On Wednesday (24/11/10), the Financial Services Authority (FSA) gave an official announcement that the British Bankers Association (BBA) had ‘mis-interpreted’ part of the rule changes, as the Open Letter was meant to be advice to the banks and not a substitute for a full investigation. What impact this has is uncertain, as Eric Leenders (Head of the BBA) has confirmed that they still have some uncertainties, but that they are seeking the advice of their advisors.
For those of you who are first time visitors to our site, I’m Gemma and I manage the PPI mis selling investigation team at Gladstone Brookes. Over the last few weeks we have been trawling though just a few of the vast number of reasons why so many of us have cause to complain when it comes to the sale of Payment Protection Insurance.
Previous blog posts on mis selling PPI include an exposé on the single premium policy and ineligibility of unemployed, students and the retired. We will today, focus on why so many self-employed, agency workers and part-time workers find they are unable to benefit from PPI when they come to use their policies.
Welcome to the Friday round-up, where we trawl through the week’s news and current events, picking out stories for you!
Figures from the Financial Ombudsman Service state that 45% of their workload is dedicated to Payment Protection Insurance (PPI) claims, heavily outweighing complaints about issues such as current accounts, credit cards and mortgages.
The British Bankers Authority (BBA) is to contest the Financial Services Authority (FSA) and their judicial review regarding the complaint handling measures for PPI.
I’m back as promised with the second slice of the pie on good indicators of your PPI being mis-sold to you.
Last week’s post on Single premium policies was the first in a series explaining the various reasons you are able to claim back your PPI. I think you’ll agree, it makes for interesting reading! The topic up for discussion this week is the sale of PPI to unemployed, students and retired customers.
As I have mentioned before, Payment Protection Insurance is designed to cover your repayments on your Loan, Credit card etc. in the event of you becoming sick or redundant from work. How is it going to be of any benefit to you if you’re not working and don’t have an income to protect?
Hi readers, I’m Gemma and I manage the investigation team here at Gladstone Brookes, basically my team work on getting your decision for you.
Over the coming weeks you will hear quite a bit from me! In my job role, one of the most frequently asked questions is; do I have a good chance of success with my claim? What I want us to look at over the next few weeks is the tell-tale signs of your PPI being mis-sold.
There are many issues that the banks come under scrutiny for when it comes to the way in which they have sold (or more to the point mis-sold!), PPI to their customers. The subjects we will touch upon over the next few weeks will include: