FSA to make banks dispatch correspondence to countless number of mis-sold affected individuals
Let us certainly not forget the facts……
• The FSA is financed by funds set aside by the money institutions!
• The banks are accountable for the entire globe been in financial crisis
• Not one senior individual at any financial institution has experienced any legal charges or jail sentences.
• PPI is a totally needless product in most instances applied on to loans, credit card or Mortgages that we did not want ask or need but finance companies made you feel we had to have it.
• In some cases the loan providers made more revenue off PPI than the actual finance.
• The money institutions lost in court whilst they have endeavored to wriggle out of having to pay back compensation by legal loopholes.
• Many loan institutes have already been penalized for inferior customer complaints managing.
How come do they always think we are idiotic?
Obviously if you heed to hype by so called specialists, apparently it is just so easy to do it all by yourself! The idea of course may possibly well not be further from the truth as banks just make it sometimes almost unlikely for everyday folk to make a claim. The system is and almost always has been established up for just one winner - The Banks themselves and also their greedy returns !
They are likely to give an individual the run about in most instances at every chance and hold out your claim for as long as they like despite the fact they are expected to consider with complaints in a set timescale.
They will most likely then shut down your claim despite having current reasons for been mis-sold this totally useless product.
This latest development by finance companies writing to clients, which appears helpful in principle will probably be even worse for customers engaged with lenders direct after past indications displays. They will mostly just do what they like (as they have always done) and operate their bully boy techniques on consumers who are at times too frightened or do not comprehend the legal, wraggle jangle words the banks send them to make a valid claim. I have lost count of the amount of complaints turned down by the banks we have ultimately had overturned in the customers benefit. Banks wish Claims Management Companies (CMC`s) would just go away so they do not have in effect to answer to anybody and desire to "self regulate" and make up their own legislation to service the elite.
I suppose in the end it comes down to consumer preference as we can all do most jobs personally such as decorating our bedrooms or gardening or even installing kitchens but rather choose to appoint the skills of a expert with detailed legal experience in this particular field. Why should complaints be any different?
The majority of CMC`s work diligently for their clients and act on a no-win-no-fee agreement. They take all the possibility of possibly providing months of work and never getting paid and having to negotiate with non-cooperative lenders making it hard. Our company already have had customers whom cannot state enough praise for our solutions and quite a few have even said what we have achieved for them has been life changing for them and their family units. They are very happy to pay a knowledgeable company to act on their behalf and think it is well deserving of not having to deal with the headache the finance companies make whenever making a claim.
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