Even though everyone is aware of the fact that there are literally tens of thousands of active PPIclaims 2011 it is also understood that this is just the tip of the iceberg. The
High Court has ruled that lenders must review claims whether they are relating
to policies dated before or after 2005. Now it is expected that PPIclaims
2011 will be more than double what had been anticipated. These projections are
based on the fact that consumers understand they can go back as many as 10 years
to see if they had been mis-sold PPI. Whether a claim is dated 2011 or 2001 lenders must review all payment protection insurance claims and judge each one on its own merit.
Devastating Blow to Bankers and Other Lenders
This latest ruling was a devastating blow to bankers and other lenders because now, even though payment protection refunds are at record levels they will continue to increase significantly in your future. Many banks are already setting aside billions of pounds in order to meet those claims as they come in. In fact, PPIclaims 2011 are forecast to reach record proportions unlike anything ever seen in the lending industry before. The money being set aside is not only to pay compensation and payment protection refunds, but will also be used to hire upwards of 6000 workers who will be needed to process the increase in PPIclaims 2011.
What You Should Know about Filing PPIclaims 2011
Even though the news is good, one thing you should be aware of is the fact that lenders will be presented with so many PPIclaims 2011 that
you may have to wait several weeks to receive a response. In addition, some
lenders also face cbacklogs after placing claims on hold while the High Court
judgement was pending. As a result tens of thousands of mis-sold PPI
claims are yet to be reviewed.
PPIclaims 2011, although being submitted in record numbers, should be reviewed
within eight weeks.
If you would like assistance with your claim, call our team on 0207 471 2000.
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