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June 19, 2012

Banks to Contact Victims of PPI

Between 4 and 12 million customers could soon be receiving letters from their banks about the mis-sold Payment Protection Insurance (PPI) that they were sold.

The banks claim that they ‘systematically mis-sold’ PPI to a number of their customers and the Financial Services Authority (FSA) have now ordered the banks to write the letters in plain English and that they should let the customers know that they may have been mis-sold PPI, how they can go about trying to reclaim it and that there’s no need for the customer to use a claims management company to reclaim what they are owed.

All of these letters are said to be being sent out the customers in stages so as not to miss anyone out and to be a little more precise in ensuring everyone receives a letter.

It has also recently been revealed that an astonishing £1.9bn has been paid out in 2011 due to the mis-selling of PPI. According to reports though, there could still be a quite astronomical amount of £6bn to still be paid out to customers that have been mis-sold the insurance in previous years.

One reason banks are saying that their customers don’t need to get a claims Management Company involved is because of how lucrative a business it’s been for them.
All in all, there’s been around £50m claimed by these claims companies who have managed to get this figure back for their client’s claims.

If however, you don’t fancy trying to claim your money back through the bank then you should definitely pay a visit to a company who will be able to help you get back what you’re owed.

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May 24, 2012

Personal Injury Claims: How to Avoid The ‘Claims Cowboys’

Frequenting our television screens on a daily basis, we are all familiar with the scenes of the reconstructed fall followed by an presenter telling us about the sizeable cheque that the injured party received on a ‘no win no fee basis’. Said informant then encourages us to ring the number that appears on screen if we have been affected by a similar accident.

The advertisements make the process seem so simple and risk-free that it is no surprise that many people are left wondering what the catch is. It’s important to realise that if you have been injured as a result of an accident which was not your fault then you could be eligible for compensation.

However it is fundamental to appreciate that the process is unlikely to be as simple as ringing a phone number and consequently receiving a cheque in the post. With rising claims of ‘ambulance chasing’ salesmen approaching injured parties in hospitals making proposals of accident compensation claims, it is increasingly important that you make the right choices regarding your personal injury claim.

How do I know if my injury firm at legitimate?

In order to ensure that you receive the best support possible, it is important to ensure that the legal firm you choose to deal with are professional and experienced in dealing with personal injury claims.

Choosing the right solicitor can be a difficult task however it is an important one. A good solicitor should not be looking for quick sales instead they should be focussed on fully understanding your situation and working to ensure that you receive the compensation you deserve, both financially and medically.

Ensure that you are dealing with a qualified solicitor from a reputable legal firm who have a strong background in successful personal injury claims. Good personal injury firms tend to offer initial advice free on a no obligation basis to ascertain whether you have a potential claim. This could prove a good opportunity for you to raise any queries which you have.

Be wary if you are approached directly by salesmen after your injury. Do not feel obliged to discuss your situation with them. They may quote large sums that you could be rewarded however with personal injury claims, there is no way of telling exactly how much compensation that you could receive until a full investigation has been completed and liability has been accepted.

Who should I turn to for personal injury advice?

The few ‘claims cowboys’ out there should not be associated with the legitimate personal injury firms who have years of experience in offering claimants an honest and dedicated end-to-end service to help them get all the compensation that they deserve.

You should not feel pressured or rushed into anything that you do not want to do. Your personal injury solicitor should help ensure that you are informed and consulted every step of the process.

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