With over millions of complaints coming in and still plenty more PPI claims left to do for unadvised UK nationals, the UK economy could suffer trouble if the banks couldn’t resolve consumer complaints in a span of five years. With the real economy having trouble finding financing with the £23 billion earmarked for PPI compensation, PPI claims have to stop soon. Here are three things we think everyone in the UK needs to do to ensure everyone gets their fair share before the entire financial fiasco ends.
Advertising Legitimate Methods to Reclaim PPI
PPI claims companies should not be the only ones raising their voices urging people to reclaim PPI. Awareness must be spread, even by news and media outlets. Proper advisories should also be given to help people avoid scams from rogue companies looking for illegal payouts from the PPI compensation package. In this way, cold calls could be rendered useless and every claim is resolved in a proper manner.
Banks Should Respect Customers
The reason why people turn to PPI claims companies such as HaveIGotPPI.org.uk is that banks unlawfully reject complaints with valid reasons. Refusal to deliver the proper compensation for customers delays the claims process; customers would head to the FOS, who is already swamped with complaints, to receive a fair call on their complaints.
News about bank PPI claim centres pushing down customer complaints have encouraged many to head to the FOS to get a fair judgment on their complaints. This causes delays, specifically because the requirements and evaluation are causing delays for consumers. A tighter regulation and streamlining of the bank claiming process should be spearheaded by officials.