There are thousands of businesses that are owed payment protection insurance (PPI) compensation and don’t even know it. When starting out, many business owners take out loans to ensure they can quickly create their company and start turning a profit. As a precaution, many signed up for loan insurance, unaware they were being mis-sold PPI.
It is essential that small businesses make a PPI claim as soon as possible, as individuals and companies will only have until Spring 2018 to do so. Payment Protection Insurance is, without doubt, one of the biggest financial mis-selling scandals, and so people are legally entitled to receive compensation that is rightfully theirs. If you fail to make a PPI claim before 2018, you will no longer have the ability to investigate the claim or receive compensation.
Many people have claimed that PPI claims can be a bit of a lengthy process – which is why it pays to contact PPI claim company Stanton Fisher. The payment protection specialist can make the process stress-free and simple, as they’ll do the hard work for you. So, the money could be back in your bank in no time at all.
According to The Guardian, more than £20bn in compensation has been paid to over 10 million customers. However, there is still so much more compensation going unclaimed, and such little time to investigate if you have PPI. Whilst you might be putting PPI on the back burner, companies and individuals should act now to ensure they don’t miss out on the money.
The compensation can therefore be reinvested into a company, allowing your business to flourish in 2016 and beyond. If you have taken out any form of loan, mortgage or credit card insurance, it’s worthwhile to see if you have a claim. So much PPI is dependent on the small print of the PPI policy – which is often full of jargon that reads as though it’s been written to confuse the policyholder.
What you might not know is that some companies also add PPI automatically, and it’s up to the customer to opt out of the insurance. So you could have signed up for PPI and won’t even know it. If you believe a business did not make it clear that you were signing up for PPI, or if you felt pressured into taking out the compensation, contact a PPI company today to see how they can help.