Category: Reclaim PPI
Financial Ombudsman Report Record Number of PPI Cases
There has been a massive increase in disputes regarding Payment Protection Insurance (PPI) claims, the 40% increase has lead to highest level of claims ever reported. The Financial Ombudsman Service (FOS) resolved a total of 166,000 new claims in their last financial year, which ended March 2010. The level of new cases was up 46% [...]
Read moreLloyds cease to sell Payment Protection Insurance (PPI)
Lloyds Banking Group have withdrawn the sale of Payment Protection Insurance (PPI) across all of it’s products and brands. There will be no further PPI sales on mortgages, personal loans or credit cards for any of the following organisations: Bank of Scotland, Black Horse, Cheltenham & Gloucester, Halifax or Lloyds TSB. PPI is meant to [...]
Read moreMis-sold Payment Protection Insurance (PPI) time extension
The Financial Services Authority (FSA) have allowed an extension in the time frame for which customers may lodge a complaint about their Mis-Sold Payment Protection Insurance (PPI). This tempory ruling replaces the the 6 month time limit that was in place. The Financial Ombudsman Service (FOS) had confirmed this extension, stated that customers have until [...]
Read moreWhat is an unenforceable loan?
Do you have a finance agreement for up to £25,000 that started before April 2007? If so, there may be errors in it. It could be a personal loan, car finance, higher purchase agreement – basilcally anything that involves credit. Strict requirements for lenders were established by the Consumer Credit Act 1974, businesses such as banks [...]
Read moreWelsh based claims management firm under scrutiny
Over the past few years the banking industry has been chastised for mis-selling Payment Protection Insurance (PPI). They have sold PPI to borrowers that neither wanted or needed such a policy. Are borrowers who are attempting to reclaim much needed money losing out again? The Financial Ombudsman Service (FOS) released figures showing that in excess [...]
Read moreBanks avoiding Mis-Sold Payment Protection Insurance (PPI) claims
It has been reported that banks are still shying away from their customer obligations relating to Mis-Sold Payment Protection Insurance (PPI) claims against them. Consumers are being forced to claim through the Financial Ombudsman Service (FOS), having been ignored by their bank. FOS have stated that of the 1000 plus PPI complaints they receive per [...]
Read morePayment Protection Insurance (PPI) related fines for Car Dealers
The Financial Services Authority (FSA) have ‘cracked down’ on the mis-selling of Payment Protection Insurance (PPI), fining five car dealers £175,000 each. The car dealers were fined because of their failure to monitor and regulate the advice staff gave to customers, creating an ‘unacceptable risk’ that the PPI policies could be mis-sold. There have been [...]
Read morePayment Protection Insurance (PPI) Reclaim
This is a general overview of Payment Protection Insurance (PPI). PPI policies were traditionally sold with other financial products, such as: personal loans, car finance and credit cards. Such policies are meant to cover the cost of your finance agreement in the unfortunate event that you lose your income and ability to service your debt [...]
Read morePayment Protection Insurance (PPI) – Your say…
The Financial Services Authority (FSA) are actively ‘cracking down’ on firms which sell Payment Protection Insurance (PPI). PPI’s are designed to protect the policy holder should they lose their income, whether that be through ill health or unemployment. There are often many ‘hidden nasties’ within PPI terms and conditions which can make it very difficult [...]
Read moreBig Banks to Axe Payment Protection Insurance (PPI)?
Payment Protection Insurance’s (PPI) function is to provide financial assistance to borrowers which are unable to keep up with repayments on their financial commitments as a result of redundancy, ill health or perhaps an accident. PPI can cover various different product types, such as mortgage, personal loan, car finance or credit card. Banks and other [...]
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