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PPI – Ready to trust banks again?

Filed under: Services — Tags: , , — consumerfinanceclaims @ 09:09

The banks and various other loan providers responsible for the PPI mis-selling scandal have offered some advice to anyone who is looking to make a claim against them. Apparently, the easiest and most effective method of determining whether you were mis sold PPI by them in the first place is to let them help, let them investigate your case and handle things for you.

Is it just me…does this make sense?  If you believe you have reasonable grounds for compensation over alleged PPI mis-selling, why on earth would you trust the very institution that cheated you in the first place

Thousands of cases have recently surfaced thanks to a growing awareness surrounding the whole issue: it’s hardly been off the television screen for the last year or two. As a result of the publicity people now have the facts; people now have greater resources with which to determine whether they have a genuine PPI claim.

If you have a loan, or have had one over the last few years, the chances are that you will be aware of payment protection insurance. In the past, banks were very keen to point out the benefits or necessity of taking out a PPI policy.

Under specific circumstances, PPI has undoubted benefits; but it is not suitable for everyone. If you feel that you entered into PPI without all the facts, or have never questioned whether it was a necessary part of your repayment plan, then you may be entitled to make a claim.

Thousands of people are discovering hidden bank charges that they have been paying on policies, from which there is no chance they would ever be able ever claim payment protection.

PPI is quite a complex financial area. PPI policies carry specific conditions and exemptions, and so should be studied carefully to determine eligibility rules. Did you know how these conditions applied to you when discussing and before agreeing on the policy? Many people did not, and that’s where you were let down. If any of this sounds familiar then it sounds like you need advice. But do choose the source of that advice wisely.

Banks should be offering financial advice that is in the customer’s best interest, not offering advice that benefits them. Mis-sold ppi delivered a massive blow to what was once perceived by many as an honourable and trustworthy industry.  The new PPI reforms will mean that providers will, in the future, face real competition for their products; where in the past there was very little, or none.

 

If you find the prospect of reclaiming PPI a daunting task, or fear having to complete lengthy questionnaires and having to deal with indifferent providers, then don’t worry –  contact one of our team – we can usually give a quick answer as to whether there is a valid claim for PPI repayment. Even if you can’t find your policy documentation, it is not necessarily a lost cause as somewhere along the paper trail there will be payment and transfer records to help verify your claim.






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Congratulations! You're one step closer to receiving your compensation for mis–sold Payment Protection Insurance.


If all details look OK you will receive a Claim Pack through the post, usually within 48 hours. If there are any issues we need to discuss one of our advisors will call you.


Either way you need to return your Pack as quickly as possible to prevent any delays with your claim!