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PPI Mis-Selling – Millions Paid Back But Many Still Must Make a Claim
PPI Mis-Selling – Millions Paid Back But Many Still Must Make a Claim
A staggering £204 million was paid to victims of financial mis-selling but thousands of PPI mis-selling victims are still failing to claim back PPI
Liverpool,
Merseyside,
United Kingdom
(prbd.net)
27/07/2010
"A growing phenomena is that banks continue to try and silence or buy-off claimants by making ‘goodwill’ gestures. "
The Financial Services Compensation Scheme’s (FSCS) has released its annual report and accounts for 2009/10 and reveals that during this period, a staggering £204 million was paid in compensation to financial consumers.
Of this figure, almost two thirds was to victims of Payment Protection Insurance (PPI) mis-selling. PPI mis-selling has affected hundreds of thousands of consumers who were mis-sold PPI by banks and other financial institutions. During this period the number of claims being escalated to the FSCS stood at 2,400 with forecasts indicating that the number of claims will continue to rise in 2010/11.
Why are the number of claims rising? Firstly, press coverage has been significant. Add to this growing consumer awareness of PPI mi-selling and that in part explains the growth in claims. However, the biggest contributing factor could be placed on the financial institutions themselves who continue to try and deter, fob off or even pay off with so-called ‘goodwill’ gestures. Consumers and PPI claim specialists alike are getting wiser at not accepting rejection or initial offers that are often significantly below the correct figure.
PPI claims specialist firm PPI Return
have many years of working on behalf of clients to recover PPI payments. PPI Return work with clients who have typically been mis-sold PPI when self-employed, nearing retirement, retired or suffering from a long-term illness. Anyone paying for PPI under these scenarios would have been precluded from making a claim and paid for PPI as a wholly mis-sold financial product. There are many other conditions where PPI was mis-sold and PPI Return are well placed to make a successful PPI claim on behalf of clients.
A growing phenomena is that banks continue to try and silence or buy-off claimants by making ‘goodwill’ gestures. Alternatively banks reply with a blanket rejection for genuine claims and deter many from completing a claim. PPI Return can determine the best solution for clients and get the best compensation for clients. As PPI claim specialists the company can often speed up the process without having to involve the FSCS or other ombudsman.
ABOUT
PPI Return is one of the UK’s leading PPI claims law firms with a wealth of experience and highly qualified legal advisors.
PPI Return is dedicated exclusively to helping clients regain mis-sold Payment Protection Insurance (PPI) payments. There are many thousands of people in the UK who were either mis-sold PPI or not informed of how the PPI worked when taking out loans. PPI Return works to correct this wrong doing and works on a highly competitive fee basis. PPI Return provides an online ’60 Second Test’ where you can quickly assess if you are entitled to make a claim for mis-sold PPI in addition to Web Chat with PPI Claim specialists.
CONTACT
PPI Return
Mersey Chambers
5 Old Churchyard
Liverpool
L2 8GW
Tel: 0800 877 8888
info@ppireturn.co.uk
PPI Return