England – 09/03/2012 – There is strong evidence that millions of people are yet to claim back PPI
It is estimated that banks will end up paying out over £5 billion in compensation to people who take the steps to claim back PPI. Millions of people were mis-sold PPI when they took out loans, credit cards and mortgages. All of these people are entitled to claim back the money they paid out in premiums along with interest.
The average successful claim is worth £2,500, but some people are able to claim back far more than that. Many people are able to make multiple claims because over the years they have bought several financial products all of which had mis-sold PPI attached to it.
People are likely to still get help to claim back PPI
Whilst thousands of people have claimed back PPI without help from agencies many more have done so using no win no fee claims agencies. People who have used these agencies have found the entire claims process easy to follow. All they have needed to do is to make a short phone call or spend a few minutes filling out a form and wait for the check to arrive. The simplicity of the process when using a claims agency is what has encouraged many to make a claim in the first place.
For many people the idea of writing letters, filling in forms and speaking to banks or loan companies is just too overwhelming. Most people are so busy that they do not have time to do all of this. As a result, thousands of people are missing out on a significant amount of money.
The fact that claims agencies have top class legal teams is another reason people will continue to use them. Anyone who has a claim they have made alone rejected is on their own and has to appeal the rejection themselves using their limited knowledge of the rules and regulations. In the rare event that a claim made via a claims agency is rejected the full expertise of the claim agencies legal team can be applied and in most cases, the rejection can be reversed.
The PPI Advice Line has been helping people to claim back PPI for years now. They anticipate that consumers will continue to seek help from them to make their PPI claims. Their 24/7 approach and UK call centres will continue to appeal as will the fact that people can make a claim with only a few minutes of effort using their service.
PPI Advice Line
Unit 4, The Courtyard
Zip: BD3 7AY
Tel: 0800 292 2233