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PPI - Millions still waiting for banks to cough up

It is very worrying that after so much criticism over PPI, banks and other financial institutions are still not refunding customers quickly enough. If, as they say, the financial services industry really wants to regain consumer trust – to build bridges -  then it has to clean up its act.’ and do it fast!

Thousands of borrowers mis-sold rip-off insurance on loans and credit cards are being forced to endure further agonising delays for their compensation.

With Christmas just weeks away, these payouts — some worth tens of thousands of pounds - are a lifeline for many cash-strapped families duped into buying payment protection insurance. Electronically transferring money takes only minutes, sending a cheque in the postal service takes only a matter of days: but banks are keeping their customers hanging on…still using delay tactics – still leaving customers in the lurch.

Royal Bank of Scotland/NatWest and Barclaycard has finally admitted breaching a ‘gentleman’s agreement’ to pay refund customers within 28 days.

In the past, banks and lenders sold PPI policies without borrowers even knowing they had purchased it. PPI was packaged in with the loan, hidden within the small print.

Lenders have used this, somewhat underhand method of selling PPI for obvious reasons: they can sell their more expensive, branded policies above the unbranded, cheaper plans, and could sell it to borrowers to whom it was of no use what so ever.

It has now been banned for such practices to continue, and, with the borrower’s best interests in mind, PPI policies may now not be sold at the time a loan is taken out: or within 7 days of its purchase. This, it is hoped, will allow borrowers time to shop around to find the best policy for them, rather than the most profitable for the provider.

Borrowers, in the past, were actively encouraged to take out PPI even though there was no way they could have ever benefited from it. Many unsuspecting borrowers were blatantly lied to and told that they needed PPI in order to be accepted for the loan or mortgage, or that it would greatly improve their chances of being approved for one. Some even had it added to the cost of their loan without even being told that they would be paying for it.

Now that compensation is finally being paid to customers who have been poorly advised or mis sold PPI you should perhaps check whether you have a valid claim for consideration.

Payment protection insurance and any new insurance products which may come onto the market will in future be closely monitored for compliance with new regulations, and to ensure they are fairly priced. Bankers and lenders will also have to ensure advisors involved in selling of insurance type products are adequately trained: in other words – they understand the product they are selling, how it works – recognise who is eligible, and who may not benefit from it.

The Payment Protection Insurance (PPI) mis-selling scandal isn’t the first scam perpetrated by the banking industry - it’s just the most recent! – There has been similar disgraceful episodes of almost criminal behaviour in the past - scandals involving personal pensions, investments, and mortgage endowment policies.

Claim back PPI if you think you may have been mis-sold a policy - speak to an expert - whether you feel - or just fear you were mis-sold PPI by a bank, building society or other financial institution: you could be joining the tens of thousands who have already successfully received a full refund. You’ve nothing to loose, but perhaps, a lot to gain.

However, if you find the prospect of starting a PPI claim a daunting task, or don’t have the stomach to fill in 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, and if there is... we’ll act on your behalf - we’ll deal with the ‘indifferent sales staff’’.






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BulletpointsAverage claim value £2500

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BulletpointsNo Upfront Fee's

BulletpointsOn average our PPI claims take 12 weeks

BulletpointsCompetitive 20% inclusive of VAT Success Fee

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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!