Latest News


PPI – Pick Pocket Industry

Pick pocketing is one of the oldest and most prevalent crimes around the world. A skilled pickpocket can steal your money without you even realising you’d been robbed. The similarities between the Pick Pocketing Industry (PPI), and the mis selling of Payment Protection Insurance (PPI) are quite uncanny. Both use techniques of distraction, sleight of hand, and misdirection. But there, the likeness ends. For one you will receive, when caught – the weight of the law - for the other – a nice fat bonus payment.

The scandal of the financial services industry mis-selling PPI is still an open wound, one that will take quite some time to heal. The fact banks and other providers are still dragging their heels with regard to repaying the tens of thousands of innocent customers due compensation, does nothing to help restore damaged confidence and trust in our financial institutions.

Thousands of reclaim cases are currently being processed thanks to a growing awareness surrounding the whole issue of PPI: it’s hardly been off our television screens for the last year or two – and - as a result of this publicity, people now have the facts;  now have greater resources with which to determine whether they have been mis sold a  policy.

Under specific circumstances, PPI has undoubted benefits; but it is not suitable for everyone. If you feel that you entered into PPI without all the facts, or have never questioned whether it was a necessary part of your repayment plan, then you may be entitled to make a claim. Thousands of consumers are only now discovering hidden bank charges that they have been paying on loan and mortgage policies: policies from which there is little chance they would ever be able claim payment on.  

If you have a loan, or have had one over the last few years, the chances are that you will be aware of payment protection insurance. In the past, banks were very keen to point out the benefits or necessity of taking out a PPI policy.

PPI can be quite complex, and is not a one-size-fits-all financial solution. Personal and financial protection policies often carry specific conditions and exemptions, and so should be studied carefully to determine eligibility rules and criteria. Did you know how these conditions applied to you when discussing and before agreeing on the policy? Many people did not, and that’s where they were let down. If any of this sounds familiar then it sounds like you need advice.

Banks should be offering financial advice that is in the customer’s best interest, not offering advice that benefits them. Mis-sold PPI delivered a massive blow to what was once perceived by many as an honourable and trustworthy industry.  The new PPI reforms will mean that providers will, in the future, face real competition for their products; where in the past there was very little, or none

Payment protection insurance and any new insurance products which may come onto the market will in future be closely monitored for compliance with new regulations, and to ensure they are fairly priced. Bankers and lenders will also have to ensure advisors involved in selling of insurance type products are adequately trained: in other words – they understand the product they are selling, how it works – recognise who is eligible, and who may not benefit from it.

With Christmas just around the corner, these payouts, and some run into tens of thousands of pounds – will be a lifeline for many cash-strapped families as cuts and unemployment begin to bite: surely, after the disgraceful way these lenders have behaved, you’d think they would try to make amends in some, small way: like make an effort to give these people their money in time for the festive season.

Not all PPI complaints will lead to a bank or lender offering compensation. However, if you’ve taken out a loan over the last 10 years you too could be entitled to compensation! Here at Consumer Finance Claims we look to recover the full cost of the policy plus interest if we believe that you can claim back PPI. Even if the loan is still running we can look to reduce your ongoing payments as part of our negotiations






Add your own comment to this article







Your comment has been submitted   (A moderator will approve this shortly).



< Click to view article archive


BulletpointsAverage claim value £2500

BulletpointsNo Win – No Fee* PPI Claims

BulletpointsNo Upfront Fee's

BulletpointsOn average our PPI claims take 12 weeks

BulletpointsCompetitive 20% inclusive of VAT Success Fee

BulletpointsProven track record* for all PPI claims


How much money could you be entitled to?
Make Your PPI Claim





















Next

< BACK





















Add another lender
Next

< BACK





















Add another lender
Next

< BACK





















Add another lender
Next

< BACK





















Add another lender
Next

< BACK





















Add another lender
Next

< BACK

















Next



< BACK













Congratulations! You're one step closer to receiving your compensation for mis–sold Payment Protection Insurance.


If all details look OK you will receive a Claim Pack through the post, usually within 48 hours. If there are any issues we need to discuss one of our advisors will call you.


Either way you need to return your Pack as quickly as possible to prevent any delays with your claim!