The banks have rejected a third of claims over the last nine months according to claims management company EMCAS. When a claim is rejected the customer has the right to take their claim to the Financial Ombudsman Service (FOS) who will settle the matter.
PPI complaints to FOS rose by 240% in 2012 to 355,263, with the vast influx leading to an increase in time for each claim to be settled.
There is also evidence to show that once a claim is rejected by a bank, some customers do not continue to FOS even though they may be entitled to compensation.
The research conducted by EMCAS showed that only six customers out of 31 who had their claim rejected by the bank took their claim to the Financial Ombudsman Service.
FOS is continuing to uphold a large amount of complaints in the customer's favour but the extra hassle of pursuing a claim is now putting customers off making a claim for money which is rightfully theirs.
Customers can continue to make a claim directly to their bank or lender but they also have the option of enlisting the services of a claims management company who will make the claim on their behalf.
ABC are a well-established claims management company who offer a face to face service to every client. Unlike most claims management companies who only send out a pack of paperwork to their clients, ABC will send an expert consultant to review each case.
This allows ABC to ensure that a client has a legitimate claim for mis sold PPI and also to gather and review any of the relevant, available paperwork. This personal touch by ABC also helps our clients to be better informed of the claims process. Once we have established whether you have grounds to make a claim we will take the claim forward and gather all of the necessary signitures from you for the paperwork.
If the claim is initially rejected by the bank or lender then ABC can escalate this to the Financial Ombudsman Service on the client's behalf – removing all of the hassle from the claims process.
ABC has now successfully claimed back over £20million for it's clients across the UK, but many more people are still able to make a claim. The banks have set aside £14billion to cover the cost of the PPI mis selling saga and this is a number which could rise further still.
PPI complaints to FOS rose by 240% in 2012 to 355,263, with the vast influx leading to an increase in time for each claim to be settled.
There is also evidence to show that once a claim is rejected by a bank, some customers do not continue to FOS even though they may be entitled to compensation.
The research conducted by EMCAS showed that only six customers out of 31 who had their claim rejected by the bank took their claim to the Financial Ombudsman Service.
FOS is continuing to uphold a large amount of complaints in the customer's favour but the extra hassle of pursuing a claim is now putting customers off making a claim for money which is rightfully theirs.
Customers can continue to make a claim directly to their bank or lender but they also have the option of enlisting the services of a claims management company who will make the claim on their behalf.
ABC are a well-established claims management company who offer a face to face service to every client. Unlike most claims management companies who only send out a pack of paperwork to their clients, ABC will send an expert consultant to review each case.
This allows ABC to ensure that a client has a legitimate claim for mis sold PPI and also to gather and review any of the relevant, available paperwork. This personal touch by ABC also helps our clients to be better informed of the claims process. Once we have established whether you have grounds to make a claim we will take the claim forward and gather all of the necessary signitures from you for the paperwork.
If the claim is initially rejected by the bank or lender then ABC can escalate this to the Financial Ombudsman Service on the client's behalf – removing all of the hassle from the claims process.
ABC has now successfully claimed back over £20million for it's clients across the UK, but many more people are still able to make a claim. The banks have set aside £14billion to cover the cost of the PPI mis selling saga and this is a number which could rise further still.