It is often important to consider that the economy is directly affected when one factor in the equation becomes overwhelmed with too much exponents and clearly, this is the situation in the United Kingdom nowadays, particularly its economy. The UK’s economy is one that could have easily soared, if not for a few individual companies and financial institutions who made it like so.
Since 2007, the Financial Services Authority of the United Kingdom, a regulating body, discovered that banks all throughout the United Kingdom have mis sold PPI on virtually the entire population of the United Kingdom. Almost no loan, mortgage or credit card was spared by financial advisers.
In 2011, the High Court has deemed that all customers ineligible to claim for PPI because of its exclusions have the right to get their payments bank. But still, as of today, banks complain about reaching the red zone. Barclays has actually paid £2 billion for PPI claims. Lloyds, UK’s semi-nationalized bank, is the record holder of £4.3 billion for payment protection compensation and has an additional £700 million to address the situation.
Now imagine that money, at this time, on your hand. You could actually have helped reduce the damages of the financial crisis of 2007-2009 with that kind of money. As taxpayers, your money was used to bail out the same banks, who allegedly have already stolen the money you have in the first place.
This is why you must consider making a claim for mis sold PPI. On average, you’ve actually lost £2750 on a single insurance policy. What more if you have five or six? For any assistance, call on a reliable PPI Claims Company such as www.PPIClaimsCo.co to help you sort things out