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Claiming PPI Compensation – Is it Lot of Effort for a Small Reward?

Jenny decided to apply for PPI compensation after she saw it was on her credit card account. She had to fill in form after form, as well as talk to various people at the bank. After all that, she got £84 back.

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Is it really worth all the hassle to claim PPI compensation for such a small amount?

There are many things that put people off making a compensation claim for mis-sold payment protection insurance. One reason is the perceived 'hassle' of making a claim.

They read stories online or in newspaper that talk of customers filling in many forms, talking to bank representatives and even taking their case to the Financial Ombudsman Service only to find that when compensation is awarded, it was a lot less than they thought.

There are many factors that contribute to the total amount you receive back but irrespective of whether it is a few pounds or thousands of pounds you are due in compensation, making a claim is important because…

… It Is YOUR Money!

Let's consider the case of someone robbing someone else of cash in their purse. You are sat in a café when someone reaches forward, takes your purse or wallet and takes cash out of it. How would you feel?

Would it feel just as bad if they took £10 or £1,000? Now consider if the person doing it was known to you. And they knew that you didn't have a lot of money or that you struggle from month to month at the moment. How does it feel now?

This is how banks and lenders acted toward their customers. On one hand, your bank professed to know you and have your best interests at heart and yet, they sold you a policy that they knew you wouldn't be able to make a claim on.

Now, how you do you feel? Does it matter if it is £50 or £50,000?

… It is a Form of Mass Protest!

Not all of us are political animals but by joining in the PPI compensation 'movement', you along with thousands of other customers are taking a stand against the banks and lenders.

For too long, the banks got away with behaviour that was unsavoury and broke fair competition and selling rules. They carried on selling PPI not for a few months to a few people but over years and years to millions of people.

So far, the banks have paid out £33 billion in PPI compensation and the figure will continue to rise. It doesn't matterhow muchyou are due back in PPI compensation but the fact ofmaking a claimis more important.

Take a stand - call Payment Protection Scotland today!

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