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Letters, Texts and Emails Regarding PPI Compensation

Everyone at some point in the last few years will have received a text or email message telling them there is a wad of compensation cash with their name on it.

In most cases, these messages are unsolicited - they are a company simply fishing for business, using the possibility of gaining financially the hook with which to draw people in.

However, there may be cases where these communications are genuine but, it can be hard to tell the difference. If you have been contacted via text, email or letter regarding a possible PPI claim, take a closer look before you dismiss it. Here's what to look for…

What you need to know

Thousands of payment protection insurance (PPI) policies were mis-sold to customers across the country. There is now a concerted effort by the banks, lenders and other financial institutions to compensate customers who were wrongly sold the policy.

However, this compensation situation also gave rise to an industry within an industry. Claim management companies were set up by people to help those who needed it to get their money back from the banks. Some operate to a very high professional standard, such as Payment Protection Scotland, but others indulge in a practice that is not as high or professional.


One area that encouraged but discouraged people in equal measure what the advertising of some claim management companies. Some adverts are not only confusing, they are also mis-leading. As well as advertising in newspapers and on day time television, these companies also sent out texts to random people.

These texts told the person that they were guaranteed a claim and that the pot of money had already been identified; as a result, many people were given an erroneous figure.

Genuine or nor?

Here are a few pointers to consider if you receive a text or email message, as well as a letter in the post regarding a possible compensation for mis-sold PPI:

  • Your bank or lender may right to you but, you may not recognise the name of the bank and thus assume that it is not a genuine letter. However, bear in mind that some companies took over smaller ones, bought credit card companies and so on, hence don't dismiss it too soon. It may be worth looking in to further BUT, if the letter is not from a main stream lender, but a claim management company it is a marketing letter.
  • No bank or lender will text you
  • No bank or lender, as far as we are aware, have been sending customer's emails; our understanding is that banks have been told to send letters to customers.
  • No one can know how much you are entitled to without looking at your case in detail

Do you think you have a claim for PPI compensation? Why not find out more about making a claim by calling Payment Protection Scotland?

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