| Claiming PPI Compensation, PPI, PPI Refund

Yes, it is possible to make another claim for PPI refund after already being compensated for an existing claim. There have been notable instances in the past, where despite being compensated for mis-sold PPI, claimants have not received the full compensation amount.

Recently an unusual incident came to light wherein the refund was paid to a third party. The claimant then had to file for a re-claim to the lender in order to acquire a refund. The refund payment to the third party was not mentioned in the policy. With a lack of information in ‘black and white’ no evidence was found linking the payment from the lender to the third party. On the other hand, the victim is entitled to receive the rightful compensation amount owed to them.

This incident brought into light several such other cases,whichprovoked many more victims to come forward with their claims. The victims argued that the disbursement of an incorrect compensation amount was in violation of the Consumer Credit act and the rights mentioned in it.

This act cites that an individual can ask for validity about the policy under the Consumer Credit Act. The most important question in this whole incident is whether the refund was really paid to the third party. This is the main reason why you might require professional assistance,so that you are not just successful with your claim, but you also receive the rightful compensation owed to you.

Ifyou are entitled to receive a refund, the firm can look into the intricacies of the matter and guide you in the right direction. It is therefore, recommended to consult experienced professionals who have considerable expertise in all matters related to PPI reclaims.

There is a possibility that you may receive only a part of your compensation due to the mis-interpretation. Most probably one is likely to acquire compensation based on the payments made during a particular tenure. The tenure can be possibly last till the policy was permanently terminated or when it naturally came to an end.

Claim For PPI Refund Again

There are several instances where the victims obtain their compensation in instalments. This can be tiring not to mention tedious, as you have to keep a tab of each payment being paid. The main reason for this is that you no longer trust the lender.

If your lender has mis-placed important paperwork, which specifies the actual payments they intended to make as part of the compensation package, you will be compensated based on the premium payments record in their database. This means that those records will determine your refund amount. Perhaps, this amount may include additional interest commission that you are entitled to receive.

From a legal standpoint there is nothing stopping you from making a claim for the second time as long as you were originally mis-sold the PPI policy.

Besides, there is a fixed date schedule you need to follow in order to reopen your claim. Therefore, make sure that you apply for claim well in advance before the deadline.

There have been instances of victims being under-compensated. In case you are aware about a deceased person owning a policy then you can claim on their behalf.  Also, if you had PPI on more than one loan, mortgage or credit card and have not been compensated for it, you are entitled to make claims for the other instances of mis-sold PPI.


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