Successful PPI Claim Rate have Increased in 2012

June 28, 2012 - PRLog -- Recent financial reports and figures illustrates that one out of five PPI claim case becomes successful. Last year financial reports shows that above 25,000 claim letters have been received by banks, lending agencies and FOS. This report clearly indicates that PPI have become most complained financial product ever. Such reports and mis selling of payment protection insurance plans have widely discouraged the selling of it. Apart from this court and FOS has passed special guidelines about selling of PPI plans which has also given a negative impact on the selling of PPI plans.

However, people who already facing problems of mis sold PPI(http://www.ppiclaims.uk.com/mis-sold-ppi/) have special provision to file claim for compensation of amount that was out while paying premiums of payment coverage plans. Most of the people who have mis sold PPI are even not aware of the fact that they are paying for PPI plan that is useless for them. This financial product was wrongly sold in last two decades along with loans, mortgages, store cards, credit cards and several others.

However, people are now aware of mis sold PPI plans. Those who think that they have purchased a PPI plan with misconceptions on it are entitled to file claims to get compensation for their losses. It is important to get complete knowledge on PPI claim process before filing it. Proper evidences, PPI calculations and documents will improve the chances of success.

However, in most cases financial ombudsman services has given its decision in favor of consumers. But still there are some cases that are considered as bogus by services. Approx. 6000 bogus PPI claim(http://www.ppiclaims.uk.com/) cases have been received by FOS. If you think that you are not sufficient to present proper evidences in your favor then you may take help of Payment protection insurance claim(http://www.ppiclaims.uk.com/payment-protection-insurance/) management firms. These firms are specialized in their field and complete the task in given timescale. Success rate with claim management firm is also admirable. However, financial reports and figures clearly shows that most of PPI claim cases gets success and victims are receiving their compensation for losses.