There are several versions of the PPI claims letter on the internet. Most of them are templates that have been created with a range of options. This letter is specifically geared for senior citizens and they can use it to reclaim their PPI payments.
Before you start: A few tips
- List lenders, vendors or banks that you have taken loans from and which charged you PPI payments.
- Collect the address and telephone numbers of the banks/brokers/ lenders etc and make sure they are current.
- Personalize the template provided below by copying it to a WORD doc or by downloading it and saving it.
- Add the contact and telephone details to the areas that are highlighted in red.
TEMPLATE
[Your name and address]
[Date]
[Name and address of company that you took the payment protection insurance]
Dear Sir or Madam,
Re: Account number: [Your account number]
This is in relation to the PPI policy that I took and I believe was mis-sold to me at the time of purchase. This policy is unfair and it was wrongly sold to me. I wish to reclaim my payments made on the policy and any other incidental fines, late fees and other payments I might have made on the policy. I also wish to be compensated for the loss of interest on my money.
The reason I feel that the purchase of the PPI policy was unfair is as follows:
[Delete the reasons that do not apply to you]
- I was not aware that PPI was added to my [select from -[loan/credit card/credit card etc]]. I was not informed of it and I was not informed of the additional payments that I was making on the PPI policy.
- The broker strongly advised me to take PPI policy as it was a precondition for the loan [select from - [loan/credit card/credit card etc].
- The brokers also led to me believe that taking on the PPI policy would improve my chances of getting a [select from -[loan/credit card/credit card etc]. I was not offered a clear choice evenwhen I inquired about other available options.
- I was not shown a clear breakdown of the payments that I would be making on the [select from -[loan/credit card/credit card etc].
- I [select from - was/knew I was soon to be] [select from - unemployed/self-employed/retired/over the age limit] at the time of taking on the policy. I made your staff aware of this and they knew about it but I was still advised to take on the PPI policy.
- The staff members and brokers did not ask about any medical conditions that I might have. I was not told that a few medical conditions were not included in the medical policy. I was not warned that having certain medical conditions would affect my payment process.
At the time of buying the policy, I was now made aware of the entire conditions of the PPI policy. If I had known about the financial details and conditions of the policy, I would not committed to it as it provides no benefit to a senior citizen or a retired citizen of my age.
For this reason, I demand a full repayment of all the money I spent on the policy along with any subsequent interest on these payments. I also demand a payback of any incidentals, fines and deposits that I may have paid you in relation to this policy. The current interest is applicable on my payments and I demand a payback of my money as I am retired and the policy was completely superfluous to my needs.
I expect a response to this matter along with a speedy repayment within the next 6-8 weeks.
Yours faithfully,
[Your signature]
[Your name]
