PPI Question

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Is it better to use the resolver tool to reclaim PPI or use templates and do it yourself.Also, I am having trouble finding the reclaim templates.

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  • dunstonh
    dunstonh Posts: 116,596 Forumite
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    The quickest way is to normally contact the bank directly. Resolver can be good but it does have a failure rate (such as the email it sends the bank not getting there or not being able to be read in the format intended).

    Templates are rarely a good idea unless you actually amend the template to only show things that apply to you. If you leave things in which do not apply to you then they can do more damage than good (you lose credibility effectively and that can be important on balance of probability decisions). Nowadays, templates are unusual to use as most banks have their version of the FOS form on their website.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • petunia100
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    Thanks for your reply. Another question I have is did PPI always show up on statements?
  • dunstonh
    dunstonh Posts: 116,596 Forumite
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    On credit cards, it was either a transaction on the statement itemised like any other transaction or a transaction added like the interest would have been. i.e. you would have seen it. It is not invisible and cannot be hidden.

    Loan PPI did show it on the initial statement on the credit agreement.

    MPPI was nearly always a standalone monthly direct debit taken from the bank account (some very old mortgages may have collected it via the mortgage but that would have appeared on the mortgage statements).

    PPI was never hidden. However, we know many people never read their statements.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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