The amazingly high number of complaints made about mis sold PPI has created a bit of a back log of work at the FOS. So many people now prefer to speed their claims up by using specialist solicitors instead. The reason the FOS is completely inundated by chasing up claims for individuals is because the media and press have raised awareness about the unfair practises used by lenders to ensnare unwary customers into signing up for insurance they just didn’t need. In order to claim back all the money paid needlessly to the lender the customer must first be prepared to complain in writing with evidence to back up their case.
Customers Prefer Praiseworthy Payment Protection Promises
Banks and lenders are also automatically rejecting initial complaints from customers in order to strong out the process while holding tightly on to the customer money at the same time. And the knock on effect of the banks stalling for time means that as more and more complaints are referred further, the length of time between referral and completion is stretching longer and longer. Customers are sometimes made to wait nearly 18 months before they see their claim accepted and upheld, and then get their money back. In these times of economic uncertainty it certainly isn’t the bank who’ll suffer a long wait with no money while a claim for PPI is processed through several departments and paper bureaucracy.
Goodwill Gestures Rejected - Payment Insurance Claims
Another stalling techniques used by the lenders to fob off a claim for PPI was to offer  significantly lower amounts of money as a goodwill gesture to the customer to see if they’d give up at that point. Many people may have already accepted this and are therefore no eligible to pursue their claims any further. But if you’ve reject it then it can take time and energy to chase a claim yourself. It’s a reasonable alternative to decide to hire a third party solicitor with experience in the process to chase your claim for PPI on your behalf.
PPI Return – The Experts in PPI Claim Compensation
Do you know if you’re eligible to make a claim on your PPI payments? If you’re not sure, or would like to find out more information about the process involved in making a claim for PPI, then call us today on 0800 877 8888, or take our 60 second test online now.