Document Sample
The-Financial-Services-Authority-(FSA)-Have-Said-T14 Powered By Docstoc
					The Financial Services Authority (FSA) have
    said that last year the banks and other
  lenders have paid out 1.9 billion pounds to
compensate customers who were miss-sold
PPI, which is an insurance that covers loans,
credit cards, mortgages, store card, and car
finance repayments if the borrower loses his
income or is unable to make their payments
     due to illness. However, according to
 statistics by Money Mail, the total expected
     PPI compensation payout which was
originally thought to be around 7 billion could
                rise to 14 billion!

If more people submit claims and take a more proactive approach in
reclaiming PPI; Banks could end up paying an extra 6 4billion in
controversial payment protection insurance (PPI) payouts to millions
of "forgotten victims" This would blow a huge hole in the banks" own
provisions for the miss-selling scandal "" a scandal that they are
eager to put behind "" as currently, administration costs of 7 6billion,
and the PPI payouts themselves, are forcing many to rethink on how
they plan to compensate customers The reason for this forecast is
that the FSA strongly suspects a total 10 8million people could be
eligible for a payout They fear that if only 10 percent of people
respond and react, a potential 9
7 million may miss out of a reclaim of on average, 1,350 or
potentially, even more However, if just six in 10 people try to claim
and are successful, it will take the expected total PPI compensation
bill to 14 billion! Consumer Protection Services Ltd (CPS), a
successful PPI claims company in Wilmslow, has processed over
20,000 claims over its four years in the PPI claims industry In the
last four months (August "" November 2011) Consumer Protection
Services has recovered 3,191,934 in PPI refunds for 1107 clients!
With the average PPI refund at CPS being 2883, PPI refunds
obtained by CPS are considerably higher than the average As
mentioned above, 10 8 million people could be illegible for a PPI
refund! If you don"t want to miss out, and if you think you have been
miss-sold and would like more information, please contact Consumer
Protection Services on 01625 536 777 or use our alternative number
0845 602 6241 (Agents are available from 9 30am "" 8
00pm Monday "" Thursday; Friday"s 9 30am "" 7 30pm and Saturday
10am "" 2 30pm) Alternatively you can contact us by filling in a
contact form on our website, www consumerprotectionservices
co uk Many people are not even aware that they have been
miss-sold PPI And what is more "" to complicate matters "" each
lender who was responsible for miss-selling payment protection
insurance often used their own terminology for the policy; this may
be overlooked by people, meaning that even more people may miss
out on claiming! For example, sometimes the policy has been
referred to as, loan protection insurance, card protection, payment
protection cover, card protection plan, break plan etc The list is
endless Because Consumer Protection Services has been around
for over 4 years, we can help you assess whether or not you have
been miss-sold and we can advise you further on how you could look
to make a successful claim with us
 It takes about 5 minutes over the phone to determine if you have a
claim All ppi of our claims advisors are very friendly and will take as
long as necessary to assist you in your claim At Consumer
Protection Services we keep you updated from start to finish with
your PPI claims Making a claim is easy, and we have been
successful in making claims to an assortment of financial lenders,
credit card companies and institutions Don"t hesitate to give us a
call, we"ll be more than happy to help you Your PPI refund is just a
call away

Shared By:
Description: eager to put behind "" as currently, administration costs of 7 6billion,