Brits urged to take action over mis-sold PPI
Britons who suspect that they have been mis-sold payment protection insurance (PPI) should act now to claim compensation, a consumer magazine has advised. According to new research conducted by Which?, over the last five years up to two million people who have been sold the cover are likely to find they will not be able to make a claim. This is because they fall foul of exclusions stipulated within the policies. Doug Taylor, personal finance campaigner at Which?, urged those who feel they may have been affected to act now. He advised: "If you have a loan and think you might have been mis-sold PPI, now's the time to fight back. Compensation could be just a letter away."We've always known that people were being mis-sold PPI, but we were still amazed to discover the scale of it. It appears that salespeople are chasing their commissions, their bosses are chasing profits. Where's the sense of responsibility to the customer?"
Share this..
Related stories
UK government defends increase in student fees
For a government which has supposedly put education at the top of its list of things to do in the UK, the ever-increasing cost of student education has become a serious issue within the UK. There have been a number of large student rallies announced as they try to put pressure on the government to reduce what in many cases can be a toll approaching £30,000 which needs to paid back in due course.<...
Read MoreLatvia on the verge of financial collapse
In a worrying development it has been revealed that a $100 million auction of short-term government debt failed to attract any bidders in Latvia today placing the country on the verge of financial collapse. While to many people Latvia may be irrelevant to their own local economies it is the potential knock-on effect to confidence, investors and surrounding countries which will have the biggest imp...
Read MoreEven the doorstep lenders are suffering!
Markets have today been rocked by news that London Scottish Bank, one of the so-called doorstep lenders in the UK, has gone into administration after failing to raise sufficient finance to keep the business going. However, the Treasury has stepped in to confirm that all banking deposits with the group will be honoured even if they exceed the £50,000 compensation limit set by the financial service...
Read MoreStandard Life shareholders set for £1.75bn windfall
04/09/2014 Standard Life shareholders are set to receive a share of a £1.75bn windfall, after the insurance and investments company sold the Canadian side of its business to Manulife. The sale of assets will mean that Standard Life will no longer retain their insurance and investments business within Canada. However, they will still work with Manulife to sell their products in Canada, the U...
Read MoreUK banks to trial living wills
A small selection of UK banks will this year start trials of so-called "living wills" which have been encouraged by the Financial Services Authority (FSA) in the event of a collapse of a banking institution. In simple terms these so-called living wills will allow regulators to come in and have ready made plans to wind down the operation, exposing every nook and cranny and investment operation in a...
Read More