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The Financial Ombudsman Service (FOS) has warned that the rate of Payment Protection Insurance (PPI) claims has climbed “steeply” to over 3,000 a week. The FOS explained in its most recent newsletter that while PPI complaints fell in the previous quarter to … Continue reading
Financial Ombudsman Service upholds nine out of ten PPI claims, with refund payments averaging £2,750. Hundreds of thousands of people have won refunds for mis-sold Payment Protection Insurance (PPI), with banks paying out £557m in the first six months of … Continue reading
While the United States struggles with its own financial woes in Congress and the money markets, the United Kingdomis dealing with problems of its own. The UKis dealing with a situation where PPI plans were mis-sold to borrowers who were … Continue reading
Payment Protection Insurance, or as it is known more commonly, PPI, was intended to cover loan repayments should you be unable to work as a result of injury, illness or loss of employment. Recently though it has been discovered that … Continue reading
Complaints about mis-sold Payment Protection Insurance (PPI) to the Financial Ombudsman Service averaged 900 a day in the first quarter of the financial year. The Service had its busiest quarter with more than 81,000 complaints. Tony Boorman, the principal ombudsman, … Continue reading