Protection Policy-holders Encouraged to Take No Win No Fee Action

<h1>Protection Policy-holders Encouraged to Take No Win No Fee Action</h1>Author: <a title="Carys Robshaw" href="http://www.articlesbase.com/authors/carys-robshaw/57757.htm">Carys Robshaw</a> HFC bank was fined £1.1 million by the FSA in January for failings in the way it sold cover. Law firm Clyde & Co is now planning to unite customers of the bank in a class action dispute on a no win, no fee basis. Clyde & co say that the average person who was sold payment protection insurance (PPI) by the bank, paid £2000 in premiums. If the bank were forced to repay those premiums the compensation bill could cost over £300 million. HFC is believed to have sold 163,000 policies without gathering sufficient information about the customers circumstances or taking into account whether a PPI was suitable. Clyde & co hope to gather about 500 people to take part in action, which would be on a no win no fee basis. A spokesperson from HFA denies knowledge of the claim and refuses to admit that PPIs were mis-sold saying that “so far we have not been contacted regarding any legal action and so we are unable to comment in any detail. "The original fine by the FSA in January was for deficiencies in procedures in our branches from January 2005 to May 2007, but there were no findings of mis-selling and there was no evidence that consumers had been disadvantaged. "However, we are working hand-in-hand with the FSA to ensure this is the case." Consumer group Which? recommend that if you have been mis sold a PPI that you should pursue the matter individually rather than through class action: “While we want to see more people claim back mis-sold PPI, it's hard to see the benefit of a class action as consumers can easily claim the money back themselves. “Processing your own claim is simple. If you think you've been mis-sold PPI you should write to your lender to claim the money back. “If you don't get a satisfactory response then you should take the matter to the Financial Ombudsman Service, which is free,” said Doug Taylor personal finance campaigns manager at Which?About the Author: Carys is an author of several articles pertaining to <a href="http://www.accidentsdirect.com/" title="No Win No Fee">No Win No Fee</a>, Compensation Claims, Personal Injury Claims and other legal articles.Article Source: <a href="http://www.articlesbase.com/">ArticlesBase.com</a> - <a href="http://www.articlesbase.com/personal-injury-articles/protection-policyholders-encouraged-to-take-no-win-no-fee-action-442083.html" title="Protection Policy-holders Encouraged to Take No Win No Fee Action">Protection Policy-holders Encouraged to Take No Win No Fee Action</a>

HFC bank was fined £1.1 million by the FSA in January for failings in the way it sold cover. Law firm Clyde & Co is now planning to unite customers of the bank in a class action dispute on a no win, no fee basis.

Clyde & co say that the average person who was sold payment protection insurance (PPI) by the bank, paid £2000 in premiums. If the bank were forced to repay those premiums the compensation bill could cost over £300 million.

HFC is believed to have sold 163,000 policies without gathering sufficient information about the customers circumstances or taking into account whether a PPI was suitable.

Clyde & co hope to gather about 500 people to take part in action, which would be on a no win no fee basis.

A spokesperson from HFA denies knowledge of the claim and refuses to admit that PPIs were mis-sold saying that “so far we have not been contacted regarding any legal action and so we are unable to comment in any detail.

"The original fine by the FSA in January was for deficiencies in procedures in our branches from January 2005 to May 2007, but there were no findings of mis-selling and there was no evidence that consumers had been disadvantaged.

"However, we are working hand-in-hand with the FSA to ensure this is the case."

Consumer group Which? recommend that if you have been mis sold a PPI that you should pursue the matter individually rather than through class action:

“While we want to see more people claim back mis-sold PPI, it's hard to see the benefit of a class action as consumers can easily claim the money back themselves.

“Processing your own claim is simple. If you think you've been mis-sold PPI you should write to your lender to claim the money back.

“If you don't get a satisfactory response then you should take the matter to the Financial Ombudsman Service, which is free,” said Doug Taylor personal finance campaigns manager at Which?

Carys is an author of several articles pertaining to No Win No Fee, Compensation Claims, Personal Injury Claims and other legal articles.

Rate this Article:

0 / 5 stars - 0 vote(s)

Re-Publish

Related Articles
Related Q&A

Article Source: http://www.articlesbase.com/personal-injury-articles/protection-policyholders-encouraged-to-take-no-win-no-fee-action-442083.html

Article Tags: Insurance, No Win No Fee, Compensation

Latest Personal Injury Articles
More from Carys Robshaw

To Get That Whiplash Claims Today- Is Easy Now!

By: Lindsay Nolan | 04/07/2009
Whiplash is an injury that occurs during a car accident. The sudden jerk of the vehicle makes your neck and head move forwards and backwards causing an extension in the neck muscles and tendons. Whiplash injury makes the victim in a lot of distress. Whiplash injuries can be claimed compensation. You can get that whiplash claims today. For this you need to contact a whiplash lawyer.

Personal Injury Attorneys - The Experts in Tort Law

By: Caitlina Fuller | 03/07/2009
A personal injury lawyer is an expert in Tort law. This means that they specialize in cases that pertain to injuries whether they harm an individual physically or emotionally.

Personal Injury Lawyers – Making the Right Choice

By: Caitlina Fuller | 03/07/2009
Personal injury lawyers are lawyers who will fight for your rights as a victim of negligence. Negligence on the part of a company or an individual can cause serious harm to you or a family member. If you have fallen victim you may want to seek representation from a law firm that specializes in injury cases.

Atomic Test Veterans Given The Go Ahead For Case

By: Arti | 03/07/2009
Veterans who had been affected by atomic bombs have been allowed to take their cases to court so they can receive compensation after their heath had been seriously affected.

Women May Need To Watch Their Step

By: Darren | 03/07/2009
A woman received a compensation sum after falling and injuring herself in a high street store. This comes after reports state that women are more likely to be injured in public than men.

Car Accident Information-What To Do In an Accident

By: sofie777 | 03/07/2009
Car accidents are a leading cause of unnecessary deaths and therefore the number one source of personal injury claims. Many of the accidents occur due to negligence on the part of one of the drivers involved.When a car accident is caused by another party's negligence, people who are harmed are often eligible for compensation for medical expenses, pain and suffering as well as other damages.

Falling Furniture Can Cause Severely Hurt Children

By: Joel Mclaughlin | 02/07/2009
Unknown to many is the fact that as flat-screen televisions become more popular in the United States, the number of accidents in which children are injured increases as well. This is because there have already been hundreds of cases reported in which children have been injured by flat-screen TV’s that have fallen from off the wall or the entertainment unit on which they sit.

Negligence

By: Nick Parkin | 02/07/2009
The legal definition of Negligence was first seen in English law with the case of Donoghue vs Stevenson. Negligence is described as an act or omission which results in damage to the claimant.

Travel to New York This Summer

By: Carys Robshaw | 23/06/2008 | Insurance
All eyes are on New York this week as the Sex and the City film premieres here in London.

New Ride Highlights Need for Travel Insurance

By: Carys Robshaw | 23/06/2008 | Insurance
A new ride has opened up at Universal’s Orlando Resort which the company hopes will attract many more tourists to visit their Florida theme park.

Middle Class Debt on the Rise

By: Carys Robshaw | 23/06/2008 | Debt Consolidation
Community Money Advice, a charity offering debt advice across the country has reported an 85% rise in the number of people seeking debt advice in the past year.

Insurance Needed as 1 Bike Stolen Every Minute

By: Carys Robshaw | 23/06/2008 | Insurance
Research has shown that almost half a million bicycles are stolen every year in the UK. That works out as one bicycles stolen every 65 seconds, almost once a minute.

Have Car Loans Been Lent Carelessly?

By: Carys Robshaw | 22/06/2008 | Loans
There has been much discussion over the free and accessible way in which we have been able to obtain credit for cars or other luxuries.

Gutierrez Was Offering the Couple $5,000 to Move Out

By: Carys Robshaw | 22/06/2008 | Mortgage
His business is earning him a pretty penny during the mortgage crunch and is attracting the attention of large investors, despite Gutierrez currently running his business from a small office with just himself and his wife as employees.

First Direct Clears Mortgage Backlog

By: Carys Robshaw | 22/06/2008 | Mortgage
First Direct withdrew from the market six weeks ago as it struggled to cope with soaring demand for its mortgages.

Fdic Offer Government Homeowner Loans

By: Carys Robshaw | 22/06/2008 | Mortgage
The credit crunch is hitting many homeowners both here and in the United States. Many have called for the government here in the United Kingdom to provide some sort of relief directly to homeowners rather than ploughing money into the banks.