PPI Claims Made Simple Update

On the 20th April 2011 the banks lost their challenge against the Finacial Services Authority (FSA) ruling on how they should deal with Payment Protection Claims – click here – to go to the article on our PPI – The Facts page.

PPI Claims Made Simple – making it easier to cut through the red tape and make a PPI compensation claim.

The PPI in PPI Claims Made Simple stands for Payment Protection Insurance and if you have borrowed money from a bank or other money lender by obtaining  loans, credit cards or mortgages then you will more than likely have been asked to take out Payment Protection Insurance or PPI.

With huge profits to be made the banks and other financial institutions trained their staff up to use aggressive sales tactics to increase their sales of PPI’s without considering the needs of their customers. Such was the commission to be made many people were told the policies were compulsory or that if taken out the interest rate on their loan would be lower.

Our advice at PPI Claims Made Simple is:

Many of these PPI policies sold by the banks and other financial companies were worthless and offered the person being insured no protection whatsoever, eg. if you were part time, retired or on a temporary contract then your PPI policy would probably never pay out and so was totally unsuitable. It may also have been unnecessary if you had sick pay through you job or had other insurance provisions in place.

In addition to this, PPI policies offered by the banks were often incredibly expensive, upto four times the market rate. These inflated prices saw monthly repayments rise considerably. In some cases the PPI payments (bearing in mind the total cost was usually added to the loan balance and subject to interest) were as much as the loan itself and made the overall repayments totally unaffordable. Whilst Payment Protection can provide peace of mind for some people were not given the option to purchase the PPI elsewhere and pushed into taking out expensive policies.

This has now led to the Office of Fair Trading getting involved, who have raised their own concerns that many people who took out PPI policies in the past may have been mis-sold them and therefore could be owed thousands of pounds in PPI Compensation. The way the financial institutions went about selling PPI policies has been deemed unethical and has received widespread criticism which has resulted in regulation changes allowing people to file for mis-sold PPI claims to receive compensation or their money back.

Now measures are being taken to investigate the credibility of the PPI market with consumer groups campaigning to get the sale of such policies stamped out altogether. If you have ever been sold payment protection when borrowing money in the past, you may be entitled claim compensation and reclaim all of your contributions.

That is where we at PPI Claims Made Simple comes in, because we have done our best to simplify the process of claiming a PPI refund.

The first way we have simplified the process is by ensuring that you keep over 80% of your PPI refund. There are sites out there that will take over a third of your claim as payment for their services. So check the small print before signing up to anyone else.

The second way is that we work on a no win-no fee basis, so it won’t cost you a penny to start your PPI Refund Claim. With us there is no hidden agenda, we simply specialise in PPI claims and take all the risk for you: no salesmen, no upfront costs, no cost to you if we lose and of course, we will make the process as quick and simple as possible.

PPi Claims Made Simple ‘s promise is that we will ensure that :

• At PPI Claims Made Simple there are NO upfront FEE’s.
• At PPI Claims Made Simple we offer a very competitive fee of just 15% upon completion.
• At PPI Claims Made Simple we provide a professional and friendly service.
• At PPI Claims Made Simple we investigate  your claim thoroughly.
• At PPI Claims Made Simple we check that your offer of compensation is fair and consistent with regulatory guidance.

So don’t delay, start your PPI Claim today at PPI Claims Made Simple – all you have to do is fill in the form on the right hand side of this page or just give us a call on 0800 048 8820