Co-op Bank PPI Claims
The Co-op Bank has been in trouble for delaying payments in relation to mis-sold PPI claims. The industry watchdog, FSA has fined the UK based bank over £100,000 in what they see as unnecessary delays concerning payment to people who have successfully won their cases against the Co-operative bank.
In total, over 1,500 Co-op PPI claims had been frozen while the company was investigating the claims but the FSA has ruled that compensation claims that had been won must be dealt with winning the strict rule guidelines and no the Co-op has been hit with a big fine.
If you have been mis-sold payment protection insurance from the Coop then you have the right to claim compensation and join the other thousands of people have been able win sizable cash amounts from banks and building societies who charged extra for mis-sold insurance policies that were never needed or added without the consumers consent.
This has been a trend throughout the whole ppi claim saga with thousands of people now winning back millions of pounds and if you think that could be entitles to a large cash settlement then you need to check your Cooperative Bank paperwork where the loan agreement should indicate any extra charges that were incurred.
Despite scare mongering amongst PPI claims companies, there is no time limit on claiming back PPI so you should take professional advice on the best way forward in claiming back money from the Co-op. You have two choices available to you, the first being what is known as a DIY PPI claim where you must compile a letter and send it off to the Co-op. We have included the Co-op Bank postal address for you on this web site. The benefits of claiming for yourself is that you will receive 100% of the compensation.
A good place to start is to use a PPI template letter that has all the necessary information needed for you, remember these companies are all too keen to delay these cases so make sure you have all required info in your letter to the Co-op. A lot of people chose to use a good PPI claims company to fight their case for them as they do not want the hassle or feel confident enough to construct a compelling case.
If you want to use a company to claim back from the Co-op then be careful as there are good and not so good companies who all charge in different ways. Some charge a percentage of your winning claim whilst others have a fixed fee, a good way to start is too look for some reviews on the internet for any company you see advertised on TV or radio.
Forums are good place to go but be careful as some forums are biased towards certain companies in return for commission payouts. Always visit a independent consumer web forum for impartial reviews on PPI companies.
There are some very good PPI companies that win cases every day for their clients, read their terms and decide if there prices suit your own circumstance.