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.
This is relating to payment to people who have successfully won their cases against the Co. Operative bank. Find out more by reading this guide on how to secure a Co Op Bank PPI claim.
In total, over 1,500 Co-op PPI claims had been frozen while the company was investigating the claim. 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 Co Op then you have the right to claim compensation. Join the other thousands of people have been able win sizable cash amounts from banks and building societies. They were charged extra for mis-sold insurance policies that were never needed or added without the consumers consent.
Co Op PPI Claim – How to get started
This has been a trend throughout the whole Co Op PPI claim saga. Thousands of people are now winning back millions of pounds. If you think that could be entitled to cash settlement then you need to check your Cooperative Bank paperwork. 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. You should take professional advice on the best way forward in claiming back money from the Co-op.
There are basically two choices available to you, the first being what is known as a DIY PPI claim.
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.
Co Op Bank PPI Address to write:
For a manual application you should send your letter too:
- The Co‑operative Bank
- PPI Operations
- 1 Balloon Street
- Manchester M60 4EP
If you want to use a company to claim back from the Co Op then be careful.
Common sense tells us that 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.
Therefore, 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 their prices suit your own circumstance. Above all, This would be your best chance in winning a Co Op PPI claim.