PPI Claims-What You Should Do

If you have been miss-sold a PPI then you are not alone. Thousands of us in the UK are in a similar situation and what a lot of people don’t know is that if you have got a loan, credit or store card in the last six years, you may be able to reclaim £1,000s.

The miss-selling of expensive Payment Protection Insurance (PPI) is particularly common alongside the outlined financial products.

However, what we are seeing at the moment is banks such as Lloyds, Halifax and Bank of Scotland putting all their customers PPI claims on hold and going against the regulations of the Financial Services Authority which states that all such claims must be reviewed and responded to. If the Financial Services Authority get their way, such banks will need to pay out as much as £2 billion in order to pay back all customers who have been miss-sold a policy.

So what can you do if you are a victim of unfair charges?

The bottom line in PPI reclaiming is to be as persistent as possible. What you will find is that a lot of banks put customers off by putting their claims on hold. This acts as a deterrent for the majority of people following through with their claims unfortunately.

If you are resilient then it is highly likely your claim will be processed, however the news that many banks are going against official regulations makes the reclaiming process seem even harder. Persistence and thoroughness are the key words though.

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Explore posts in the same categories: Claims, Uncategorized

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