One of Britain’s former top banking executives believes the mobile phone industry ‘is making the same mistakes as the banks’ and could be heading for a PPI-type scandal.
Finance experts are speculating that the PCP method of buying cars could develop into ‘the next PPI scandal’ because buyers were not made fully aware of the financial implications of the deals.
PCP stands for personal contract purchase and has replaced hire purchase as the most popular way of buying a new car.
Six months after Arnie Schwarzenegger urged consumers to ‘Do It Now’ and check if they have ever been mis-sold PPI, the pace of claims has picked up and millions more has been paid out to successful claimants.
The mis-selling of PPI has become one of the biggest financial scandals the UK has ever known with millions of policies being sold to people who didn’t want them, didn’t need them and, in many cases, didn’t even know they had them.Read More
HSBC added an extra £840 million to its PPI compensation pot in 2017 in anticipation of a flood of new claims following the announcement of the PPI claims deadline.
A pair of influential MPs has warned Barclays Bank that they should not shut down a compensation fund for the mis-selling of ‘debt waiver’ products.
Millions of pounds in PPI payouts could go unpaid because the consumers either have no idea money is owed to them or haven’t bothered to make a claim against their lender.
A new survey of nearly 900 people has revealed 80% have no idea that the deadline for making PPI claims is just over a year from now.Read More
The rate of payouts for successful PPI claims is continuing to rise following the announcement of a final deadline in 2019.
Official figures from the Financial Conduct Authority (FCA) reveal that Britain’s lenders paid out £298.8 million in September – the latest month that figures are available for – bringing the overall figure paid out since January 2011 to £28.5 billion.Read More
Arnie Schwarzenegger has only just started careering across our TV screens with his PPI claim message of ‘Do It Now!’ and already the volume of claims for mis-sold policies is growing.
The clock is now ticking on the PPI claims deadline and consumers have just two years to make a complaint or lose the right forever – but what does it mean for you?
Well, if you’ve already lodged a complaint with your lender then the deadline will have no affect at all and your claim should be fully investigated.Read More
Top financial analysts are speculating that Britain’s high street banks are about to add millions of pounds more to their provision for future successful PPI claims.