Enough is enough
People though they had heard it all when it came to banks and bankers, but missold PPI came as the last straw, especially to those who were conned into buying an eventually worthless policy.
Now these people are following up on PPI claims with a vengeance eager to get the money back that was taken by the banks using glib talk to lie to their customers. Solicitors and claims agencies have delighted stepped into the fray on the side of the cheated customers and are charging them a flat 20 percent of the refund amount as well as VAT as their fees.
Complaints related to PPI touched 50,000 in the last financial year alone, up from the around 30,000 from the year preceding it. And with two million people believed to have been fobbed off with a dud policy, complaints and claims are likely to continue to pour in.
This is good news for the claims agencies and solicitors who are in fact expanding their offices and opening up new branches to cope with a rush which will no doubt come of people eager to get their money back. Payouts till date have ranged from 1,000 pounds to 9,000 pounds and w periods have come down from the earlier 12 weeks to 28 days. However there are exceptions for complicated cases when it comes to claims where clients could wait a few months to get their dues.
It is perhaps about time people got justice after having been kept out in the cold for so long. Some are still paying off loans after buying PPI which they were not entitled to and the money refunded can be put to good use.
