as opposed to the lender, in which case the lender should point you in the right direction.

Send the letter recorded delivery and keep a copy for yourself.

There’s a good chance now that your lender will respond refusing a refund and citing a reason as to why. At this stage, respond and let them know that you will take the matter up with the Financial Ombudsman. Of the cases decided by the Ombudsman around 90% are decided in the favour of the consumer. In some cases, they may be sufficient to make your lender respond more favourably. But if you are still refused a refund, your next step would be to take it up with the Ombudsman if you still believe you have a case.

This of course is not ideal, as it can lengthen the process. However, if the lender will not comply with your wishes and you’re still convinced of your case, this is the best way to move forwards.