INFOGRAPHIC: Common PPI questions – busted!

There are many questions we get asked by customers or those looking to make a PPI claim, and there are some which come up on a regular basis.

We thought we would create an easy to follow, visual infographic to help bust those common queries to give you a clearer idea of how it all works.

We hope you find it useful, but if you are still wondering about something, please do not hesitate to get in touch with us on 0800 849 8060.

In the meantime, don’t forget – YOU could be owed £1000s in mis-sold PPI cover so get in touch with us today!

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INFOGRAPHIC: Top Tips For Earning Extra Money

Over on our Facebook and Twitter channels, we’ve been sharing a lot of articles and news stories focusing on tips to #SavingPennies – simple things you can incorporate into your life to try and cut costs.

In this infographic, we’ve shifted the focus to share some top tips on how YOU could earn extra money, not just saving it. From selling unwanted items and renting out your car parking space, to pet or baby sitting and earning royalties from your website, there are plenty of ways you can benefit from additional payment.

Don’t forget too, that with up to 90% of PPI policies thought to be mis-sold, this means YOU could be owed thousands of pounds – which could make a massive change for you just in time for summer. Read on to find out!

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Infographic: What Could You Buy With Your PPI Claim?

With great excitement, we recently announced that we have now handled over 25,000 claims and helped 60,000 clients with their mis-sold payment protection insurance claims – a total of £16 million!

We receive some wonderfully positive reviews from our customers who have reclaimed what is rightfully theirs, so we thought we’d share some of these stories with you in this infographic.

Imagine if YOU had an extra boost of money this year…Check out just some of the ways in which you could potentially spend these claim back amounts.

You could be one of our satisfied customers so don’t delay, and make your claim today!

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INFOGRAPHIC: How to apply for PPI

PPI is a type of insurance policy that many people took out to help cover repayments on loans and credit cards in the event of being unable to pay the loan back due to sickness, unemployment or an accident.

With up to 90% of PPI policies are thought to be mis-sold, this means YOU could be owed thousands of pounds. But where to start? Claiming back your mis-sold PPI with The PPI team is easy,

which is why we have created this infographic to outline the basics and show the breakdown of the process.

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Does the PPI market have much time left?

It feels like the PPI claims scandal has been rumbling on for almost as long as the banks were fooling customers into paying for the unnecessary insurance policy.

With so much media coverage of the scandal over the last year or two, it would be easy to think that every customer who is owed money has now received compensation.

Yet, as research shows, the PPI scandal is far from over and there is still plenty of opportunities for PPI claims to be made.

Ongoing scandal

The Financial Ombudsman Service revealed recently that it received a whopping two million enquiries and complaints from consumers last year – an increase of 92% on the previous year.

It went on to say that PPI claims have accounted for almost three quarters of its workload over the last 12 months, demonstrating that this scandal is far from over.

With an increase in complaints that banks are failing to deal with PPI claims properly, Now is as good a time as ever to let PPI claims handlers manage the process for you.

Still time left for PPI customers

Experts estimate that the PPI scandal could end up costing banks as much as £15 billion, and with £9 billion paid out already there is still a long way to go.

So, there is just as much reason as ever for consumers who believe they might be have been mis-sold PPI to get in touch.

To speak to us about helping you make your PPI claim please call 0800 849 8660 or email info@theppiteam.com

(Source: http://www.theguardian.com/money/2013/may/29/ppi-complaints-ombudsman-banks-claims)

Lloyds staff told PPI complainants will “give up first time”

A recent undercover investigation by The Times has revealed several dubious practices in operation at one of Lloyds TSB’s complaint handling centres.

Staff at the centre were advised to turn a blind-eye to mis-selling by salesmen, even when fraud was evident, in the handling of certain complaints. They were also told that most complainants would give up on their PPI claim if rejected the first time.

Lloyds response

In response to the investigation, Lloyds have claimed that the centre, operated by accountancy firm Deloitte, was already been looked at internally prior to the time the undercover reporter was there.

They have recently terminated their contract with Deloitte, who also run similar operations for Barclays, and have stated that the incidents are ‘isolated’ and not a reflection of practice at their other centres.

Barriers to claiming PPI compensation

Despite this, the investigation still strongly suggests that banks are unwilling to pay out PPI compensation unless they really need to.

As the first bank to publicly state they would pay compensation for mis-sold policies and also the bank who have paid out the most by a long way so far (£4.3bn to 1.3 million customers at last count), it is perhaps not surprising that they would like to stop the flow of cash out of the business.

Most claimants will indeed give up if rejected first time, even if they are owed compensation, and this is where experts like The PPI Team can really help.

Our dedicated consultants will ask all the right questions to the right people and will continue to pursue your claim for as long as we believe there is compensation owed to you.

If you have been rejected by your bank once already and believe you may have a claim to make please contact us today on 0800 849 8060 or request a free call back.

(Source: http://www.bbc.co.uk/news/22851346)

Lloyds to pay out a further £1bn in mis-sold PPI

Following last weeks announcement by Barclays that they are adding £700m to their PPI refund pot, Lloyds have revealed they are setting aside a further £1bn to cover compensation claims from customers who were mis-sold PPI.

PPI Refund Bill soars over the £11bn mark

The additional money has a significant impact on Lloyds profits for the year, pushing them into a loss of £144m and takes the total figure expected to be paid out by the UK banking industry to over £11bn.

Lloyds Banking Group are the biggest contributor with a bill now standing at £5.3bn once administration expenses are taken into account. Despite this, the bank, which is still partly owned by the UK taxpayer after being bailed out by the government in 2008, claim that their underlying financial position is improving.

PPI Complaints continue to pour in

The scale of the mis-sold PPI scandal continues to be revealed as an even bigger issue than was first believed. The Financial Ombudsman Service has been so swamped with referred complaints that it can now take up to a year for a case to be resolved.

Under instruction from the financial authorities the banks are slowly going through the process of reviewing past sales and alerting customers to the possibility that they could make a claim for compensation.

As those letters go out the number of complaints being made is only going to rise but you do not need to wait for the banks to contact you, call us today on 0800 849 8060 and by asking just a few simple questions our specialists will be able to tell you if you have a claim to make.

Barclays increase PPI claim fund by £700m

When the big high street banks announced that they were setting aside nearly £10bn to pay for claims on mis-sold PPI, it revealed just how big the scandal was.

Now, as Barclays officially announce they are adding another £700m to the original fund it is clear the problem was even bigger than first thought.

Massive influx of PPI Claims

The bank say they have received far more claims than they had expected. According to the Financial Ombudsman Service, the mediator for unresolved cases, the number of complaints doubled in the first half of 2012.

This shows that the public have now become fully aware that they may be owed compensation and they are not waiting to see if the banks contact them first.

Claim back your money from Mis-sold Insurance

This extra money takes the total fund allocated by the banks to over £10bn, with Barclays now becoming the second largest contributor to that figure, after Lloyds Banking Group.

If you think you may have a claim it is worth calling us today on 0800 849 8060, we can help to investigate if your claim is valid and get your share of that £10bn back on a strictly no win, no fee basis.

Banks still achieving Massive Profits

Despite planning to pay out an additional £700m in PPI compensation, Barclays still expect to achieve three month profits of £1.7bn.

Do not miss out on your opportunity to claim back what is owed to you, call The PPI Team today  on 0800 849 8060 or start your claim online.

 

Calls for a full PPI mis-selling investigation

In the wake of the Libor scandal, a situation that is receiving a full-blown investigation from the government, the Guardian are calling for PPI mis-selling to receive the same treatment.

Counting the cost of aggressive mis-selling

Beyond the well documented sales practices that have led to so many successful PPI claims there is a whole host of other murky activity conducted by senior bank executives.

It is their practices that really need to be held to account as most salesman on the front-line were just following orders. The aggressive targets set for them may have encouraged more dubious selling tactics to be employed but the finger of blame should really point at the people setting the targets.

Collective mis-selling by the banks

It is believed that in a competitive industry the banks, building societies and insurers recognised that they needed to present a united front against the upcoming storm when the PPI scandal was really gathering pace.

They were prepared to work together to prepare collective responses to impending inquiries from both the media and regulators and took every step to avoid paying out any of the money which they have eventually been forced to.

Claim back the PPI refund you are owed

With the banks working so hard not to be helpful to their customers it is no surprise that people are so keen to bite back in the wake of the PPI scandal.

If you believe you may have been mis-sold PPI and want to make a claim please speak to one of our experts on 0800 849 8060 and get all the help you need.

You agreed to your PPI but could you still make a claim?

Despite all of the success stories where people across the country have successfully claimed a PPI refund from the banks many people are still not claiming because they think they agreed to the policy fair and square.

As the PPI scandal grew and it became a bigger target for the Financial Services Authority the aggressive mis-selling of PPI policies slowed down and banks became more cautious about how they were selling it to people.

Worthless PPI policies should still be refunded

However just because you agreed to the terms and conditions does not mean that the policy was mis-sold. In many cases, even where you think that the policy covered you against loss of earnings or sickness you would have been in for a nasty surprise if you tried to claim.

Many sellers neglect to ask about your employment status at the point of sale and most PPI policies do not cover people who are self-employed unless you go bankrupt. If you are a contractor or work for a temp agency you would not be able to claim. If either of these situations apply to you then your cover was useless and most likely mis-sold.

Mis-selling of sickness protection cover

Many people who have sickness cover included in their PPI policy do not need it because their job already had excellent sick pay conditions. In this situation the lender really should have offered you a cheaper policy that excluded the sickness cover element.

If you can show that you would be able to repay the loan with existing resources when ill or if you were not asked about your medical history and warned of any circumstances where you would be unable to claim, you have a right to complain.

Even more exclusions from PPI policies

Your policy is also probably not worth anything if you have retired and most banks or insurance companies will also refuse to pay out in the months leading up to retirement. Students are also ineligible to make a claim and are common victims of bundled PPI cover that is of no good to them.

It gets even more complicated if you work for a family company, the lender would most probably argue that you are technically self-employed and refuse to pay out on a claim.

How to make a PPI claim

So there are a whole host of situations where you can claim a refund against a PPI policy but it can still be a daunting task to undertake. The PPI Team can argue your case for you and draw on our experience of completing successful claims to make sure that you receive the money that’s owed to you.

Call us today on 0800 849 8060 and speak to an expert about your PPI claim