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 →