‘How Can I Prove the Bank Misjudged My PPI Refund?’


Posted: 4th May 2017

In spite of rumours and actual undercover work completed by The Times in regards to banks rejecting legitimate complaints without clear and proper investigation, all banks are responsible for claims rejected without proper grounds.  The Financial Ombudsman is generally more likely to side with consumers, but it’s key that any potential mis-sold consumers understand how their claim is correct and how to present the information to the Ombudsman.

All consumers must have their up-to-date PPI repayment paper work and billing statements ready to present. Something called a data access request – which you can purchase for £10 – is an especially good thing to get your hands on, particularly for mortgages. Banks often state their six-year account holding policies, which will enable them to reject a complaint without any real evidence. A data access request alleviates this and enables a consumer to access all activities that will include PPI, your mortgage and other financial information.

Banks have been punished in the past for rejecting claims without investigating them properly, the FCA has punished many of them for dragging their feet when it comes to investigating and paying out from complaints; this may only get worse as we draw closer to the deadline. Signs of the banks trying to pull a fast one, include receiving an apology letter of rejection by sending you a generic letter that not only fails to detail account information, but also a failure to specify why the claim was rejected.

The Financial Ombudsman is willing to take on complaints as long as it makes sense to do so. However, it can take time to process the complaint with the Financial Ombudsman and in some cases consumers aren’t fully aware of the specifics and the important information to make a claim. This is why it can often be a good idea to utilise the expertise of a company like ppi.co.uk, whose knowledge and experience can really make the process much easier.

If you believe your claim was unfairly rejected then don’t hesitate to contact us and we will investigate your claim.

‘Can I Claim PPI from the 1980’s?’


Posted: 3rd May 2017 & filed under PPI

At ppi.co.uk our expertise and experience means that we are able to help our customers claim back payments from mis-sold PPI from up to 30-years ago.

Claiming PPI going as far back as the 1980’s is not impossible and it’s not as hard as it might seem. We specialise in aging and difficult PPI claims and we don’t need any original paperwork to begin the claims process, this is because of our standing and experience in the industry.

If, like so many others, you were mis-sold a PPI policy during the ‘80s, then don’t give up – getting what is rightfully owed to you is more than possible. We don’t need any original finance agreements or stacks of paper work to begin a claim.

Banks and finance intuitions had free reign for decades and were making massive profits from the mis-selling of PPI policies. PPI was distributed to people to make sure that they were able to meet their repayments on financial products if they were to ever lose their employment or fall ill. The extent of mis-selling only became public knowledge during the 1990’s and it found that employees at financial institutions were incentivised to push policies onto customers with no regard for whether the customer needed them or not; meaning a good deal of the policies sold were completely useless.

If you believe you were mis-sold PPI in the last 30-years we are able to assist you in claiming what is rightfully owed to you. No documents or even original agreements will be required for us to make a claim, we won’t even need the original policy number.

Contact us today to begin your claim before it’s too late.

Banks are eagerly awaiting the PPI deadline


Posted: 21st February 2017 & filed under PPI

The PPI scandal has been a topic of controversy for the past few years, with many people affected by the massive scandal. It is still consistently the most complained about financial product by far.

However, only 25% of people who are owed a refund for mis-sold PPI are thought to have actually claimed and received their rightfully owed money.  Proposing a deadline would therefore seem to be somewhat premature. However, the prospect of a deadline being put in place is obviously very appealing to banks, who will potentially be saving a large amount of money as they will not have to repay the masses of customers who are owed PPI refunds.

In fact, it has been suggested by the campaign group Payback Time that banks are expecting to save as much as £23 billion in unpaid PPI refunds. This very substantial figure not only explains why banks have been so eager for the deadline to be enforced, but also highlights just how much money is still owed to unsuspecting clients.

Financial experts have also suggested that banks are in a reasonably desperate situation regarding their capital, and the PPI deadline will give them an opportunity to rebuild their assets at an earlier convenience.

With the banking industry having reason to be eager for the deadline to be enforced, as well as the economy to consider, it has been discussed that the deadline will be confirmed this year, and will be enforced in June 2019. To make sure that as many people as possible receive the compensation they deserve before the deadline, an advertising campaign worth £42 million has been organised to be launched for the 2 years preceding the deadline.

If you have reason to believe that you are one of the many people still owed a refund for PPI, it is highly advisable that you should act quickly, given that banks and the financial industry are gearing up for the deadline being confirmed.

It is now more important than ever to check if you are owed a large sum of money. Many people have been refunded thousands of pounds after having paid unknowingly for PPI policies which were not beneficial to them, you could be one of the victims.

All you have to do to get the process started is complete a free check, for which you will only have to provide your name, current address, date of birth and select the relevant lenders that you have previously borrowed from in the form of a loan, credit card or mortgage. Following this, we will be able to send you the pre-filled forms for you to simply add your signature. Don’t worry, we do not need any account numbers. 

With the deadline in sight, don’t delay starting the process, check today to see if you could receive a large PPI refund.

PPI problems is still the top financial complaint


Posted: 10th February 2017 & filed under PPI

The PPI scandal is well known to be one of the most problematic financial issues to aggravate banks’ clients in the UK. Complaints surrounding the issue are still topping the charts as the most complained about financial matter by far.

Reports published by the Financial Ombudsman suggest that PPI has been the most complained about product of the last quarter of 2016. A total of 70,908 complaints were reported and 36,065 of these were new cases regarding PPI. This means that over half of the total number of complaints received in the financial industry were to do with PPI.

The figures published by the Financial Ombudsman service highlight the magnitude of the PPI issue, and they also reflect the amount of customers who have experienced problems with the PPI product.

Not only this, but the figures also show that 44% of complaints related to PPI were upheld in favour of the consumer. This is a large amount of accepted complaints in comparison to the financial industry average, which is 37%.

PPI was not only the most complained about product in the last quarter of 2016, but it was also the most complained about product in the three months previous to that, when the Financial Ombudsman reported that 42,907 new cases were opened.

However, despite the staggering amount of PPI issues reported and claimed for, it has been suggested that less than 25% of people owed refunds for mis-sold PPI have actually reclaimed the money they are rightfully owed. This means that there are still an even larger number of clients who are still yet to claim.

It has also been reported that older people, between the ages of 46 and 65 make up for the largest proportion of PPI complaints; in fact, this age group accounted for 71% of all complaints. In contrast, the younger generation aged 25 and below accounted for the least amount of PPI complaints, making up for just 2% of the complaints opened regarding PPI.

With a possible spring 2019 deadline to make a claim, it is to be expected that PPI complaints will continue to be one of the most complained about issues for the next few months, as clients realise the importance of claiming their rightfully owed money before they are unable to do so.

If you believe that you may be owed a PPI refund, it is highly important to find out whether you can make a claim as soon as possible.

The process is very easy; you can start by beginning your free check today to see if you are owed PPI.

The only information you will need to provide is your name, date of birth and address and we will send you the pre-filled forms to simply add your signature. Don’t worry, we will not need any account numbers. 

Start your free check today and see if you could receive a refund which could be a large sum of money!

Common PPI questions answered


Posted: 8th February 2017 & filed under PPI

Despite having been a newsworthy topic for years, PPI still remains to be a topic of mystery for many. It is for this reason that many people are still owed money for being mis-sold PPI, and are left unaware that they could receive a reimbursement which could run into thousands.

Here, we attempt to answer some of the common questions regarding PPI and where you stand in regards to making a claim.

  • What is PPI?

PPI stands for payment protection insurance. In principal, it is an insurance policy which covers repayments on loans, store cards, credit cards and mortgages in the event that a client would be unable to meet their repayments due to circumstances such as death, loss of employment, or illness.

  • What counts as mis-selling?

There were many cases of mis-selling during the height of the PPI scandal, due to a large amount of pressure being enforced on employees to sell the product. Tactics which were employed to sell the product wrongly included:

  • Putting an immense amount of pressure on the client to purchase PPI.
  • Telling clients that purchasing PPI would increase their chances of their loan being accepted.
  • Telling clients that PPI must be purchased alongside a loan.
  • Adding PPI onto bills without the client knowing about it.
  • Selling PPI to a person who would not be eligible to claim under any circumstances, e.g. an individual would not be able to claim if they were self-employed or had an illness at the time of taking out the insurance.
  • Being sold PPI which did not suit the customers’ circumstances, for example it was valid for a time scale different to that of the loan.

If the above reasons do not apply to your situation, but you still feel as though you were mis-sold PPI, you may still have grounds to reclaim your money.

  • Are there any time limits for making a PPI claim?

Generally, a claim made within 6 years after being mis-sold PPI is a simpler process than making a claim after a longer time frame. However, time limits vary from case to case. If you are unsure as to whether you can still make a claim, it is a good idea to start your claim as soon as possible to ensure that you have the best chances of receiving your repayment.

In regards to the overall time limit, the banking industry are very keen to put a deadline on all claims, and Spring 2019 is considered to be the likely date.

  • How much money could I claim back?

Generally speaking, there is no specific amount of money which can be specified as to how much you will be able to claim back, as it all depends on the individual circumstances. However, usually the larger your loan or credit card balance, the larger your PPI refund will be. On average, the usual claim amount will be around £3,000, but customers can be refunded much more if it’s applicable.

  • How do I check if I can claim?

If you think you may be owed a refund for being mis-sold PPI, it is important to check if you can make a claim as soon as possible. You can start this process by filling out our free check; all you need to provide is your name, address and date of birth and we will be able to send you the forms for a full check to be carried out. Don’t delay; start the process today and you could receive a large repayment!

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