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Archive for tag: PPI Compensation Claims 2015

Get the New Year off to a Great Start….Start Your PPI Compensation Claim!

You will have read so much about the mis-selling of payment protection insurance (PPI); you will have seen many news reports and come across various forums, and pages of advice across the web.

You will have seen the success stories, and marvelled at how wonderful it would be if you have a windfall, worth thousands of pounds…

Perhaps you need to stop wishing and dreaming, and do something about it because there could be a lump sum out there with your name on it.

Make 2015 the year you will act on your PPI compensation claim!

Does everyone have a claim?

No this is unlikely BUT, studies show that the scale of the mis-selling of PPI is unlike anything that has been seen previously. PPI was sold by default in so many cases, that the compensation bill across all the banks is now in the billions of pounds, outstripping the budget for the London Olympic Games in 2012.

Checking the facts

It is important before you begin any claim that you have all the necessary information at your fingertips and this means looking through all the statements, account details and any other paper work you have for the account.

What you are looking for…

It might not say PPI or payment protection insurance. This is the name for an insurance policy that offers to protect repayments on loans, credit cards, mortgages, store cards, car finance etc. should you be unable to do so. Just like house insurance, and other insurance products, banks and lenders gave them PPI products names.

Hence some people are disappointed as they think that they don't have a claim, completing missing the insurance that is on their account as they think that it must say PPI.

There is no time limit, as such

If you have PPI on an account, and it shouldn't be there, then all customers are being encouraged to make a claim. Consumer law dictates that you have 3 years within which to make a claim, starting from the date that you were made aware there was a problem with the product, in this case PPI.

Making claims on accounts that are 'historic' and old can be more complex and lengthy but, can still be done. If your account was active within the last 6 years, the case can be 'easier' to resolve as the bank should have kept financial details and records.

So it is not a lost cause then…?

No, it isn't. You could be enjoying a windfall of thousands of pounds but, if you don't investigate then you will never know…