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subject: Reclaim PPI - Take Action Immediately [print this page]


Many people are still realizing that they are eligible to make UK ppi claims even now in 2010; it has been suspected that the numbers of people filing might add an additional 2.5 million plus in five-years. Many have declared this may be one of the greatest financial scandals to strike Great Britain as it may in fact top the Endowment mis-selling scandals associated with earlier years.

Here are a few amazing statistics we found regarding information on ppi sales and profits that will help you realize why this scandal is continuing to grow, and the reason why clients are able to file in effort to reclaim payment protection.

* Presently more than 7 million brand new policies associated with payment protection are sold every year.

* When the ppi payments are incorporated in your month to month premiums (examples a home loan repayment) by the end of the term (i.e. 15 years) it may end up costing an unbelievable 60% the initial amount borrowed.

* It has been determined that of all the payment protection insurance policies taken out, that a maximum of 3.9% are ever claimed. Of the customers making claims around one-fourth of them are rejected by the payment protection insurance company (commonly from being ineligible to even have ppi in the actual first place).

* Financial institutions have reported that payment protection insurance charges account for roughly 4.9 billion pounds annually.

* It has been expressed by business watch-dogs that as much as 65% of all policies sold were inevitably mis-sold hence resulting in so many UK ppi claims.

This specific info can show you the key reason why numerous finance institutions used their ruthless techniques, or possibly explains not passing the key information and facts to the consumer whenever mis-selling; it really is very plain to see by the large annual income brought in by the sale of ppi policies. It has also recently been extensively reported that many sales people were promised substantial commissions per policy sale, therefore adding to even more mis-selling either intentionally or even coming from lack of knowledge.

It is highly recommended that if you took out any type of loan whether it is mortgage or even credit card that you determine if indeed you have payment protection insurance. You should then check to see if you belong to the various forms of how clients had been mis sold ppi and see if you have a valid case in order to reclaim ppi.

In case you do, you will have the right to try to make your UK ppi claims heard. Contact either a ppi claims specialized firm, or even visit the Financial Ombudsman to learn more and also what you should do to begin with.

Reclaim PPI - Take Action Immediately

By: Sharon Dawkins




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