MANCHESTER, England, November 23, 2011 /PRNewswire/ --
Britons who are considering making payment protection insurance (PPI) claims after being mis-sold the product should stick to their guns, despite banks missing an agreed deadline set out for dealing with the complaints.
That's according to Precision Claims - a firm that specialises in PPI, personal injury, clinical negligence and care home claims - which stated people should not be put off by the lack of action being taken on this issue by some financial institutions.
As reported by Money Mail, Lloyds TSB, Barclaycard, Firstplus and the Royal Bank of Scotland/NatWest have all admitted to violating a gentleman's agreement to supply customers with PPI compensation within 28 days of the claim being made.
Some Lloyds TSB customers who have been offered compensation have been made to wait for months for their money, the publication revealed.
The report noted that banks had "refused to deal" with millions of PPI claims in the first half of 2011, but were then forced to set aside vast amounts of compensation and work through the claims by the 31st August.
The reason for the complaints was that banks were found to have dishonestly sold as many as 16 million PPI policies to those who did not ask for it, did not need it or were not eligible for the product anyway.
Commenting on the news, Simon Thompson, Managing Director at Precision Claims, said, "Banks can't always have things their own way. They have cheated millions of people out of their money and it is disappointing to see that some haven't adhered to the 'gentleman's agreement' of rectifying the situation and paying people the money they are owed in a swift fashion.
"At Precision Claims, our worry is that people who were considering making a claim may now be dissuaded from doing so, as they may think it's a lot of hassle for potentially no reward - if banks continue to delay payment. However, if you have been mis-sold PPI, you deserve compensation for that. At Precision Claims, we do all the hard work for you, helping you claim the money you're entitled to with the minimum of fuss for you."
ABOUT PRECISION CLAIMS
Contact: Precision Claims Enquiries, 0844-704-1945
SOURCE Precision Claims