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Reclaim PPI On Personal Loans

Reclaim PPI On Personal Loans

The lending boom brought with it a chance for the UK’s banks, building societies and other credit providers to make monster profits from their customer base. Personal loans were easy to sell at the time, because this was a period in which obtaining credit was seen as a way of buying things right now, without having to save up for months or even years.

One quick call was all it took to get thousands of pounds transferred into your bank account within a day or two. After that, you could head off to the furniture stores, the car showrooms or even the travel agents. Buying now and paying later became the norm for millions of people, and in truth the lenders loved everything about it, especially the big fat PPI policy that was attached to the loan itself.

People in general weren’t used to having so much easy credit, so when they were offered an add-on that was purported to give them some form of protection, they usually snapped it up. We all know now, of course, that PPI was often of little or no use to the borrower, despite the fact that it cost a significant sum of money. We were paying for peace of mind that we simply didn’t get.

Lenders used ever more aggressive techniques to sell Payment Protection Insurance along with their personal loans. The rare customers that said they didn’t want PPI were often passed on to a branch manager or even an area manager for yet more of the hard sell, and in many cases they were soon signing on the dotted line just like everyone else.

PPI policies were enthusiastically sold to just about anyone

For the loan providers, that PPI policy brought in a tidy little sum of money each time. Sales teams rarely needed much in the way of training because policies were sold on a one size fits all model and the commissions were huge. Many banks and building societies evolved into hard-bitten, target-driven monsters that were unrecognisable from their former rather benevolent selves.

As more and more consumers sought personal loans to add to their previous borrowing, often to enable them to consolidate their existing debts, the income from PPI policies went through the roof. Looking back now, it seems the dreaded credit crunch that came along was somehow inevitable. Once that happened, millions of people were left with nothing but struggle.

The financial sector has had to set aside billions of pounds to pay compensation claims in relation to PPI, and we feel it’s quite right for them to do so. Banks, building societies and loan providers indulged in some extremely underhand tactics to push PPI policies on their customers, often without seeming to care whether the policies themselves were of any use at all.

The drive to earn more and more clouded their need to look after their customers’ interests. No wonder some of the more familiar names in high street banking have been castigated in the media and punished by the authorities. The PPI scandal was exactly that, a scandal of industrial proportions that should never have been allowed to happen at all.

Deadline day is coming soon, so let’s get moving on this

For anyone who’s been wondering whether to seek compensation or not, the time has come to make a decision. The PPI deadline day is fast approaching, and once it has come and gone it will be too late to do anything about it. The good news is that experienced, knowledgeable specialists can help to guide you through the initial process before mounting a robust and tenacious claim on your behalf.

Here at Beat the Banks, we’re proud of the fact that our team features several men and women with many years of working in the banking sector under their belts. We have seen first hand just how many once-trusted financial powerhouses made profits their number one priority, and in some cases how they’ve done all they could to avoid paying out as much as they should have.

If you had a personal loan in the 1980s, 1990s or 2000s, there’s a good chance that you had PPI as well. Those offering PPI with personal loans included famous high street names such as Barclays, NatWest, Lloyds, Abbey National, Halifax, Clydesdale and many, many more. At the time, it seemed everyone wanted to book a ticket for the gravy train that the mis-selling of Personal Protection Insurance offered.

Beat the Banks can help you finally achieve the justice you deserve. One call to 0800 193 1234 is all you need to get started, and we can take things from there. There isn’t much time left before deadline day, so make sure you call soon. We’re looking forward to hearing from you.

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  • Mrs C, Glasgow

    “From beginning to end, Beat the Banks have been very efficient. I am very pleased with the service from Jenna and the team. I am highly delighted and I have been recommending all of my friends.”

  • Shona, Dundee

    “Huge thank you to the team. After attempting to claim PPI myself and getting absolutely nowhere, I got Beat the Banks involved and ended up getting  £12,000. What a result. Beat the Banks made it so easy and were committed right to the end.”

  • Mr A McQuillian

    “From previous experience of PPI claim companies, I was a bit dubious if anyone could help me but I thought I would try Beat The Banks. To say I am pleased with the service and conclusion to my claim is an understatement. Beat the banks and my claim handler in particular handled all aspects of the claim from Clydesdale Bank with professionalism, courtesy, and efficiency to secure a positive result on my behalf. I would certainly recommend the services of Beat the Banks to anyone who thinks they have PPI claim, especially with the Clydesdale Bank.”

  • Mrs S, Falkirk

    “I was apprehensive about using a company to claim my PPI as I had previously responded to a “cold call” and was pestered with calls. I heard about Beat The Banks on a local radio station and because they were based in Scotland I felt comfortable approaching them. I have had a very positive experience with Beat The Banks. They are not pushy and answer any queries timeously. All the Agents I have spoken to were knowledgeable, polite and friendly. After the initial information gathering conversation, they understood my needs and just got on with my claim. No hassle. Even when it was clear that my claim was of a relatively low value they processed without delay. I would definitely recommend using Beat The Banks …. they put all the other companies out there to shame.”

  • T & A, Dundee

    “Down entirely to Mike’s hard work, we previously had a successful claim with Clydesdale Bank. Mike was convinced we had more loans with PPI and he was relentless in efforts to recover our paperwork from the bank. Finally, after many attempts, enough records were recovered to submit several claims. We have now received much more compensation, covering loans going back many, many years. If it had not been for Mike and the team at Beat the Banks this would never, ever have happened. Literally, all we did was sign our name and bank the cheque.”

  • Mrs S, Falkirk

    “I was apprehensive about using a company to claim my PPI as I had previously responded to a “cold call” and was pestered with calls. I heard about Beat The Banks on a local radio station and because they were based in Scotland I felt comfortable approaching them. I have had a very positive experience with Beat The Banks. They are not pushy and answer any queries timeously. All the Agents I have spoken to were knowledgeable, polite and friendly. After the initial information gathering conversation, they understood my needs and just got on with my claim. No hassle. Even when it was clear that my claim was of a relatively low value they processed without delay. I would definitely recommend using Beat The Banks …. they put all the other companies out there to shame.”

  • Mr & Mrs M, Shetland

    “We really appreciate the doggedness and professionalism of Jenna and the team at Beat the Banks. This is something we’d never have gotten round to doing and we’re so glad we went through the process with professionals as we’ve now had great results. Only positives have come from the experience.”

  • Mrs S, Falkirk

    “Excellent service so helpful, I received a substantial sum back that I had no idea I was due, thank you again to Beat The Banks especially to Gary who was so helpful and efficient in every way.”

  • Dave & Linda , Dundee

    “We had no paperwork but £52,500 reasons to say thank you, we are now living our Spanish dream! Exceptional service.”

  • Mr S, Dingwall

    “Have just found out I have won all my cases with the bank, going back many years and been awarded compensation of just over £15,000!”

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