A major news story has just been released on the BBC website where an investigation has revealed that the banks and other finance institutions are going to have to open up to 2.5 million cases of settled PPI cases which beggars the question: could I claim extra compensation from an existing PPI claim?
This staggering story will surely set the PPI claims company hotlines pulsing with anticipation as UK consumers will be looking at their own documentation to see if they can reopen there case and be awarded an extra pay-out.
So what should you do if you think you could eligible for an extra payout? The FCA has stated that they will be specifically looking at PPI cases between 2012 and 2013 but who knows how far back this investigation could lead and the best advice is to contact the bank where you took out the financial agreement in the first place.
If you aim is to claim extra compensation from an existing ppi claim and have no luck with this. You can alternatively, either contact the FCA direct on their website or use a third party claim company to fight your case for you. In June, 2017 figures reveal that over £490 million pounds was successfully claimed back by UK citizens. Over 15 billion pounds in total making this one of the biggest scandals in UK financial history.
If the banks are to finally overcome all the claims from mis sold PPI then this round of compensation claims must be dealt with fairly – why? Because there is serious trust issues that must be earned back. For many people living in the UK the banks, building societies and loan companies have been totally unscrupulous in the way that they have handled the whole matter.
Update on: Claim Extra Compensation from an Existing PPI Claim
** Update** The FCA has issued a press release stating that they have written to over 3 million people who could be entitled to further money. Check your letterboxes over the next few weeks to see if you are eligible.
High street banks and building societies such as the Halifax, Barclays, TSB, HSBC, Royal bank of Scotland and Nationwide have already paid out hundreds of millions of pounds and the FCA are determined that people should get the right compensation.
What are your chances of winning a big payout? Well did you know that nearly 75% of cases are won in favour of the claimer? The FCA hope to have a quieter time in 2015 due to the improvements in the way that claims are now being handled.
Be careful if you decide to use claims company like “Have I got PPI” or haveigotppi.com which is advertised heavily on the radio. Check to see what fees they charge and also how quickly you receive your money after a successful claim.