(PRWEB) September 21, 2012
After the news announced this past week from the Financial Services Authority showed that the payment protection insurance claims scandal has now reached a massive bill of £5.4billion since January 2011 it therefore comes as no surprise that the PPI Claims Advice website at http://www.ppiclaimsadvice.org/ reported a large boom in the number of PPI claims enquiries and successful claims between June 2012 and August 2012.
The number of successful payment protection insurance claims has risen month on month and when compared to the claims figures from the same period from 2011 a 60% increase was discovered. With successful claims being made each month and the figures continually growing a larger increase is predicted for the same period in 2013. Interest and awareness is continually rising in regards to payment protection insurance claims especially as each month new scandal regarding the industry, the figures involved or the claims process is uncovered.
When it comes to the enquiries received through the PPI Claims Advice website each month from June to September seen a minimum of a 12% increase. As a result of this the number of claims also increased by 5%. The large growth in enquiries compared to the figures of actual claims being made is expected to be a result of many potential customers looking for further information before they go ahead and start the payment protection insurance claims process.
The figures are set to rise once again especially over the next three months and beyond however it is also important to note that the Financial Services Authority are looking to clamp down on the number of bogus PPI claims which have also been growing as of late. This is due to the large number of wrongful claims which are being made in general over the whole industry by those who don’t even hold or never did hold a payment protection insurance policy.
PPI Claims Advice are working towards new systems which will ensure that complaints to the banks and lenders as well as new claims are all handled quicker, speeding up the whole process for all parties that are involved. As a first step PPI Claims Advice are thoroughly researching claims every step of the way and this has even led to a significant number of people finding out they have further payment protection insurance policies which they did not know about. This background research in itself is helping to increase the number of successful mis sold PPI claims that are being made.