The controversy surrounding Payment Protection Insurance (PPI) has led numerous people to file claims to reclaim fees from policies they were sold under false pretenses. So far, banks and other financial institutions have reimbursed over £10 billion, and it’s speculated that the final total could far exceed that amount. The end of this issue does not seem near, as numerous people are still not aware of having purchased, or previously owned, PPI.
Understanding PPI Claims
The upheaval surrounding PPI claims began after numerous grievances were addressed by the relevant authorities supervising consumer finance, alleging that PPI policies were mis-sold. Detailed examinations revealed that PPI mis-selling was common, resulting in hefty fines for several lenders. Promoting consumer protection, financial regulations were revamped. Thus, the provision to reclaim PPI costs was instituted. So, if you’ve been unfortunately sold a false policy, it’s advised to initiate your claim promptly.
Instances of Mis-Selling PPI
Numerous PPI claim records rest on the fact that customers weren’t informed of their basic right to compare prices for the best deal by regulations. Some were sold policies which weren’t required or would be irrelevant, while others weren’t informed about the policy and have been making payments unawares. In all such scenarios – and there are many more – it’s legally valid to claim, and considering the industry’s average reimbursement of about £2750, it’s certainly beneficial to take prompt action. The process has also been made easier than ever before.
Processing PPI Compensation Claims
Many individuals availing PPI claims prefer to employ a claim company to facilitate a stress-free process. Some, like www.howtoclaimppi.org.uk, offer contingency fee deals, which require you to pay only if your claim succeeds. Such companies have expert claims handlers who can guide you with all the necessary steps for filing your claim, and are readily available to assist. Bear in mind that you’re lawfully entitled to reimbursements for PPI mis-sold charges, so why hesitate? Make the call and join millions of people who have reclaimed their money.
The experienced team is ready to assist you in recouping funds that rightfully belong to you. The enormity of this scandal has affected people around the world; in several cases, individuals were unknowingly implicated. Companies like the aforementioned can now verify mis-sold PPI on multiple bank accounts using just one account number. Minutely scrutinizing every detail, they can help ensure you recoup every penny that’s rightfully yours, bringing an end to the PPI fiasco with the best possible outcome for consumers. A win-win indeed!
