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Mis sold PPI Blog Archives

• November 2011 (1)
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PPI Claims

Claiming back mis sold Payment Protection Insurance is on the rise and not solely because of the recent [judicial review]. Media attention on what the FSA dubbed ‘a mis-selling scandal’ has meant many millions of people have started PPI claims in a hope they can recover all the Payment Protection payments they have paid.

Lenders have been guilty of mis-selling payment protection policies to millions of people, many of which have no use of the policy or would be unable to make a claim. If you are self-employed, retired, a civil servant or have an already existing income protection policy, there is a good chance you do not need a [PPI policy]. If you would like to start a PPI claim and would like a hand please call us on our FREEPHONE number 0800 612 7922 . As PPI claims specialists our experts can answer any questions you may have and may be able to determine if you took out payment protection.

The rise in people making PPI claims has not only put stresses on the banks to investigate these complaints but has also put huge stresses on the Financial Ombudsmen Services (the FOS), which is an independent body that resolves complaints about companies in the financial services sector including those about PPI claims. Currently the FOS is receiving 5000 PPI claims a week and of the 200,000 PPI complaints they have received, 3 out of 4 have gone in the consumers favour. This shows just how often Payment Protection Insurance is mis-sold and why so many PPI claims are being put forward.

At FRS we pride ourselves on our intimate knowledge of the legal areas surrounding the selling of Payment Protection Insurance. This means the vast majority of PPI claims we settle directly with the lender without the need to refer the PPI claim to the FOS. If however the claim needs to be referred to FOS, because the number of cases they are receiving the waiting time has risen to over 12 months. This makes it extremely important that you should start your PPI claim as soon as possible, as these waiting times may get even longer. So start your claim today call us on 0800 612 7922 .