Surge in Payment Protection Insurance Claims

Advice.org backs up these figures and most importantly shows that this is a booming market with no signs of slowing.
Enquiries on the site in the month of July 2012 had increased by 25% compared to the number of enquiries made in June 2012 and 35% compared to the numbers from May 2012 which is a huge month on month level of growth. Advice.org.

This information regarding the increase in claim enquiries for mis sold ppi is released just a little less than a week since two of the main high street banks announced that they were making moves to increase the amount of money which they have set aside for payment protection insurance claims. Lloyds TSB is one such bank who now has a £4.27 billion provision for PPI claims, an increase from the original £3.2 billion, this shows just how much the payment protection insurance claims are increasing at a rapid speed! In total £10 billion has been set aside to settle the PPI scandal, which is quickly reaching a point where it will be considered to be one of the biggest financial scandals ever.

There has also been a market wide increase in enquiries for those that did not have a payment protection insurance policy; this also costs the banks money. PPI Claims Advice aims to contribute towards the prevention of this by only taking clients that have a 100% chance of making a successful mis-sold payment protection insurance claim. Ultimately this will benefit all parties as well as the general economy.

The increase in consumer awareness and the relatively straightforward process when it comes to making a claim for mis-sold payment protection insurance could be attributed to the increase in claims enquiries. When the claims were first introduced many believed a long, complicated process was required to get their claim underway. Advice.org mean the whole process is a hands free and accessible procedure.

For the original version on PRWeb visit: http://www.prweb.com/releases/prwebmis-sold/ppi/prweb9762976.htm