Why Is PPI Controversial ? Because the Banks new what they were doing
The problem with PPI is the way in which it was sold. In 2006 The Citizens Advice Bureau launched a super complaint branding the sale of PPI ‘the biggest protection racket of all time.’ As a result of this complaint, The Office of Fair Trading and The Financial Services Authority released reports expressing concern that many people may have been mis-sold ppi policies.
The reports opened the door for people who believe they have been Missold ppi to make a claim. In fact, the number of people making Payment Protection Insurance Claims has hit a record high as consumers turn on banks and demand their money back in the first quarter 2011 the financial ombudsman revealed they were getting 900 new complaints per day and it is expected to cost the financial services industry over £10 billion over the next 5 years.
My PPI Claims is here to help its clients at a reasonable cost so the client gets to see the real benefits of a successful claim unlike many other companies who charge large success fees. The Ombudsman has suggested they have over 100,000 in backlog cases as of May 2011 so ensure you select my ppi claims to deal with your complaint and help reduce your risk of joining the back of the Financial Ombudsman queue.