Chances of Winning a PPI Claim Case – New Data Revealed

The Financial Ombudsmen Service in the UK has issued some startling data on the sheer scale of PPI claims in the UK. Did you know that there over five thousand new claims every week that cannot be resolved between the claimer and bank, loan company or mortgage provider.

chances of winning a ppi claimPart of the FSO job is to step in when consumers feel they are not being taken seriously or feel that their claims or not being dealt with in a timely manner. With nearly 62 per cent of cases being won by normal people up and down the UK it is no wonder that many more cases are now being brought to the attention of the FSO.

When the whole PPI scandal was just starting back in 2011 there were many complicated cases and as a result a he backlog grew to further ad to the frustrations. But new figures released by the FSO indicate that claims are being dealt with much faster – loan, credit card and mortgage policy holders can now expect a swifter resolution to their compensation claims.

2017 figures for the three months of Apr, May and June show that there were nearly 80 thousand cases being handled by the FSO alone, this of course it not the true amount as many cases will be straight forward with the banks paying directly to claims companies, solicitors and individuals.

What can you do if you are not happy with your current claim for PPI mis-selling? Firstly, read our guides or if you have access to a local Citizens Advice Bureau you could always ring them up and ask for help. The chances are, your PPI claim will pass without hitch it is only 10 per cent of claims that need to be passed on to the Financial Ombudsman.

The really difficult cases are usually handled by a senior financial ombudsman – Steve Townsley is one and openly admits that deciding some cases can be incredibly difficult but with over 4,000 staff to help the guys at the FSO are doing a great job in dealing with the many complaints they receive on a daily basis.

Remember, it is your right to claim for compensation because of the unacceptable behaviour by the money lenders; just be careful before you sign any written agreement with a PPI claims company that you have read the small print first.