According to figures nearly 70% are rejected first time round, but if you’re convinced you have a genuine claim and you have the relevant evidence to prove it: persevere.
Whether or not you have a genuine PPI claim, it is common to have your first application rejected. However statistics show that 90% of people give up at this point.
7 out 10 people that do continue will receive what they are rightfully owed. With odds like that its certainly worth having a go. The conclusion is most people is getting what they are owed.
However, if your complaint is rejected by the banks and you know that you have a genuine claim, what do you do? Well that’s where the Financial Ombudsman comes in. Once you’ve been rejected, begin an appeal with the Ombudsman and they will begin an independent investigation, they will then decide how legitimate your claim is. The Ombudsman’s independent investigation makes sure all things working well.
Just remember, giving up is exactly what the lenders want you to do. The Ombudsman will have the last word on the matter, so persevere and there could be a refund waiting for you. Don’t violate what has beed established by the Ombudsman before.