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FOS Reports Upsurge in PPI Complaints
Page last updated Thursday, 20 September 2012
The Financial Ombudsman Service (FOS) has reported today an upsurge of fresh complaints about the mis-selling of payment protection insurance (PPI) as 135,170 new complaints were filed with them in the first half of this year, up by 27% on the previous six months.
Overall 71% of the PPI complaints that were dealt with by the FOS were upheld in favour of the customer, a far higher success rate than for other types of complaint.
Commenting on the complaint statistics released today, Natalie Ceeney, chief executive and chief ombudsman, said:
“The volume of PPI complaints doubled in the first half of 2012 with up to 1,500 new cases now arriving each day and our consumer front-line is busier than ever – taking over 3,000 calls on PPI a day and bringing much needed clarity to confused and bewildered consumers”.
What is Payment Protection Insurance PPI?
This is an insurance policy designed to cover the monthly payments if the policy holder becomes ill or is made redundant.
The term PPI is also used to describe other policies that you can buy separately to protect your debt repayments - but these are more properly called accident, sickness and unemployment (ASU) policies or income protection.
Thinking of claiming back mis-sold Payment Protection Insurance PPI?
You have two ways of doing this; DIY or employ a firm.
DIY
You can enter a claim by using our free templates;
- Letter 1 is to request your terms and conditions and more information on the policy.
- Letter 2 is our general letter in word format to demand a refund.
You will need to delete sections that do not apply to you; you will also need to add some personal details.
You will find the template letters at the bottom of this page.
Employ a firm
If you feel that it is too difficult to claim yourself or are unsure how to work out the interest you can add to the claim then we can help.
We have made an arrangement with a firm that will help consumers claim back not only their payments but interest as well! This will apply when it has been proven that you were mis-sold PPI.
This company has been researched by myself as offering a very professional service to any clients we may refer and works on a conditional fee basis so no payment needs to be submitted with your claim. You will be charged a fee if successful.
Need to know more?
I need help in claiming back my PPI
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Are you owed thousands of pounds in mis-sold Payment Protection Insurance (PPI)?
If so we can help you claim in two ways, either use;
-
our free DIY template letters, or
-
a firm to help you with a LOW FEE of 12% + vat
Our recommended firm will handle all the claim on a "No Win, No Fee" basis with a fee of 12% + vat, which is only payable if you have a successful claim.
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