There has been an increase in the amount of fraudulent payment protection insurance claims, according to Lloyds Banking Group.
The high street lender is claiming 25 per cent of claims received have not been mis sold payment protection insurance.
The London-based bank originally allocated £3.2bn to cover the cost of PPI redress. It was revealed this week that it has since increased this provision by a further £375m.
Whilst there will undoubtedly be a select number looking to capitalise on the nationwide mis selling scandal, the majority of claimants do have genuine grievances and it is vital they receive what is rightly theirs.
In many cases, customers were – and maybe still are – completely oblivious to even having a payment protection insurance policy as part of their credit agreement. This is because a common practice of PPI mis selling involved lenders automatically adding such a policy onto a loan or credit card without the knowledge of or consent from the client.
It is essential potential victims of PPI mis selling are not deterred from making a claim for fear of negative typecast.
By completing the PPI Return No Win No Fee Claim Form, we will be able to access your situation and determine whether you may have a claim for PPI compensation.