1. Recent proposals by the CC (Competition
Commission) may force a ban on lenders
pushing the controversial PPI (Payment
Protection Insurance) on customers.
ppi claims

2. Such insurance is often bundled with financial products like loans
and credit cards to protect consumers should they fall into a situation
in which they are unable to meet the required repayments Roughly 6

3. 5 million of these polices are sold every year, generating billions in
profits for lenders The problem lies in the fact that many of these
policies are miss-sold and a great number of those with them will
never even be able to claim off them because of the complex terms
and conditions that guarantee a payout

4. In fact the Citizens Advice Bureau found that a staggering 85% of its
clients had been denied a payout Lenders and the Association of
British Insures have lashed back with statements that banning PPI
altogether could "destroy the PPI market"

5. Moreover there are customers that do or could rely on PPI whom
would miss out if such a move went ahead Another issue that is
been highlighted is that with the increasing number of job losses and
considerable amount of turmoil that today's markets are in that PPI
may be the only way to ensure borrowers are able to keep up with
repayments

6. The CC is justified in its claims that the cost of PPI is more than
what it should be; this is down to the lack of market competition It's
also pointed out that many consumers are under the impression that
they are only able to obtain PPI from the company offering the line of
credit, this however is not true

7. In fact, in some cases obtaining PPI from an independent insurer
could save you hundreds in premiums If you feel as though you are
paying too much for your current PPI plan then you are also fully
within your rights to switch insurance providers

8. This process can prove tricky though, as a lot off the PPI taken out
on are tied in with the repayment plan If you feel as though you are
paying over the odds for your PPI then it's best to speak with an IFA
(Independent Financial Advisor) who should be able to point you in
the right direction

9. ppi claims

10. ppi claims