San Fransisco, CA -- (SBWIRE) -- 07/03/2012 -- The financial industry in the UK has witnessed an interesting development that is occurring not among big banks but instead between average people with bank accounts. In the last year £250m has been loaned through peer-to-peer lenders. That is the largest amount ever recorded, which demonstrates that this lending method is set to rival traditional banking products. The increase in peer-to-peer lending is, in part, down to the rise in the average UK savings account balance due to savers receiving PPI payouts.
PPI payouts can be claimed by anyone who signed a loan agreement with a bank that was practising the fraudulent sale of payment protection insurance. The Financial Services Authority has decided that many banks were mis-selling payment protection insurance, and it is now requiring banks to compensate borrowers who were affected. Many borrowers signed loan contracts agreeing to PPI without even knowing it, and now they can submit claims in order to be compensated for the banks’ fraudulent practice.
PPI claims are making headlines, and there is one resource that many people are consulting to get the latest information on this complex topic. That website is called PPIClaimsCo.org.
PPIClaimsCo.org breaks down the issue of mis-sold PPI: “Basically, if you have taken out a loan or any credit agreement — including a mortgage — in recent years you are likely to have been paying into a PPI policy, and you may be entitled to reclaim PPI charges as a result. If you believe you have been mis-sold PPI and want to reclaim PPI charges you should get in touch with a solicitor who has experience in the field.”
There are still numerous individuals out there who do not know that they have the right to claim PPI payouts. Those who think that they may be able to claim compensation can visit PPIClaimsCo.org to find out more about PPI payoffs and how they can receive them.
PPI claims payouts boost savings, and PPIClaimsCo.org is helping many people to get payouts that they can add to their savings accounts. Many people have already received thousands of pounds in compensation. One man, named William Robb, even received compensation totalling almost £53,000.
On the website, visitors can see a list of real people who have received significant payouts. They can also fill out a form in order to get more information about starting their own claims.
About PPIClaimsCo.org
PPIClaimsCo.org is a PPI claims specialist, helping people get back their money from mis-sold PPI policies. Our easy to use website is full of useful information about claiming and our freephone helpline 0800 111 6887 puts you in contact with our expert and friendly advisers.
For more information, please visit: http://www.ppiclaimsco.org