The reason why so many people are claiming back ppi is because in May 2011 there was a judicial ruling which means that anyone who has been miss sold payment protection insurance is owed compensation
The actual process of making a ppi claim is really quite easy, all you really need to do is submit the information on the claim itself to a claims handler and they will do there rest of the work for you on your behalf
To submit to to a claims handler online you just need to visit a claims website and pass on your information to them, once they have your information they can then pursue your complaint for you, so that you can receive compensation if you are indeed owed compensation
Many ppi companies will cold call you and attempt to get you to make a claim with them, however these companies very often charge high fees for any services rendered, others charge upfront fees
Usually claims handlers will charge maybe 25%, however there are some companies out there, like the ppiclaimscenter.co.uk that will only charge you 15% on a no win no fee basis, always make sure whoever you claim with it is done on a no win no fee basis because there is no need to be taking on any financial risk when handling ppi compensation cases.
It is also possible to make a claim yourself, however this is not recommended because the banks can sometimes be more likely to reject a claim in the event that it is submitted by an individual as opposed to a claims company.
The judicial ruling really was a pivotal point for the banks because it meant that they had to pay out thousands of pounds to thousands of people all over the United Kingdom. The banks mistakes around the mis selling of ppi have cost them dearly in the long run and it is no surprise that there have been delays in repaying the compensation back to people in the United Kingdom
Online ppi complaints processing typically takes a day or two and then the claim is started, it is advised that you submit a claim soon to avoid any delays