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MIS-SOLD PPI

If you have a loan you could be owed £1,000’s in compensation, Mis sold Insurance is the problem, you may not even know you have it; the seller may not even know that they mis sold it. The Citizens advice bureau describes it as a protection racket. Press here for .pdf of their mis sold ppi summary.

Which? said people were wasting their money buying any form of PPI policy. "Credit card PPI is a modern day snake oil - it's a useless product, expensive and poorly designed," said Doug Taylor of Which? "In this time of economic uncertainty, people are effectively throwing away £970 million each year, when they should be encouraged to seek independent financial advice about protecting their finances as a whole," he added.

This was rejected by the British Bankers Association (BBA), who said the insurance was a valuable "plan B". "Taking out PPI is not a condition for agreeing to provide the borrowing facility and people are free to shop around if they want to," a BBA spokesperson said.

We will access and where possible establish and formulate the precise technical reasons to support any claim you may have. We do not charge an upfront administration fee for this service

THE COMPETITION COMMISSIONER JOINS IN

The Competition Commission has criticised the Payment Protection Insurance (PPI) market after a flood of complaints of mis selling by consumers. It found that mis sold ppi is highly profitable for the seller and there is little if any competition between providers. The report also found that there is little scope for customers to search for alternatives and switch products. Separately, the Financial Services Authority is taking action against unfair practices by PPI providers.

PPI IS NOT CHEAP

PPI premiums as a proportion of the loan: cases reported by breaux 2009

DOES MIS SOLD PPI MEAN UNFAIR CREDIT AGREEMENT?

If you enter into a credit agreement today, you will receive unprecidented levels of protection from irresponsible lending practices thanks to the new unfair relationships provision. This change in the law was introduced because previous levels of protection were inadequate. It is fabulous news for consumers, Essentially it outlines the following argument:

"Any credit agreement can be regarded as unfair and therefore unenforceable by a judge"

This has changed the financial world forever. Take a moment to think about the implications... This could genuinely save you £1,000's in repayments.

Read more about Unfair Credit Agreemeent Audit products > Press