PPI Insurance claims are set to increase by up to three times as much in the next 12 months according to recent surveys. Because people are slowly realising that they have been mis sold their insurance policies millions are trying to claim it all back.
With people watching their bank account balances carefully in the economic downturn it is no wonder that PPI claims have become so popular in todays UK market. It is because of this that the increase is set to take place as millions of people know they have paid the expensive insurance and are wanting to claim everything that is rightfully back to themselves.
Many of our customers are seeing that they have paid PPI on credit agreements such as car finance, credit cards, loans and mortgages that they did not even realise that they were paying the insurance on.
Many of our clients also inform us that banks and other creditors would often say that their creditor informed them that the insurance was not optional and that without it they would not gain the credit application, this is 100% untrue and a monumental reason why those banks and creditors have mis sold the insurance so widely and have had to set aside close to £15 billion so far to deal with the claims coming from furious customers.
Even though banks have admitted wrong doing they still reject valid claims that come from CMC companies according to the FOS upto 74% of cases that are rejected by banks and other creditors are upheld by them when it comes to a final outcome.