Check your loan paperwork to determine the cost of your payment protection insurance (PPI) that should be included in your loan statement. If the PPI is not included in the loan statement, contact the companies involved for clarification. You should be in a position to claim your PPI even after you have completely repaid your loan or mortgage. Note that, if your PPI was sold with your mortgage, personal loan or mortgage, it may have been included in your monthly loan repayments. Confirm Whether The PPI was wrongly sold A PPI may have been wrongly sold if you were pressurized into taking one out, if the PPI was optional, if a PPI was not suitable for you at that time, if you thought taking out a PPI was optional or if it was added to your loan without your approval or knowledge, among other reasons. If any of the above cases apply to your situation, you are legally allowed to claim your PPI. Claim the PPI Personally There are many companies that offer to claim a PPI for you at a fee. They may make you believe that claiming a PPI is a tedious process but that is not always the case. Making the claim is free of charge, and a straightforward process that is open to everyone. However, if you choose to use a company, ensure that you are not required to pay upfront for the service. File a Complaint to Your Lender If you realize that you have wrongly sold a PPI or this is not suitable for your situation, you should launch a complaint with your policy provider. Start by writing to them, provide adequate information about the policy and why you think that it was wrongly sold. Your lender should respond within 8 weeks to confirm whether your complaint was rectified or request for more time to look into the issue. Seek Financial Ombudsman Services This step is recommended when the policy provider does not respond to your complaint within 8 weeks or when you feel that their decision is not fair. Financial ombudsman services are free. For better results, seek these services within 6 months after receiving a response from the policy holder or from the day you wrote to your bank or firm in case they did not respond.