Have you been following the PPI saga? The banks have been hit very hard by the scandal. Many customers have been mis-sold payment protection insurance (PPI) policies that they either did not need or were sold in an irregular manner. Thousands of people have been claiming back there mis-sold policy costs. This is a genuine scandal that has affected a great number of people, and there are more who may not know about it. Have you been paying into a PPI policy? If so, you can use a PPI calculator to find out how much compensation you might be due!
What is the Scandal All About?
A few years ago the authorities that govern consumer finance received a number of complaints. These concerned the mis-selling of PPI policies. When investigated it was found that the complainants were right: they had been mis-sold PPI. In fact, it was discovered that mis-selling was quite widespread. The result was a wholesale re-writing of the regulations, and heavy fines handed down to the banks and lenders concerned. If you think you have been mis-sold a PPI policy you may have a legitimate claim. A PPI calculator will give you a rough idea of how much you may be due.
Have I Been Mi-sold PPI?
Mis-selling of PPI occurred in a number of different ways: some people were not informed that they were being sold a policy, while others were sold policies that were of no use to them. In other cases borrowers were not informed of their right to shop around for the best policy; instead they were led to believe they were required to take out the lenders own policy. If any of these situations applies to you then you may well be entitled to compensation. How much depends on your individual circumstances, but a PPI calculator will give you a good idea.
How Do I Claim Compensation for Mis-sold PPI?
The best way to claim compensation is to enlist the help of a solicitor with experience in this area of the law. This may not be as expensive as you think, and will also give you the best chance of success. You can find PPI solicitors online – the same way you can find a PPI calculator – and they will probably offer you a no win, no fee deal in which you pay only if your claim is successful. Have a look now, and get your claim underway in just a few minutes.