PPI Claims - Reclaim Mis-sold PPI
PPI Claims – Did you know you could shop around for PPI Insurance?
from writeoff-myloan.co.ukIn its report on the PPI market Defaqto reveals that too many customers are either unaware that they can shop around for PPI, or do not know where to go for alternative quotes.
The report predicts that it “is quite possible that the annual rate of complaints will run into the high thousands and possibly even tens of thousands” although the number of complaints is unlikely to top complaint received over endowments.
“Consumers are becoming more aware of the all the problems starting to surface in the PPI market,” says Brian Brown, the report author and Defaqto’s Head of Insurance.
Mr Brown went on to make the point that insurers and lenders should consider opening up their PPI policies to the customers of rivals. “For instance, there’s no reason why a customer buying a loan from one bank could not buy their associated PPI policy through a different bank,” he said.
The consequence of complaints about payment protection insurance is that more consumers will face increased costs as income and profits to both lenders and insurers generated from PPI products declines significantly in the coming years.
It is predicted that this will increase the price of unsecured loans, credit card rates and charges and could ultimately lead to the introduction of compulsory bank charges.
Have you ever been sold a Personal loan or Mortgage with PPI? If the answer is YES then you could get all your payments refunded + interest!
- If you were told the wrong thing
- If you were sold the wrong thing
- If you were told “Fully Covered Your Monthly Payments Are!”
- If the PPI was sold as condition of acceptance
- If the PPI product was in any way mis-represented
- If you were unemployed or self employed
- If you were retired or reaching retirement age
- If you were told payment protection insurance was compulsory
- If broker did not disclose the commissions due to him/Her
