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Archive for tag: Rejected PPI Claim

Have You Had Your PPI Claim Rejected?

If you have, then you are not alone. And it would seem that this is a bigger problem than people first realised.

Payment protection insurance (PPI) are three words synonymous with banks and scandal. People were effectively bamboozled out of their money at a time when they needed it most; when they needed credit. Profit hungry banks didn't stop the practice and commissioned paid staff enjoyed the growing wage packet.

On discovery on less-than-scrupulous selling techniques, after much argument and various judicial reviews, the British banks were ordered to return the money to customers. There was just once catch - the consumer had to prove they had been mis-sold the PPI policy in the first place.

For some, proving they were mis-sold PPI was relatively straightforward but for others it has proved harder.

Outrageous rejection levels

In fact, the chief executive of the Financial Conduct Authority, Martin Wheatley, has publically declared that the claim rejection levels of some banks are 'outrageous'. It would seem that the banks are determined to hold on to as much of your money as they can - not surprising given the hammering that their profits are taking as a result of their customer clawing back every penny of the compensation owed to them, including interest in many cases.

Martin Wheatley recently told a group of MPs that some banks had high rejection rate; in fact, 97% of PPI compensation claims that were rejected were later shows as being valid, legitimate complaints by the Financial Services Ombudsman. He has not ruled out further enforcement activities, such as fines and penalties, unless complaints procedures for PPI are not improved.

Had your PPI compensation claim rejected?

Then you may still have a case. Many people believe that this is the end of the road when you bank or lender says no. Don't let this happen to you!

Payment Protection Scotland is a claims management company with many years experience of helping customers make PPI compensation claims. With a high success rate as a result of our brilliant PPI assessment package, we can submit your claim to your bank and, if they reject your complaint then we can refer it to the Financial Services Ombudsman on your behalf (but with your permission!)

If you have had your PPI compensation claim rejected by your bank, come to Payment Protection Scotland. WE guarantee you'll get impartial and honest advice about your case. Call us today!