PPI payout from banks and other creditors across the UK are helping the UK consumers who have been mis sold their insurance policies, create more disposable income according to a recent study. With the redundancy rate at a steady increase across the board in the UK, it is no wonder that people who know they have paid PPI are looking closely at their previous policies to see if they are entitled to any type of compensation or not.
With nearly 34 Million policies in the UK alone, millions of people are wanting to find out if they have claims or not. With the ever increasing number of people finding out what PPI stands for and what it does, through media avenues such as TV advertising, radio advertising and many more ways that the media are covering the subject since banks lose a crucial judicial review in 2011, millions of consumers across the UK are using Claims Management companies to handle their PPI claims for them on their behalf.
This is because they do not have the time or inclination to deal with banks who constantly put customers requests off for PPI claims across the board, with Lloyds TSB Plc recently being fined just over £4.5 Million for not paying out on customers PPI claims.