The ppi scandal has been in full force now since May 2011 and the judicial ruling by the courts, Uk individuals that have been sold payment protection insurance on any of their financial arrangements are advised to check their policies and gather all information possible so that they can make a claim.
Sitting around and doing nothing about it will mean that more than likely you receive nothing in compensation because the banks’ and other financial corporations simply cannot be relied upon to get in touch with all people who have been mis-sold this financial product, meaning that if you do not take action then it is unlikely to get repaid by the banks.
Payment protection insurance, or ppi for short is the most commonly miss sold financial product of all time, leading to the biggest ever financial problem and an epidemic that has cost the financial corporations billions in compensation, and this is still in full force today, with a huge amount of people still claiming compensation for this wrongly sold insurance product.
It’s wise to get started early to avoid the queue however, because there are so many people that want to claim back their money, that if you “sit on your hands” so to speak then you might be in for a very long wait, stuck in a queue of people all waiting for their claim to be processed by the financial corporations and subsequently repaid back to the victims.
The compensation scales (for a successful reclaim) range from between £1,000 and £7,000 but some people have payment protection insurance attached to mortgages and secured loans, which can mean compensation in excess of £10,000, as has been the case for many people.
Some fortunate individuals in the Uk have even claimed sums of money over £50,000 so it is quite clear that for the sake of submitting your details it could be very much in your interests to do so.
Helpful resources that can help people make claims, are littered all over the newspapers, telephone directories and the internet, even television commercials have featured companies that can help facilitate a claim on your behalf, all charging a wide range of fees and offering different levels of service for the public.
The early months’ of the year seem to be the most busy for claims companies, so it could be a good idea to get in your reclaim before the early months of the year, January & February.