A report in the Metro today revelas that there are almost 11 million British Adults who are unsure if they were mis sold PPI.

£18.3bn of mis-sold PPI cash unclaimed as 11m still unaware

Customers are missing out on £18.3billion of compensation from mis-sold payment protection insurance, research out today reveals.

Almost 11million British adults are unsure if they are entitled to claim or if they have been a victim of PPI mis-selling, the report by claims company Emcas states.

With the average payout for a claim standing at £2,650, Britons could be depriving themselves of a substantial windfall.

David Walter, Emcas spokesman, said: ‘Our primary concern remains that victims of financial mis-selling reclaim what is rightfully theirs. The voice of consumers needs to be heard above that of the banks.

‘There are still significant sums of money due in compensation but 17 per cent of consumers aren’t sure if they are a victim of financial mis-selling.’

Emcas also warned that customers who are making claims are experiencing delays as banks refer more cases to the Financial Ombudsmen Service.

The study of 2,064 adults showed 31 per cent were confused whether they could make a claim or not while 22 per cent said they did not have enough time.

PPI was sold on a range of financial products such as loans, credit cards or mortgages as a means of covering monthly payments on credit agreements.

 

Full article: http://metro.co.uk/2013/04/03/18-3bn-of-mis-sold-ppi-cash-unclaimed-as-11m-still-unaware-3580063/

 

Maple Financial PPI Claims Service

We will work with you to ensure that you get the correct settlement or refund and any and all fair compensation that may be due to you as a result of PPI mis-selling. We will deal directly with your PPI provider, be it a bank or insurance company and neither we nor our specialist claims team will be fobbed off by them at any stage. If their offer is too low or derogatory and they won’t take us seriously we will challenge them on your behalf. Maple Leaf Financial will review your PPI Claim and will be happy to discuss your individual concerns and requirements : 0800 7747624

 

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Tim Capper

Bringing you financial news and information in plain english for Maple Leaf Financial. My aim is to help readers understand these often complex financial instruments.