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Archive for tag: PPI – The Facts and the Fiction

PPI – The Facts and the Fiction

There is a whole swathe of information and disinformation about PPI and how to make a claim, that we thought we would take a look at PPI, the facts and the fiction.

Truth

Fact or Fiction? It affects everyone

It is certainly true that the number of customers affects by PPI mis-selling is huge, probably because every major bank and financial company in the UK was involved in some shape or form.

The likelihood is, if you took out a loan, credit card, mortgage and so on since the mid-2000s, you were probably affects.

Fact or Fiction? It is complex to claim back PPI

You do need to prove you have PPI on your accounts and that you were mis-sold the policy in the first place. There are many mis-selling reasons and a quality company such as PPI Scotland can help you with this.

Fact or Fiction? There's a deadline and its looming fast

True, the PPI deadline has been set for 100.59pm on Thursday 29th August 2019. If you were mis-sold PPI before summer 2017 and want to claim your money back, then you MUST do so by this date. At midnight, it will be too late.

Fact or Fiction? If the bank says NO, then that's it...

NO, you have one more avenue to explore and that is with the Financial Services Ombudsman.

Although they are finding in favour of the customer in the majority of PPI compensation cases, the high numbers of cases being referred to them is ever-increasing. Dealing with cases in chronological order may mean that your case will not be resolved for 12 months or more.

Fact or Fiction? It is difficult to claim PPI if you are in debt

NO, the process of claiming back PPI compensation is the same whether you are in debt or not.

What does differ, is what happens to the money if your claim is successful. Depending on the level of debt or arrears and whether you have an IVA arrangement etc., your PPI compensation may go towards decreasing the final amount owing.

Being left debt free is better than having to pay back money that should never have been taken off you in the first place.

Why use Payment Protection Scotland?

As a claims management company, we specialise in dealing with PPI compensation claims for all customers based across Scotland and with accounts from all UK banks, lenders and financial institutions.

If you cannot find obvious evidence of PPI on your accounts, we may still be able to help to obtaining a copy of the original paperwork from your bank.

We cannot make claims on behalf of customers where it cannot be shown that there is PPI on the account.

If you need help, or have questions that need answering, why not contact us here at Payment Protection Scotland? We will probably know the answers...