Natwest PPI has been mis-sold to numerous people all throughout the United Kingdom. In most of the case the clients are unaware of the claim rules and procedures. This can be a critical situation. The clients can easily claim for compensation if the claims are of no use to them. Making a Natwest PPI Claim should be done only after answering certain questions discussed below. Have a look.
First of all, how will the client know that he/she has been mis-sold the PPI?
Usually, most of the people are unaware about the mis-sold PPI situations. They may keep paying premiums for more than one PPI policies. The best way to find out the happening is through a PPI claims management company. This company can provide the necessary support in letting the client known about the additional PPI policies that they are not aware of. This can be helpful in providing the client with larger refunds without even facing much of hassle in making the claim.
Nest question: Is there any sort of time limitation for making a Natwest PPI Claim?
In most of the cases, the general time limit is 6 years to make the claim. However if the client has kept the documentation for the PPI policy, then it may well be quite possible to make claim on that policy to withdraw it even before the six years period. Those who have accidentally misplaced the loan documents can file for request through a claims company.
Another important question: What is the totally compensation amount the client gets entitled to?
It can definitely vary from one case to another. As per Citizens Advice Bureau reports, the PPI can add up in the range of 13% - 56% to loan repayments. This can further add up to several thousands of pounds. If the client’s claim becomes successful, then he/she gets entitled to all the money he/she has paid till date as premium along with interest levied on those. In case, the client’s loan keeps continuing, then the monthly repayment amount gets reduced by the actual amount being paid for the PPI policy. Similarly, if the loan has already been repaid, then the client will receive the entire PPI compensation in the form of cash.
Finally, what is the total time status for receiving the PPI refund?
To be honest, there is no such time setting on the PPI refund status. There are several instances where the PPI claims got settled within a few weeks time and then there are also those instances when these claims take longer to settle because of the complexity of the claim.
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