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Archive for tag: Claim Back PPI Scotland

Why You Really Should Claim Back PPI…

… or certainly take a long hard look to check you don't have it!

When there is a mass campaign like the one associated with mis-sold payment protection insurance (PPI), many people think that it applies to everyone else except them.

For a start, they never would have agreed to PPI because…

Many people think they don't have PPI because no one asked them, they weren't sold it etc. BUT this was a common mis-selling play that many banks, lenders and building societies used to 'sell' as many policies as possible, and watch the profits rise.

You NEED to be aware that it was sold to you, without you even knowing in many, many cases.

It's not worth the hassle

The majority of claims are resolved in a timely fashion and without too much stress or hassle. There are some claims that are protracted and refused by the bank. There is one more avenue of redress you can follow and that is the Financial Ombudsman Service.

Who?

The Financial Ombudsman Service, or FOS for short, is the company who regulates on arguments etc. between the customer and the financial industry on ALL financial issues and products, not just PPI.

It is probably true to say that the majority of people didn't know FOS existed until the PPI mis-selling debacle surfaced! They are inundated with PPI complaints but they have taken on extra staff to deal with the complaints and are making good headway.

But, if the bank have said no, then surely there is not a case?

Banks and lenders are trying very hard to hold on to as much of their profits as they can; poor profit performance, even a loss, can signal disaster for a bank. It makes them vulnerable to take overs etc. and so they will want to avoid as much as possible, giving money back to customers.

They do sometimes disagree with why the customer thinks they are entitled to their money back and so say 'no'. Some people accept this but others choose to have someone independent look over the whole issue and make the final decision.

Can Payment Protection Scotland still help?

Yes we can. We can help you make a fresh claim or, of your PPI compensation claim has been turned down by your bank, we can look at you case and advise on the best way forward.

We do charge a fee for our service and our terms and conditions, along with payment terms, can be found on our website or, alternatively, call us!