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Posts Tagged ‘mis-sold ppi’

It is estimated 85% of customers take out loan protection insurance when purchasing a loan, credit card or a mortgage for redundancy insurance or critical illness cover. However, many customers have purchased loans without realising that payment protection is attached, or have been mis-sold credit cover with their loans, resulting in paying unnecessary insurance.

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Credit Issues continues its recent run of success in challenging credit card and personal loan balances through the mechanism of requesting “true copies” of the original credit agreements with lenders on behalf of its clients.

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Almost 1.3 million people mistakenly believed that taking out PPI would improve their chances of being approved for a credit card, according to new research carried out by Which?

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The Consumer Credit Act sets out very strict guidelines for the content and format of all Credit Card, Loan and other Financial Agreements, that must be followed by all Lenders in this Country. Write Off Debt under the Consumer Credit Act.

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Consumers have been urged not to take out payment protection insurance (PPI) on credit cards, after research found that millions of people mistakenly believe it will improve their chances of being approved for credit.

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PPI for credit cards costs customers nearly £1bn a year says Which?

Many people are still being misled into buying payment protection insurance (PPI) to cover their credit card payments, Which? claims.

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The Financial Services Ombudsman has undertaken detailed investigations into the Mis-selling of PPI policies. There are various companies who have been fined.

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Payment Protection Insurance Mis-Selling and Unenforceable Loans are becoming increasingly common with the issues we all face with the credit crunch.

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Alliance & Leicester has been fined £7m and agreed to pay redress to customers for PPI misselling.

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