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Report Shows Huge Number Of Complaints Made to Banks. Only Half Of PPI Claims Are Successful
Report Shows Huge Number Of Complaints Made to Banks. Only Half Of PPI Claims Are Successful
A mere 54% of PPI claims made to banks are successful. Using a PPI claims specialist may increase success and gain higher compensation.
Liverpool,
Merseyside,
United Kingdom
(prbd.net)
27/08/2010
"Recent changes in the way banks handle PPI mis-selling claims may mean that processing time may be quickened and the percentage of individuals making successful claims may rise. However, the financial sector is historically slow at reacting to change"
Staggering statistics have just been released by The Telegraph revealing that leading high street banks and financial institutions receive daily complaints numbering in the thousands.
In the six months to June, Lloyds TSB Group received 288,717, equivalent to 1,850 daily. Most of the complaints related to banking issues – overdrafts and overdraft charges but more than 41,000 related to complaints about the way the group sold insurance products, primarily mis-selling of payment protection insurance (PPI). Where customers complained – 54% were successful in their claims for mis-sold PPI.
If this figure is typical for the banking industry as whole, then there are potentially 46% of claimants having their claims rejected. This is something that PPI Return is acutely aware of. The PPI claim specialist firm has experienced significant growth in enquiries from disgruntled financial consumers who receive blanket rejections or token “goodwill” gestures from their banks.
Recent changes in the way banks handle PPI mis-selling claims may mean that processing time may be quickened and the percentage of individuals making successful claims may rise. However, the financial sector is historically slow at reacting to change.
PPI Return champion the financial consumer’s corner and have extensive experience of making successful PPI claims on behalf of their clients. The company can quickly assess if a financial consumer is eligible to make a claim and they can significantly shorten the claim process while at the same time making a claim for the maximum entitlement. PPI Return’s expertise can often bypass any need to escalate the issue to the Financial Services Authority (FSA) who have also been inundated by claims.
ABOUT
PPI Return is one of the UK’s leading PPI claims law firms with a wealth of experience and highly qualified legal advisors.
PPI Return is dedicated exclusively to helping clients regain mis-sold Payment Protection Insurance (PPI) payments. There are many thousands of people in the UK who were either mis-sold PPI or not informed of how the PPI worked when taking out loans. PPI Return works to correct this wrong doing and works on a highly competitive fee basis. PPI Return provides an online ’60 Second Test’ where you can quickly assess if you are entitled to make a claim for mis-sold PPI in addition to Web Chat with PPI Claim specialists.
CONTACT
PPI Return
Mersey Chambers
5 Old Churchyard
Liverpool
L2 8GW
Tel: 0800 877 8888
info@ppireturn.co.uk
PPI Return