PPI is a highly controversial financial product that has been thrown from pillar to post in recent years, many hate it, others love it but what we know is that there is not enough transparency in the market. There is a lot of information out there but many do not provide details or information that helps the end customer so we decided to do something about it and here we are.
PPI statistics can be very confusing, one minute the lenders and banks are being hounded by the press and governing bodies in the UK and ordered to refund customers as soon as possible. The next moment they are contacting customers direct and launching attacks on PPI claims companies and attempting to cut them out of the loop, this is not because all claims companies are bad or that there is anything wrong with the services they offer its becuase the banks and lenders will save thousands per customer by doing so. This is a great example of why there should be more information about PPI, potential claimants deserve to understand the market they are getting into and the politics that are at work.
For example a recent customer of ours would have recieved a compensation total of £6500 by going direct to his bank, but using us he was refunded over £23,000 because we can claim back all the interest and compensation charges on that amount. Yes he was charged 20% on a no win no fee basis but wouldn't you rather have 80% of £23k than 100% of £6500?
So anyway, here is an infographic shedding lots of light on PPI in one place, feel free to use it on your blogs/websites or forums but please be kind enough to referance it back to this page.