An interesting read in this week's Mail on Sunday tells us of the continuing, and ever growing numbers of complaints being made from consumers about their mis-sold PPI.
The article states "Banks are unfairly rejecting tens of thousands of payment protection insurance complaints without assessing the merits of each case, shocking new evidence reveals. In extreme examples seen by Financial Mail, some banks flatly deny that customers ever had PPI – even where they have proof.
Such customers either give up their complaints or take them to the Financial Ombudsman Service, where, inevitably, the bank is found at fault.
The PPI scandal goes back more than a decade, with policies being sold alongside most loans and many credit cards. It was supposed to cover monthly repayments if the borrower fell ill or lost their job.
The problem was that policies were in many cases unsuitable because the borrowers were self-employed, already out of work or unable to claim for another reason. The insurance was also hugely costly, in some cases doubling the loan cost, pushing some borrowers, who could only just manage their repayments in any case, into serious financial difficulty."
Go and have a read of the article and if you feel you may have been mis-sold PPI and need to claim, then give us a call, or come and apply on-line at our website.
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