Do I have to pay to claim my mis-sold PPI?
The U.K. Payment Protection Insurance (PPI) scandal shows no signs of abating. With both Santander Bank and Royal Bank of Scotland setting aside £450 million and £550 million for their compensation funds, respectively and complaint uphold rates to the Financial Ombudsman at approximately 60%, the Financial Conduct Authority’s decision to consult on a potential 2018 time bar is being described as an ‘anti-consumer’ move.
All of the above means that now is as good a time as any to complain to your bank about any mis-sold PPI. Figures show that over 85% of those that have claimed PPI compensation have been successful, with an average £3000 payout.
Remember it’s free to claim, you don’t have to pay a fee to anyone and it’s just as quick if you do it yourself or with our help. If you use a claims management company to make a claim, they will take a cut of around 25% from the money you get back, plus VAT. If you make the claim yourself or with our help, you will be able to keep all the money you get back.
In January, we helped one of our client’s claim back three separate PPI claims, two of which offered over £700 and the third, after much persistence, paid out over £4,600 for a combined total of £5300. All at no cost to the client.
For more information on how to complain about mis-sold PPI visit our website or for advice call us on 0121 704 7810.