Posts Tagged ‘ ppi news ’

Payment protection insurance (PPI) is essentially a standalone policy that is handed out to you when you take a loan or credit card with a financial institution. The main function of this policy is to cover your monthly credit card or loan repayments if you suddenly lose your job, become ill or suffer an...
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However, the FSCS is hopeful that PPI claims will increase drastically in the coming months and also roll over to 2011. This leads us to believe that more decisions will be issued by the Financial Services Compensation Scheme next year. Chief Executive Loretta Minghella has maintained: “The FSCS will continue playing a valuable role in...
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The Competition Commission revealed in 2008 that the PPI market is being overcharged by £1.4bn per year. Since there is a distinct lack of competition in the areas of PPI, it said there is a clear lack of options for the end-customer. The FSA had earlier published several reports on the PPI market while several...
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In October 2006 the Office of Fair Trading (OFT) estimated there was currently 20 million PPI policies in force, with a further seven million being sold each year. Profits on these policies are believed to be in the region of £5bn, not an insignificant amount. Statistically only 20% of the capital collected in premiums is...
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In a recent survey carried out by the FSA, 13% of people believed having PPI on their credit card was compulsory or that their application was more likely to be accepted if they had PPI to back them up. The Competition Commission believes that only 11% of PPI claims on credit cards are actually paid...
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Payment Protection Insurance (PPI) may not be a familiar to you by its name but chances are that to some stage you have spent money in order to fund it.  It is also known as Credit Protection Insurance and Loan Repayment Insurance.  However it is not to be confused with Income Protection or Credit...
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The Payment Protection Insurance market is full of intriogue and tales of mis-sold PPI policies which have left customers in the lurch. But now the consumer can seek advice from the Financial Services Authority (FSA). Information, data, tables and examples are now available on the FSA website to help consumers compare the options open to...
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Payment Protection Insurance may not be familiar by name but is more than possible that you have at some stage paid for it.  PPI for short, it is also known as Credit Protection Insurance and Loan Repayment Insurance. It is specifically meant to make provisions for an outstanding debt on a loan or overdraft and...
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PPI Solicitors are now much in demand as they are eminently qualified when it comes to making sure all arrangements are made so that loan repayments can be made on time. Failure to do so could result in foreclosure on home or repossession of car, for example. Credit history can also take a beating...
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As a consumer, you have to be aware of Payment Protection Insurance (PPI) or PPI claims. If not you should be because they have come to the fore recently and have been very much in the news, and not just in the financial pages.  People are scrambling to get their money back and...
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