WHY claim PPI Compensation?

In the midst of a crisis, that was both contested and hard fought, were over 2 million customers who had been wronged by the banks. The mis-selling of payment protection insurance (PPI) is something that everyone has heard of and, with it affecting a slice of the population, it is no wonder the compensation bill is now running in to billions of pounds.

But, why claim?

It is your money – in all cases, the money that you are claiming back is rightfully yours. There is no questions or deviation; someone took your money when they were not entitled to. If, on your weekly visit to the supermarket, they charged you double for your shopping at the till because it boosted their profits, would you pay it? The likelihood is that you would not and, in most cases, find another supermarket to frequent.

The bank effectively did this to you. Claim your money back!

Forced you further in to debt – people borrow money in the main, as they cannot afford to buy an item outright; mortgages buy us our homes, the unsecured personal loan buys the family car, for example, and the credit card is there for ‘emergencies’ and so on. At a time when you could ill-afford to be further in debt, PPI added to your account – whether you ‘agreed’ to it or not – forced further in to debt and, in most cases, adding years on to the term of the loan. The PPI premiums were far higher than other similar policies offered elsewhere.

The bank or lender effectively did this to you. Claim your money back!

Policy was no good in many cases – back to supermarket scenario; how do you make the decision to purchase a food item? In most cases, it is probably because you like it. You may also buy things because they are ‘good for you’. In the case of PPI, you may have been told it was the right thing to buy but, like so many other things, this blanket approach does not work. We are all different, and the same is true for our financial circumstances. The crux of the matter is, you could have been paying expensive premiums for a policy that was no good for you.

The bank or lender were responsible for doing this to you. Claim your money back!

You may have been ‘lied’ to – there are so many cases in which customers were lied to from ‘you have to buy it’, to ‘you have more chance of getting this loan if you look like a responsible person, and buy this product’. It is all wrong.

Banks and lenders have done this over and over again and so now is the time to make a stand – claim your money back!

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