Posted: 9th January 2017
& filed under PPI
Payment protection insurance is the UK’s biggest financial scandal with over £40bn put aside to repay customers who were mis-sold policies. However, the Financial Conduct Authority may approve a proposed summer 2019 deadline for all PPI claims – despite major opposition from consumer groups. Payback Time, a campaign group, believes the deadline could save the banks £20bn that they would have otherwise used to pay back mis-sold customers.
Once the deadline is officially announced, consumers can expect longer queues and troubling consumer service. The customer claims centres will struggle to cope with increasing demand as we near the deadline and this is likely to include upscaling a claim to the Financial Ombudsman Service.
Recent figures show that just over 50% of claims that are made without the help of a company like ourselves are rejected, either because the claimant hasn’t got the access to the required information or because they haven’t got the experience of dealing with these kinds of processes.
Because of our standing in the industry we have brokered a deal with the major banks and lenders, which means that we’re not required to submit anything more than a name, date of birth and address. Once the banks have this information they’re able to assess all of their databases and determine if any PPI was added onto any finance you may have taken out.
This kind of agreement is a relatively new one and is only available to select companies.
To begin a free check with PPI.co.uk follow these simple steps:
Step 1: Use our online FREE CHECK form to enter your current contact details and select the relevant lenders that you have previously borrowed money from. We can then send you the necessary pre-filled forms.
Step 2: You will need to sign the letter of authority for each lender and return these to us as soon as possible.
Step 3: We will approach your previous lenders to identify if you have a/multiple PPI refund/s due, we will update you with the results. If you do have a refund due it is up to you whether you complete the claim with us or do this alone, there is no obligation.
All refunds from a bank should contain your PPI compensation of 10% and the APR additions you have made up in the years you have paid for PPI policies. If you believe you were mis-sold PPI then it’s essential you act quickly.
PPI.co.uk has been helping customers retrieve what has been rightfully owed to them for a long time now and during this period we’ve been able to achieve a reputation of helpful, knowledgeable service.
PPI cases are rarely ever the same, and some, particularly the older policies, can be very difficult to achieve results on. However, it’s these difficult cases that have helped us build our reputation because we’re able to draw from our experience for other similar cases and achieve excellent results for our customers.