Many banks offered payment protection insurance (PPI) with their loans. This insurance was supposed to be used to cover people’s payments if they are sick, disabled or lose their job. However, many customers were misled into purchasing PPI. Some customers found the policies didn’t offer the coverage the banks promised. Other customers didn’t know that they purchased PPI until years later.
Millions of irate customers have filed PPI claims against their banks. According to the head of the Financial Ombudsman Service, nearly 80% of these claims are successful.
Is it Worth Filing a PPI Claim?
Many people wonder whether it is worth their time to file a PPI claim. They are more interested when they read the following statistics:
- The average PPI refund is nearly £2,800. Some customers have won much more.
- Approximately 78% of PPI claims are successful.
Anybody who has paid for a PPI policy they didn’t want deserves to get their money back. The value of a PPI refund is determined by the amount of money a customer has paid for the policy. Customers are also paid interest on top of premiums they have been paying.
To start your PPI refunds or to talk to an adviser about reclaiming your PPI premiums, fill out the short form above and we’ll call you back.
Can You File a PPI Claim?
Anybody who has been mis-sold PPI is eligible to file a claim. You may receive compensation if any of the following apply to you:
- Your bank charged you for payment protection insurance without your knowledge.
- You were denied compensation after losing your job, suffering from a serious illness or another life tragedy the policy should have covered.
- Your bank lied to you about what the policy would cost or what it would cover.
Anybody who believes they have been mis-sold a PPI claim may want to file a claim. You may want to consider hiring a working with a well-respected PPI claims company if you don’t want to file on your own. They can help you decide whether you should file for restitution.
Benefits of Filing a Claim with Oracle Legal
Filing a PPI compensation claim can be a very frustrating process. The banks reject many claims and hope their customers won’t appeal their decision to the Financial Ombudsman Service. They also often take their time repaying customers who have won a claim. This can be discouraging if you haven’t filed a financial claim before.
Filing a PPI claim is a lot less stressful when somebody else handles the process. Oracle Legal has a team of experienced solicitors who can help you file a PPI claim. We have a great track record and have helped our clients receive millions in compensation. Oracle Legal doesn’t charge any fees up front. We only collect a fee if you win your case.
To start your mis sold PPI claim or to talk to an adviser about reclaiming your PPI premiums, fill out the short form above and we’ll call you back.