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Complaining about PPI

Although there are still a great number of people complaining about PPI and the way in which it has been mis-sold, we can actually thank the people who began complaining about PPI in the early 2000s because they were instrumental in the solution we are now benefiting from. Because of all is complaints and a major campaign launched by the citizens advice Bureau, CAB, government has legislated the right of consumers to file for a refund if they have been mis-sold payment protection insurance.

Why Are We Still Complaining about PPI?

Even though there is legislation in place that mandates lenders issue refunds on mis sold payment protection, why are we still complaining about PPI? Actually, there is a simple explanation and that is because lenders are still bending the rules and even ignoring them in some cases by continuing to misrepresent and mis-sell payment protection insurance. This is why the year 2011 will see record numbers of payment protection claims being filed for refunds. It is estimated that complaints this year will more than double those of the previous year. Why are we still complaining about PPI? We are still complaining because it is still necessary to fight to get our money back that was taken from us.

What Is Being Done about PPI Complaints?

If you are questioning what is currently being done on a government level about PPI complaints then you might be interested to know that there is new legislation in place meant to protect future borrowers from the devious sales tactics of lenders. There is a new law in effect which states that borrowers cannot purchase payment protection insurance until 14 days after the loan is agreed. This will stop lenders from using high-pressure sales techniques or coercing borrowers into carrying payment protection by telling them that the loan is only possible if they do so. It will also prevent lenders from adding payment protection insurance to the closing statement unbeknownst to borrowers. The High Court has also upheld a previous ruling stating that the FSA indeed has jurisdiction over payment protection complaints prior to the advent of the FSA's jurisdiction. In other words, it is easier for consumers to file PPI claims and it is harder for lenders to mis-sell it.

If you find that you are one of those complaining about PPI then you are probably looking to file a claim with the lender for a full refund of premiums and interest you have paid into this dubious cover. If you have been mis-sold payment protection insurance is your right to do so. However, if you feel that you would like help filing a claim with a lender you want nothing more to do with, contact the claims team at Belmont Thornton. We have represented thousands of UK consumers in successfully claiming back mis-sold PPI and we can do the same for you. Call us today on 0207 471 2000. A claim pack can be in the post as early as tomorrow and you'll be that much closer to getting back what is rightfully yours.

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