Here it is many years later, and the controversy is still ongoing when it comes to PPI. People are still being mis sold payment protection insurance, and there are still thousands per week, whom are trying to reclaim their PPI premiums. Many customers prefer to work with a specialist in that particular field as they know all the important things one needs to do. However, if you wish to do this on your own, it is not overly difficult. We will give you some hints in a basic style template which you can fill out with the most information you can gather, and then send it off to the banking institution.

First, if you do file for your payment protection insurance reclaim, keep in mind that you will probably get automatically rejected or denied your claim. Don’t let this scare you off; this is something which has been coming to light as of recently, which banks are doing. This allows them to only have to payout about 15% of all claims as that is roughly the amount of complainants that continue their actions against the financial institutions.

Make sure that you gather as many documents and records, as well as receipts you may have for your premium payments. Sit down and try to recollect what the salesperson told you when you purchased the payment protection insurance. Go into as much detail as you can, even if it is just for your own records. Contact your lender and find out and to whom and the address where you need to send your PPI claims. 
Once you have this all together, it is best to use a word processor of some type, if you do not have any software on your computer, you can always use numerous free applications which can be found online.

Structure your letter such that it is business style, with a header, date and whom it is addressed to. Be sure to include your account number. In your opening paragraph, be sure to state that you believe you were mis sold payment protection on the account number (add account number), and you wish to reclaim your premiums. The next few paragraphs should be outlining how you were mis sold the policy (we find using bullets makes it more appealing). The next paragraph should state that you expect a full refund of your policy plus the statuary 8% interest, unless they can prove you were sold the policy legally. Finally, your closing paragraph can re-iterate what you discussed, and that you expect prompt action, etc.

Try to make your letter as professional looking as possible. However, expect to receive an automatic denial of your claim. In that case you can pursue it by going to the FSO or contacting a specialist firm whom can take on the matter for you and help you with your PPI claims.