When it comes to claiming back unfair Payment Protection Insurance (PPI) charges, there’s one thing you can guarantee your banks and lenders will do – drag their feet. In fact, some are so good at it, they may even have a textbook all about the best stalling tactics when it comes to paying out.
For us, it’s not a problem because we know how to manage the banks and make sure client claims are handled as quickly as possible. But for the individual who’s claiming their PPI payments back on their own, these tactics can have serious consequences.
Now, as usual, there’s a few high profile offenders when it comes to seemingly holding back or turning down mis-selling claims, these are: RBS, Northern Rock and Lloyds TSB. Recent figures showed that in most cases, most banks will pay out within six months, but customers of this trio generally have to wait over 12 months.
There’s around 35m PPI policies held in the UK and many of these are believed to have been mis-sold. With this in mind; RBS, Lloyds TSB and State-backed Northern Rock need to seriously consider playing ball and speeding up the process; because they’ll no doubt be seeing a lot more completed PPI claim forms coming through the H.O. letter box.
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