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Archive for September, 2007

Consumers Reclaim Mis-sold PPI

Monday, September 17th, 2007

Following on from the bank charges scandal (which I think most people would have heard about by now), there is another consumer rebellion in the finance industry that I’ve noticed; mis-sold PPI reclaims. It seems a number of firms have been mis-selling the payment protection insurance (PPI) which is used to cover loans. The Citizens Advice Bureau noticed this some years ago, and published information on their concerns.

It’s taken a while but now the Financial Service Authority have looked into it and concurred with the Citizens Advice Bureau, seeting out a number of fines. This has prompted people to start reclaiming their mis-sold PPI from the companies responsible. Many industry analysts believe this mis-selling could be quite widespread and that, potentially, millions of people could have a valid claim.

Article written by Michael from PPI Reclaim Service.