Our Principal PPI Claims Solicitor Ronnie Hutcheon says that whilst he welcomes consumers claiming back their PPI claims themselves, he does mention a word of caution about the possible under settlements of PPI claims. Mr Ronnie Hutcheon says:-
“ I am still taken by surprise how lenders treat borrowers and Solicitors with PPI claims. I often get lenders wishing to deal with our clients direct and by passing their chosen professional advisor. In one case, our client was sold a PPI policy worth over £15,000. The claim was denied by the Lender and the matter is with the Ombudsman pending possible court action. However the lender decided to call our clients to make an offer as a goodwill gesture. They offered a nominal £1000, take it or leave it. My client was unhappy and upset and contacted me. If this is how some lenders deal with Solicitors, it begs the question how fairly they are treating borrowers without professional representation.”
It is all very well the Financial Ombudsman and others saying that they should take the PPI claim on themselves but for many, borrowers who were mis-sold PPI are not always able to make a PPI claim for various reasons. When the lender deals with the borrower direct, who is to say that what they offer is the full and correct amount? How does the borrow know unless they are particularly informed about their full losses, past, present and future? To be mis-sold PPI in the first place only be short-changed when making a PPI claim is simply rubbing salt into the wound.
