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PPI Banned

With so many UK consumers having been mis-sold payment protection insurance, there have been efforts to get PPI banned so that more people don't fall victim to mis-selling. Payment protection insurance, if this were a perfect world, would be a very good cover to have. It is supposed to cover the borrower in the event they cannot work as a result of involuntary unemployment, sickness or accident. The cover can be expensive and has a high number of exemptions meaning it does not always offer the level of cover customers expect. The other issue with PPI is that it has been frequently mis sold. Many people have been left angry by the scandal and are keen to see PPI banned.

In the Beginning Was the CAB

A great debt of gratitude is owed to the consumer's advocate group, the Citizens Advice Bureau, for making public this 'protection racket.' Largely through their efforts dating back to the mid 2000's, official investigations have been launched and some lenders have been fined. Although it hasn't gone so far as to getting PPI banned in the UK, more stricter guidelines are now in effect to make lenders accountable for their misdeeds. Lenders have been ordered to refund mis sold payment protection in order to rectify a wrong they had perpetrated on the general public.

What You Can Do

The first thing you can personally do about this travesty of justice is to make every effort to claim back what is rightfully yours. Bear in mind that PPI must have been mis sold before you are eligible to get a refund, but if you were indeed mis sold loan insurance then you can file a claim with your lender, appeal their decision if need be and work to get your money back. After having accomplished that you may want to join the efforts of consumer advocate groups around the UK and work toward getting PPI banned.

To get help with making your claim contact our team on 0207 471 2000 or complete our online application form. We will send you out a pack with everything you need to get started.


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