04 April 2018
The adverts are urging us to make a decision on whether to claim PPI compensation or not, reminding us that there is now a deadline. And this prompted us to ask the question - why claim PPI compensation?
The average claim is calculated to be around £2,750. This is worked out by dividing the number of policies by the overall value of these policies, and then divided by the thousands of customers believed to have been mis-sold PPI compensation.
This doesn't mean you can claim back this figure 'automatically'. You could be owed less, or you could be owed thousands more - like the business woman who walked away with an £84,000 PPI compensation settlement.
In many ways, claiming back your money, putting pressure on your bank or lender etc. is your way of being part of a collective message: banks, lenders and financial companies can no longer get away with the kind of behaviour that led to the PPI mis-selling saga.
You are not claiming money back that is not yours - you are claiming back every penny of your money that the bank took for a product that offered little insurance cover, if any at all.
Compensation is the process of putting you back to the financial position you would have been in had you not been mis-sold PPI. This means all your premiums, interest, any costs incurred as a result of the policy being on your account and commission returned too*.
*Call our team for more information on commission and PPI compensation claims.
A deadline of August 29th, 2019 has been set and although this may seem a long way off yet, time is running out.
ALL compensation claims submitted before 11.50pm on this date will be processed but do you really want or need to leave it so late? If you find PPI on your accounts or want to find out if you have been a victim of mis-selling, then make a call to our team today.
PPI compensation whether it is a few hundred pounds, or thousands is a welcome boost to anyone's finances, whether you are overdrawn at the bank or enjoying a lottery win.
For many people, PPI compensation put them back on a sound financial footing, as well as having the cash for a few extras and luxuries.
At Scottish PPI Claims, we pride ourselves on our professional service to customers. For our terms and conditions, see our website. Or, better still, why not call us?