The PPI scandal has affected millions of people in the UK, and
has been widely condemned as a massively unfair and scandalous
practice. There has been (and still is) a high demand for the banks
to make amends and earn back the trust of loyal customers that were
swindled over the ten year period that mis-sold PPI policies were
taking place.
The companies guilty of mis-selling PPI to unassuming customers
have been ordered by the High Court Ruling back in April 2011 to
contact each person who was mis-sold PPI
and give back the money they unjustly took, and this would seem
like the best course of action.
Unfortunately, due to the amount of disgruntled victims of the
scandal and a perceived reluctance of banks to sort the repayments
out, it is likely that, if a person finds out they have been
affected, they should take matters into their own hands or enlist
the services of professionals, such as Claims Management
Companies (CMCs) or solicitors, to make the claim on their
behalf.
When a person discovers that they have been the victim of the
mis-sold PPI scandal, they can feel a lot of emotions- anger,
frustration, distrust - but there's one course of action that all
of them should take: Make a
claim.
After checking their policy to verify the validity of their
claim (e.g. the policy was added to their agreement without their
knowledge) and collecting the relevant paperwork, the person should
then first contact the company that has mis-sold them the PPI and
make a complaint in written form.
This is the first step to reclaiming and unfortunately there is
a high probability that the claim may be rejected with some
companies using untactful methods to dissuade people from
reclaiming.
This shouldn't stop anyone though: The next step is to take it
either to the Financial Ombudsman or a reputable legal professional
such as a CMC or solicitor who can make a claim on the person's
behalf and can be incredibly useful for people who find it
difficult to find the time to claim or find the whole process
convoluted and unnecessarily stressful.
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