One of the biggest financial scandals of all times in the UK has been PPI mis-selling scandal and millions of people have suffered due to it. And, now the banks are suffering because of it. The banks have to pay an average sum of between 25,000 to 50,000 pounds per claim, which has so far cost banks around 560 million pounds, and as per the Financial Conduct Authority, over 200,000 claims are still pending to be processed, and many new filing is happening on everyday basis.
The people are hiring PPI Claim Company to take care of the filing process on their behalf, and individuals who want to file for the claim by themselves can do so as the process is fairly straight and sorted out. The individual claims can be calculated using PPI claim calculator.
This tool can be found online at many different sites and it takes into consideration the amount paid towards PPI premiums and the number of years it is paid for plus the interest amount is added over it to help decide the final estimate the banks are liable to pay to the customers. Here is why you should use PPI calculator and its uses –
Helps Save Time
PPI calculator would help you save a lot of time and ensure that you are able to invest that time somewhere else, and not get lost in calculation spanning through number of years.
Gives Approximate PPI Claim Amount In Minutes
Once you have fed the ppi calculator with all the details it requires, it would do the math and get you the approximate ppi refund amount within seconds. This saves you a lot of time, and also helps fasten the entire process of filing for claim.
Simple To Use
The ppi calculator is easy to use and even people who are not tech savvy can use it with ease.
Good For Individuals Processing Claims By Themselves
For people who are not hiring attorneys or PPI Claim Company to get them back the PPI refund amount and going through the process by themselves, PPI calculator can be very helpful, because it helps them understand the importance of the time and amount they have lost due to PPI within seconds.
The PPI calculator is one of the most important tools to use when you are thinking of filing for PPI claim refund. People who have no idea on how to go about it should use PPI claim calculator to get an idea of the amount they would be getting, which would work as a great motivator to make an effort to get it back from the bank. If you are busy or do not want to get involved, hiring a PPI claim company is also a good idea.