Rip Off Payment Protection Insurance- Can YOU Claim?
May 15, 2009 by admin
Filed under Mortgage Claims For PPI, PPI Claims, Wipe Cards
Payment Protection Insurance
It is easy to claim back mis-sold PPI. Very few people have been able to claim on this insurance and Lenders have been fined MILLIONS in the high court for selling it to people who DID NOT need it or whom they knew would be NEVER be able to claim on it as they were self -employed, about to retire, or already had pre-exting medical conditions which meant they could never claim anyway!
It is a NATIONAL SCANDAL! And you can claim it all back! FREE.
The Competition Commission has released a damming report following its investigation into the Payment Protection Insurance (PPI) market.
The Competition Commission said in its summary; we provisionally found that each credit provider and financial intermediary faces little competition for the sale of Payment Protection Insurance (PPI) when it is sold in combination with the credit it insures. As a result of this lack of competition, it is highly profitable to distribute PPI. We estimated that the 12 largest distributors of PPI made profits in excess of the cost of £1.4 billion in 2006. We found that there were features of relevant markets which resulted in consumers facing higher prices and less choice. Not only was the matter of competition a factor in this investigation but the Citizens Advice Bureau issued a super-complaint which highlighted not only consumers paying excessively high prices for PPI but that consumers were also often mis-sold PPI by companies using pressure and unfair sales tactics.
