Donít Go it Alone When Claiming Back PPI, Says Precision Claims
British consumers hoping to claim back payment protection insurance (PPI) in the near future have been advised to seek the help of a claims management company to avoid the stress of dealing with banks unsuccessfully.
According to recent reports, the Financial Ombudsman Service (FOS) expects a 14% increase in the number of PPI claims it takes on over the next financial year, due to customers becoming frustrated with financial institutions and insurers dragging their heels, or not awarding compensation when they feel it is due.
Over the last 12 months, the independent organisation, which aims to settle disputes between customers and providers of financial services, dealt with 145,000 mis-sold PPI claims, but believes it will have to get involved with as many as 165,000 in 2012/13.
Tony Boorman, principal ombudsman, stated: ďItís disappointing thereís little finality for significant numbers of people who are waiting for their bank or insurer to deal with a complaint. The delays and inconvenience this causes consumers means the ombudsman has to gear up for unprecedented demand and volatility.Ē
Commenting on the news, Simon Thompson, managing director at Precision Claims, said: "We know that the public can sometimes find it difficult, or even intimidating, to lodge a complaint with a big institution like a high street bank. And this can become even more difficult if their claim is ignored or dismissed when they deserve remuneration.
ďSeeking help from a claims management company, rather than going it alone, can take the stress out of claiming back PPI. At Precision Claims, we understand that you donít want to spend all your hard-earned free time chasing up complaints with banks. This is not an issue when you use a specialist claims firm, with our highly experienced experts communicating with corporations on your behalf and getting the result you want with the minimum of hassle to you.Ē
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- Simon Thompson
- Managing Director
- Precision Claims
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