PPI Claims, some helpful information for you
PPI or Payment Protection Insurance is a term that is being discussed in routine conversations after the scam behind it was unearthed. With the amounts at stake, this is something that will be in active news for a long time. In some cases the claims have been in excess of £50,000, which is really shocking. Also it is hard to believe that something of this magnitude was running without any check for so many years.
The records say that around four million people have already successfully claimed back their mis-sold PPI. And the numbers are moving up on a daily basis. The banks and financial institutions too have made provisions to take care of repayments owing to PPI claims, which is noteworthy. Lloyds Bank Group has been in news for keeping aside £5 million which industry experts still feel is going to go up.
What is PPI, one should have a brief idea of it here. In technical parlance it is more of a lender’s way of confirming repayment of the credit in case of death, bankruptcy or any other mis-happening to the borrower. Taking cue from this, the credit card companies, banks, lenders and brokers all started adding PPI with or without the buyers consent. This regressive practice was discovered a few years back, but a large number of people had already been affected by it. When the impact of the PPI scam was assessed it came to fore that a large portion of the population was a victim of this. Quite understandably, every one of these would like to retrieve whatever amount has been somewhat fleeced from them. Click here to know more.
There is one option to simply go about it without taking any expert help. Though there is nothing wrong in going that way, it is however not really recommended. The laws pertaining to PPI are rather complicated and navigating through the system will require a lot of tenacity and effort. The other more viable option is going for an expert solicitor who knows the ins and outs of the game. Such experts are usually a part of a firm which specialized in PPI claims and their forte is helping people with their claims.
The first step would of course be deciding on the company which will file the PPI claim on your behalf. Thereafter you can call them or contact them by filling the contact form on their website (the phone number will be prominently displayed on their website). You will get a call back and you can discuss your claims case with them in detail. The best part about filing the claims through such companies is their no win no fee policy. This implies that you do not pay anything in case you do not win a claim.
The records say that around four million people have already successfully claimed back their mis-sold PPI. And the numbers are moving up on a daily basis. The banks and financial institutions too have made provisions to take care of repayments owing to PPI claims, which is noteworthy. Lloyds Bank Group has been in news for keeping aside £5 million which industry experts still feel is going to go up.
What is PPI, one should have a brief idea of it here. In technical parlance it is more of a lender’s way of confirming repayment of the credit in case of death, bankruptcy or any other mis-happening to the borrower. Taking cue from this, the credit card companies, banks, lenders and brokers all started adding PPI with or without the buyers consent. This regressive practice was discovered a few years back, but a large number of people had already been affected by it. When the impact of the PPI scam was assessed it came to fore that a large portion of the population was a victim of this. Quite understandably, every one of these would like to retrieve whatever amount has been somewhat fleeced from them. Click here to know more.
There is one option to simply go about it without taking any expert help. Though there is nothing wrong in going that way, it is however not really recommended. The laws pertaining to PPI are rather complicated and navigating through the system will require a lot of tenacity and effort. The other more viable option is going for an expert solicitor who knows the ins and outs of the game. Such experts are usually a part of a firm which specialized in PPI claims and their forte is helping people with their claims.
