Submitting a PPI reclaim Scotland could provide you with a refund of several thousands of pounds which you should receive within a few months of starting your claim. In order to be eligible for this refund, you will need to submit a claim outlining how you were mis-sold the policy and detailing how much you believe you are owed. Your bank should investigate the claim and provide you with an offer or reject your claim. Even if your claim is, or has been, rejected you can still pursue this claim through the Financial Ombudsman Service. Continue reading
PPI in Scotland
PPI Scotland claims have been partially responsible for Lloyds having to increase the size of their PPI reclaim pool to more than £7bn and they have also highlighted how small changes could lead to additional increases in this figure. They expressed concern that there is no statute regarding how long borrowers have to submit a claim. Lenders and banks had previously considered lobbying for a deadline to be placed on claims being submitted and while this has not yet materialised, it is possible that they will reopen the possibility at a later date.
Millions of people have unexpectedly received letters from their banks or other lenders to inform them that they may have been mis-sold a PPI policy in the past. In reality, the PPI scandal has been all over the news and has filled the papers, but one of the ways in which policies were mis-sold was through its inclusion in policies without the consent of the borrower. This has led to the surprise and understandable anger that tends to accompany PPI claims Scotland.
Payment protection insurance is a form of consumer insurance policy. While your car insurance protects you when you are in accidents that involve your car, your payment protection policy will help ensure that you can meet your mortgage, loan, or credit card payments. It is considered a useful policy but not all policies that were sold were relevant to the borrower and all borrowers have the right to freely choose whether they want the policy or not.
Regardless of where you live in the country, if you have been mis-sold PPI in the past few years then you have a right to reclaim the money you have paid. You should also receive interest against this value. Claims can take around 3 months to complete and while banks have been told to be more cooperative, figures show that they are increasingly likely to simply divert your claim to the Financial Ombudsman in a bid to get it off their desks.
By reclaiming PPI Glasgow consumers can enjoy a rebate equivalent to the amount they have paid in PPI charges, along with annual interest against these charges. While every case is a little different, typical claims total around £2,500 and if you have multiple Continue reading