Reclaiming PPI mis-sellings.
If you were mis-sold a PPI insurance policy, reclaiming PPI claim s is a process of being reimbursed for payments on a mis-sold PPI policy. Due to a judicial hearing earlier in 2011, in which the higher courts found banks guilty of mis-selling PPI insurance to consumers, these banks have been ordered to reimburse their customers who had PPI insurance added to their bank loans.
Reclaiming PPI mis-sold payments made is as simple as filing a claim on the consumer’s behalf.
For the millions of individuals who filed a claim earlier this year, and their claims were put on hold due to the hearings, these payments are being reimbursed first.However, the FOS and FSA are encouraging all consumers, who have been mis-sold PPI insurance from their banks, to file a claim.
Banks are currently reimbursing consumers, and since so many claims have been made, were given an extension (typically 8 weeks, extension gives banks 16 weeks to pay) on claims which have been filed, and were put on hold. If you file your claim now, the banks only have the normal 8 week period to make the reimbursement. If you have been mis-sold on a policy, reclaiming PPI is as easy as filing a claim.
