|
Unfortunately, there is a growing amount of evidence to suggest that the mis-sale of Payment Protection Insurance is rife across the UK 's financial sector. This has acted to generate vast profits for those involved at the expense of the unsuspecting consumer.
The sale of Payment Protection Insurance (PPI) is currently the subject of separate investigations by both the Competition Commission and the Financial Services Authority (FSA). As part of their investigations, the FSA have recently fined a number of financial institutions, including Capital One, GE Capital Money and Loans.co.uk Limited for failings identified within their respective sales practices of PPI.
Whilst there are many possible grounds of mis-sale, most cases can be categorised into one of the following groupings:
• PPI policies that have been sold to customers, who are actually ineligible to claim payment benefit due to their employment status.
• PPI policies that have been sold without the policyholder being informed of the policy exclusions such as an inability to claim for pre-existing medical conditions, backache or stress.
• Sales where PPI was automatically included within the credit application, without the customer being offered a choice to decline the insurance.
• Sales where customers that were told that PPI was a compulsory condition of a credit application.
• Cases where customers were not informed that they could obtain alternative PPI coverage elsewhere.
In addition to the most common points of mis-sale highlighted above, there are many other reasons why your PPI may have been mis-sold. As such, we would urge you to request a Claim Form in order for us to complete a Free Assessment of your case.
|
