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TEMPLATE NO 4: General

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 very general and covers nearly every part of the PPI claim situation. You can pick and choose the options that seem correct for your particular situation. Please make sure that you read the letter again before sending it.

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.
  • Personalize the letter with your particular information and be as specific as possible.
  • Send separate letters to each lender, broker or company and keep a copy for your reference

TEMPLATE

[Your name and address]

[Date]

The Complaints Department

[Lender’s address]

[Date]

Dear Sir or Madam,

Reference: Put your loan/credit card/store card number here

This is in reference to the £xxx loan/credit card that I purchased from your store/bank/broker/. At the time of purchase, I was unemployed/ temporarily employed/ contract worker/ Add the situation you were in if it is relevant to the PPI claims process.

When I was purchasing the policy from you, I believe that I was not informed the entire situation about the policy and I was not offered any choice while purchasing the policy. [Cut out the paragraphs which are not relevant]

* I was not informed that the PPI policy was optional. I was not told that I could buy a PPI policy from another source at a later time.

* The terms of the policy were not informed to me clearly at the time of purchase. As a result, I was not able to make an informed or accurate decision about the policy

* At the time of taking on the policy, I was suffering from a [insert health condition]. I informed the salesperson but I was not informed about any policy exclusions that would be imposed on me as related to my health conditions.

* When I was taking on the policy, I told the salesperson that I was [delete as appropriate: unemployed, self-employed, on a fixed-term contract, retired]. However, I was not informed of my exclusion as per the terms of the policy and I continued to pay the required amount on my PPI policy.

* I was over the retirement age when I took the policy. I was not informed that this was a policy exclusion term.

* At the time of taking the policy, I was not informed that the policy would accrue interest and I would have fines and incidental fees on the policy and its payments which would add to my overall loan payments.

* It was not explained to me that the PPI policy would end before the credit agreement ended, which meant that I would be paying interest on a policy that was no longer valid.

* At the time of taking on the policy, I was informed that taking the policy would increase my chances of getting a loan/credit card/ etc

* At the time of taking the [delete as appropriate: mortgage, credit card, loan, store card, credit agreement]I was not informed about the PPI and I only become aware of it when I had to pay extra on my premiums.]

For this reason, I believe that I have been mis-sold this PPI policy and I would like to terminate it immediately. I also demand back the money that I have paid on the policy, along with any incidentals, fees and deposits that I might have made on this PPI policy. Please note that I have paid £xxx loan/credit card on this policy and I demand the money back along with the applicable current interest rate. As this policy is totally superfluous to my needs, I have wrongly sold it and I urge you to investigate this matter immediately.

Please look into the matter as quickly as possible or within the 6-8 weeks time that the financial authorities have sanctioned per complaint. Failing which, I will forward the complaint to the Financial Ombudsman for a speedy resolution.

Yours faithfully,

[Your signature]

[Your name]

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