PPI Claims Management report their biggest ever pay out

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Claims management service PPI Claims Management report that they achieved their biggest ever payment protection insurance claim pay out for one of their clients in October 2012.

The payment protection insurance claims are getting bigger as well as growing in number. It is important that people look into whether or not they have a mis-sold PPI policy which they are able to claim on.

On the 8th October 2012 PPI Claims Management announced that they had successful completed their biggest ever single payment protection insurance claim which had led to a pay out to the claimant of £11000.

PPI Claims Management worked with the claimant to retrieve money which was rightfully the claimants as well as the 8% compensation for the trouble which was caused by the scandal.

The payment protection insurance policy claim was made on a credit card and previous claims have shown that some of the highest pay outs have been from credit card PPI claims. This particular claimant also did not know that they had even been paying for the payment protection insurance policy until they were curious due to the amount of awareness that was being raised by the payment protection insurance scandal.

With £10 billion set to be the bill for this particular financial scandal £11,000 is just a drop in the ocean but it should encourage more people who have had a loan or credit card in the last 10 or more years to look through their old paperwork. Many who have done this then headed to a payment protection insurance claims management specialist to make mis-sold PPI claims have been pleasantly surprised in the process which got them their money back. There are still billions of pounds worth of payment protection insurance claims that need to be made by the general public who were mis-sold a PPI policy. As there were so many people who were not even aware that they were sold a policy this scandal may continue for several years whilst people make the discoveries.

Prior to the pay out announced today the previous record high was £9,500 and this was once again a claim made from PPI which was mis sold on a credit card. In addition to this there have been multiple claims to various lenders from one individual claimant. At the minute the record high for a total PPI claim across several policies and lenders is £15,000 which consisted of two credit card PPI policies and payment protection insurance added to a personal loan. In such claims all of the smaller pay outs add up to one potentially record breaking claim.

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Dr M Mansoor Siddique
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