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PPI High Court Decision To Be Announced Wednesday

In an announcement that has been awaited for some time by those consumers affected by the area of m“issold payment protection(missold payment protection)”:, it has been announced that the result of the recent high court battle between the Financial Services Authority and the British Bankers Association will be announced on Wednesday 19th April at 10am.

Since mid 2007, when the mis-selling of payment protection insurance were first made real public knowledge there has been a steady increase in the number of complaints that have been made by consumers, until the numbers of complaints had reached several million.

The dispute between the two organisations was first raised by the BBA, who objected to the ruling created by the Financial Services Authority that would require it’s members to pay back missold payment protection that had been issued prior to new standards issued regarding the issue at the beginning of this year.

The result of the issue will not only affect those who will be hoping to make claims for compensation following the ruling, but also those who had already made claims prior to the case going to the high court. Since it was confirmed that the dispute would take place, the majority of financial firms have refused to deal with PPI claims until the ruling has been released.

Current claims made by the banks have included the remarkable £4.4 billion figure quoted by many institutions as being the potential final total of compensation that will be required to be paid in compensation to consumers once the missold payment protection issue has concluded.

For more of the latest news from the world of PPI, and for news on how you could claim up to £25,000 in missold payment protection, visit Creditline Financial now by clicking the link here.

Posted by Shaun Edwards on 18 Apr 2011

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