Bank Charges Refunded
Payment protection insurance (PPI) has been a hot topic in the United Kingdom for the past 10 years. In 2006 the Citizens Advice Bureau (CAB) released a statement in regards to payment protection stating that it has been mis-sold on numerous occasions throughout United Kingdom possibly resulting in one of the biggest financial scandals in recent history. Since then there has been countless thousands of PPI claims filed to the Financial Ombudsman Service (FOS) setting records two years in a row. In 2009 PPI claims set a record of 30,000 complaints filed to the FOS then the following year, the record was broke again almost being double to an amount just below 50,000 claims. With the recent spike in the PPI reclaim department it is no wonder that PPI claims companies have been busy getting PPI claims started, trying to get bank charges refunded, and ensuring that each customer gets their fair share of compensation.
The Facts about PPI Claims Companies
PPI claims companies were created for borrowers who were mis-sold payment protection. These companies have worked for payment insurance policy holders for years and are accustomed to many of the tactics that lenders use to undermine borrowers. PPI claims companies know that lenders are obligated to keep original documents for six years and know what to do if it has been over six years from the onset of the policy. Considering that payment protection insurance companies has been mis-sold by lenders by the masses it is comforting to know that there are companies who are willing to work on the behalf of the borrower.
PPI Claims Companies and the Public
In recent years PPI claims companies have been seen by the United Kingdom's citizens as a beacon of hope in dark times. When lenders say that there were no ways in which to get bank charges refunded PPI claims companies set the record straight and got bank charges refunded..
Many of the companies work on a no-win no pay basis. This means that if you do
not receive financial compensation for money lost during a payment protection
policy you not have to pay the PPI claims company. These companies have produced
results such as having bank charges refunded.
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