Settlement values on the up…

Every month we process thousands of mis-sold PPI cases, so we’re pretty well placed to see what’s happening out there – and it’s great news for our clients, as the average settlement value is going up and up!

12 months ago the average pay out we secured for our clients for mis-sold PPI on a personal loan was £2173, whereas last month it was £3826. Now that’s a big old jump!

Likewise for mis-sold PPI on a credit card, the average pay out 12 months ago was £527. Now that figure is up to £1960. Again, a massive hike in the payments we’re securing for our clients.

The lenders are no longer trying to defend claims, so you’d think making a claim was simple, but whilst it should be a simple process, it’s never quite so simple. With so many claims in the system, the banks are inundated with claims, loosing track of which claims are at what process, and generally taking their time to respond. We spend every hour of the day on their backs, chasing each and every one of our claims through the process, and getting better and better results every time.

So with payment on the up, there’s never been a better time to get your claims sorted. You know what to do, and we’re ready to take the hard work out of the process for you!

More than £140,000 reclaimed for one PPI client

Our PPI team were very pleased to call one of our clients and confirm what we believe to be the largest ever PPI settlement in the UK – a whopping £142,000 and some change…. It’s a life changing amount of money, which will be happily received by a really fantastic lady from Northamptonshire. And it comes at a perfect time, just as this particular lady enters retirement. We hope she enjoys every penny of it.

Of course, we’re delighted to have made history with such a record settlement, and credit to Hamish Richmond and his team who worked tirelessly to get this case settled. What really boosted the value of the settlement was the age of the PPI claim. You see when we get you a settlement, we make sure it includes interest on the value of the settlement, dated back to the time when the PPI premiums were paid. This means you get back the same amount you would have had if you’d paid that dodgy PPI premium into a bank or building society – the principle is that you have to be put back into the same financial position you would have been in had you not paid out for a mis-sold PPI policy in the first place.

Now most lenders will try to get away with only going back 6 years, as they do not have to keep records for any longer than that. However for the monster payout above, Hamish and his team argued successfully it could be proven that the claim pre-dated this 6 year rule and so the payment and critically the interest was back dated for many more than the standard 6 years. It just goes to show what can be achieved when you do not take no for an answer.

If you think you may have a claim, and you’d like Hamish sticking it to the lenders, just go to our website and start your claim. We’ll do the hard work and you can relax in the knowledge that we’ll be fighting as hard as possible to get you the best result possible.

Don’t take our word for it

We’ve been shouting from the rooftops about the scandal of mis-sold financial products, and the latest area to come to prominence for this is mis-sold mortgages.

Having the wrong mortgage can have a huge impact on the borrower – not just being given a mortgage you can’t afford which puts people in real financial difficulty, but also the emotional burden of worrying about the consequences of defaulting on the mortgage. No-one wants to live with that hanging over them, so there is a real concern that this area is investigated properly.

Watch the clip below from Channel 4 news and see for yourself…

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We’re Ashworth Law – a firm of solicitors in Harrogate, North Yorkshire. We’re growing rapidly and we’ve got a lot to say, and lots of great things to share, and we’ll be doing this through our blog. Keep up with all the latest news, views and opinions by following us. It’ll be worth it!

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