Filing for compensation from your lender or bank on regards of a ppi claim should be done as soon as a person is sure that their loan, credit card, mortgage or store card was wrongly sold to them alongside their ppi. As a general rule, financial regulators have a policy whereby a financial lending institution such as a bank should immediately call the specific people that are affected as a result of wrongly selling ppi to people. This should be done by first writing to a bank or to a uk complaints ppi agency. This is also another way of giving yourself the benefit of doubt that you are indeed qualified for compensation.
If you are not sure that you are eligible for compensation, once you write to your specific financial lender, they are required to call you back and give you the necessary documentation or a web site link to ppi reclaim service where you can identify the various categories or situations that may make a person eligible for compensation. If you write to the bank, you can actually get a response within four weeks of writing which is basically the time put by financial regulators.
Once your lender or your bank took the responsibility of covering for the type of loan you took before, this is to say that they will have all the documents that were processed at the time when the loan was approved. These documents are usually kept for a period of six years as required by the law. You also need more reading on how such claims are filed and how much money a person is supposed to get after successfully filing for a refund or compensation. To be on the safe side, it is important that you seek for a ppi service provider for more help or information.