Get 2016 off to a great start!

If we told you that providing all went well, in 8 weeks from not, a windfall of much-needed cash could be deposited in your account, what would you do?

Would you shake your head and say ‘I’ve heard it all before’? Or maybe, you think that it sounds too good to be true? You may also think that this type of good luck story happens to everyone else but you.

The truth is that with some straightforward PPI compensation claims, this is exactly what can, and has, happened.

Time is of the essence

Banks and lenders, when a customer or claim management company writes to them asking for PPI compensation after being mis-sold it, have a certain timeframe within which they must respond. In some cases, when it is clear and obvious that the customer is entitled to compensation, they could have their case resolved within 8 weeks.

There are times when it can take longer. If this is the case, the bank is expected to stay in touch with the customer, keeping them up to date with progress and when the customer can expect a decision.

Large fines

Some banks have faced large fines for not dealing with customer complaints within the accepted timeframe. This has added to the woes of the bank and so every bank and lender is now determined that their customers receive the right level of compensation within the time frame and deadlines allowed.

So, could 2016 be a lucrative start for you?

To claim back your cash, you need to take a few steps in the right direction:

• Identifying a PPI policy – check all your credit cards, store cards, car finance, loans and mortgage (in some cases, but rare) for a policy that promises to make repayments in the event that you are unable to do so. You may have been sold a policy on more than one account. And, you may also have been ‘sold’ it without you knowing.
• Gets the facts – if you do find a PPI policy, cast your mind back to when it was sold to you. Do you remember why you bought it? You may, for example, have been given the impression that it was compulsory or part of the deal. There are many others reasons that constitute mis-selling of the policy, so check with us.
• Contact Payment Protection Scotland – by signing a few consent forms, you can hand over your case to our team here at Payment Protection Scotland who will chase the compensation claim on your behalf.

Enjoy 2016! What would you do this year with an unexpected windfall?

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