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26
Jun 12

PPI Compensation Claims on the Rise

The recent ruling that customers can claim back payment protection insurance (PPI) charges has led to a steep rise in the numbers of consumers putting claims to the courts. Furthermore, it has also led to many bogus claims, with the Financial Ombudsman reporting almost 6,000 such examples in the past twelve months.

Such news is likely to cast a shadow on the fact that PPI compensation claims remain a basic right for all those who have been mis-sold such policies, but the public should not shy away from making a claim.

With almost 160,000 claims put to the Ombudsman in the year – an increase of over 50% on the previous twelve months – the figure for bogus claims is a very small percentage of the total, yet it has still raised concerns. Part of the problem is that many consumers are unable to remember if they had taken out PPI on former loans, and have simply put the claim to the Ombudsman in the hope they did.

The total amount that is likely to be paid out by the banks to genuine claimants is expected to be in excess of £9bn, a colossal amount of money that will certainly exert an effect on the banking industry. Meanwhile, the Financial Ombudsman has had to take on 500 new staff to help process the ever-rising number of claims. In addition, it has been revealed that 64% of claims have been successful in the past twelve months, an increase over the previous year’s figure of 51%.

Claims for mis-sold PPI will continue to rise as more people realise they have been paying into a worthless policy, and the number of claimants is expected to increase in the next year.

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19
Jun 12

“The Rocket” Not Guilty on All Drug Charges

Baseball legend Roger “The Rocket” Clemens was ‘not guilty’ on all the charges of the use of performance-enhancing drugs to gain and maintain his long time career in baseball. The Rocket is considered one of the best and one of the most decorated pitchers in the whole of the sport.

Roger Clemens, well-known as “The Rocket”, got his moniker during his heydays as a pitcher. Known for his fastballs, this pitching skill was retained even when he was in his late 40′s. He had won many awards for his baseball performance including seven Cy Young Awards.

The trial of Clemens lasted for 10 weeks. Jurors were brief and returned the verdict after a few hours. Clemens was first accused of using drugs to enhance his sports performance. Then, when he denied such accusations, he was accused of lying, which made the entire legal case longer. He was charged with two counts of perjury, three counts of making false statements and one count of obstructing Congress. The entire court case centered more on his denial about using such enhancement drugs

Clemens and his family shared their victory with their legal representatives. Clemens expresses that he put a lot of effort into his career.

The case of drug use began when Clemens’ strength coach, Brian McNamee, stated that he injected Clemens with enhancement drugs in 1998, 2000, and 2001. He also produced evidences, such as syringes, needles and other materials to prove that he did such to Clemens before a game. Eventually, prosecutors conceded that McNamee was a flawed man who might have manipulated evidences to shove guilt into Clemens.

Source: ABC News

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29
Mar 12

Reclaim Your Money By Filing PPI Claims

PPI, or commonly referred to as Payment Protection Insurance is an insurance product that is capable of covering an outstanding debt. It is essentially seen as a safety net as it enables to repay debt in cases where the debtor is unable to fulfill his monthly financial obligation due to accident, sickness, disability, employment or death. In any way that a PPI product is mis sold to you, thanks to lawful provisions regarding PPI claims as you can now file for refunds.

The very concept and purpose Of PPI is primarily not the issue at hand. What make it a controversial product are the practices that surround it leading for people to file PPI claim. Generally, PPI works by covering monthly repayments of the borrower. This really sounds idyllic but in reality anyone who has no regular earnings will soon realize that their claim is thrown out. However, you should know that PPI policy does not cover people who are out of work, self-employed or retired in the event of taking out a loan.

PPI Claims Companies

Essentially, most debtors claim to have taken mis sold PPI due to the high-pressure sales strategies enforced by lenders. Moreover, even some lenders tell their clients that taking on PPI will elevate the chances of having their loans approved. At some point, debtors are even told that PPI is a requirement. And at rare circumstances, PPI is already added on the loan without the debtor’s knowledge. These practices are primarily grounds for debtors to claim PPI refunds.

For most cases, mis sold PPI can be attributed to lack of information and inappropriate policy selling of your credits. Other possible grounds that can be a reason for you to file PPI claim are the following: if you have been directly pushed or forced to purchase PPI product upfront which can actually be paid monthly, if you had been sold with PPI even though your age does not qualify on its terms and conditions and you have not been informed that there are other available policy provider that could have been much cheaper. All these factors fall under mis sold PPI and if you believe you have been a victim of mis sold PPI then it is necessary to commence your PPI claim now.

If you believe you have been perpetrated by having a wrongly sold PPI in your account, before you jump on to the PPI claim bandwagon on one your credit agreements, it is very essential to know all the necessary information regarding this thread. If you work on your own and you are left uninformed, you might end up having your PPI claim longer than needed, not to mention varying stalling tactics that banks make. To make the work feather-like and easy, you can enlist a reputable mis sold PPI claims expert who’ll significantly take good care of the whole process and deal with banks and lenders on your behalf.