Improvements to PPI Complaints Procedure Announced

According to a recent news article the Financial Conduct Authority have announced that companies have been improving the way they handle Payment Protection Insurance (PPI) complaints.

Customer dissatisfaction remains high

However this news follows closely on the heels of reports that the number of complaints regarding Payment Protection Insurance remains at an all-time high, and customer discontent continues. Indeed the period from June 2013 until June this year represented the highest number of complaints registered in a 12 month period since records begun.

Furthermore complaints to the Financial Ombudsman Service from individuals dissatisfied with the response they received from their provider have now reached one million. This number equates to roughly a quarter of all rejected complaints, suggesting that a significant number of those whose PPI claims were initially rejected, may have actually had a legitimate claim.

Improvements being made

However there is evidence that improvements to the complaints procedure and how claims are handled are being made. For example the FCA announced that 3.2 million letters have been sent to people likely to have been mis sold PPI but who are yet to make a complaint, and a further 2 million such letter are expected to be issued in the coming weeks and months. As explained by Chief Executive Officer of the FCA Martin Wheatley, such policies comprise an essential part of helping foster a new attitude towards companies in the financial sector, helping to restore customer faith. Furthermore this is thought to be a positive step forward in demonstrating how PPI complaints can be managed effectively.

 

If you think you may have been mis sold PPI then here at Scottish Debt Help we can help ensure you get the compensation you deserve, as we are specialists when it comes to making PPI claims for people living in Scotland. We have extensive experience of helping claimants receive compensation for mis sold PPI and offer a comprehensive service so you can get all the help and advice you need. For more information please do not hesitate to contact us on 0800 011 2322 and one of our friendly team will be happy to help you with your enquiries.

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