Hope you all already know the circumstance; check your own credit card billing statement and together with the regular direct debit amount of money sits a small amount aiming to proceed without notice, it is generally a payment protection insurance.
Exactly where would this originate from, and also exactly what could it really perform in your case? Surely, you should have informedly chosen to carry it on whenever you took the credit card (or other financial product). This is why you might be wrongly made a decision. Try using a PPI calculator to check if you can be eligible for making a claim for a mis-sold payment protection. Continue reading
Payment Protection Insurance (PPI) is a product or service which is supposed to covers loan repayments in cases where you wouldn’t manage to pay back them (because of accidents, sickness or even losing the job). However, PPI been mis-sold by many banks, credit card and even loans companies due to massive bonuses offered to the employees offering it to consumers in the middle of the nineties to early on noughties (on special customers being told they needed to take out PPI to be able to protect their loan or credit card).
If you are one of many people that were mis-sold PPI, then you definitely include a right to claim back again the money which was falsely captured from you – which in some instances might be a large number of pounds. Continue reading
New research has shown that there are at least two million people still to make a legitimate PPI claim, many of which stand to reclaim thousands of pounds in compensation.
About 34m PPI policies have been sold since 2001. Around £17bn so far bas been set aside by the banks and building societies in compensation. The final bill for the banks is expected to top £20bn.
The Financial Ombudsman Service (FOS) is also expecting to tackle around 320,000 new Payment Protection Insurance (PPI) claims in 2014. In their 2014/15 plan the FOS indicated that they will tackle approximately 1.8 million front-line consumer queries.