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PPI Complaints Have Increased Greatly Before FCA’s Deadline Announcement

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Even before the Financial Conduct Authority’s announcement of the August 29, 2019 PPI claims deadline, consumers were speculative of the Watchdog’s decision. Many had filed their complaints as soon as possible. Given the expansive advertising campaigns of claims marketing companies, people have always been aware of mis-sold insurance policies. According to analysts, there were 3.3 […]

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PPI-Level Financial Scandals Possibly Arising From Payday Loans

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Payday loans are seen by the Financial Ombudsman as the newest financial fraud that can possibly reach heights similar to payment protection insurance. According to FOS CEO Caroline Wayman, most customers complain about consumer data breaches and coupling of other services that they never actually need. Wayman said the FOS is keeping a close watch […]

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FOS Received 147,775 Complaints Before 2017 Ended

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In the last quarter of 2017, the Financial Ombudsman received a total of 147,775 complaints. Dealing with approximately 3,000 complaints on a weekly basis, the Ombudsman said it will increase its workforce to deal with the possible huge number of last-minute claimants before the PPI deadline. The Financial Ombudsman Service Chief Caroline Wayman said the […]

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PPI Claims Tips: Claiming For a Deceased Borrower

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If your elderly parents or property guardian appointed you as the estate executor upon their passing, then you have the right to redress all their possible issues with financing including possible mis-sold payment protection insurance. The only caveat is you cannot speak about the opinion or perspective of the deceased. For example, you cannot claim […]

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PPI Claims: Can Banks Require You To Buy Insurance Policies?

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Yes, banks can make it a requirement for loan applicants to have PPI first as a pre-condition before application approval. However, bank employees had abused this clause by urging millions of consumers to purchase only a particular PPI brand. UK’s law recognises the unique situation of each customer. Therefore, it understands no single insurance policy […]

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PPI Review: How Do You Know If You’re Mis-Sold?

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Payment protection insurance is designed to pay out for loans in case you get sick, have an accident, become unemployed, or for any reason have no means of income. The coverage handles the payments for one year. The financial product is convenient and effective, that is if you are eligible for its terms. Millions of […]

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PPI Claim Tips: Until When Can You Make a PPI Claim?

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The Financial Conduct Authority has issued a deadline notice on August 29, 2019 for payment protection insurance. If you haven’t made a claim yet, then you have to make sure you do so before the deadline. Unfortunately, you will be contending with consumers making similar claims. The FCA has mandated that all banks simplify and […]

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Undercover Journalists Reveal Anomalies in FOS PPI Claims Processing

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Britain’s Channel 4 undercover journalists revealed that 500,000 PPI claims may have received improper judgement from the Financial Ombudsman Service. According to the probers, some interviewed employees mentioned making decisions without investigating all details thoroughly to meet strict deadlines for pay rises and promotions. The Financial Ombudsman is the consumer’s final decision-maker when banks unexpectedly […]

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PPI Claims Advice: Did a Claim By Yourself? Don’t Pay The CMC

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If your claims management company (CMC) demands you give them a portion of your payments when you succeeded claiming from the bank your refunds in full, then you have the right to complain or take legal action against them. Claims management companies work on a no win no fee basis. If they succeed in making […]

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Arnold Schwarzenegger Returns to Finish The PPI Advertising Job

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As much as 64 million PPI policies were mis-sold in the last two decades. The Financial Conduct Authority, with powers better than its predecessor, is keen on ending the scandal on August 29, 2019. To aid their attempts to create awareness, it has hired Arnold Schwarzenegger’s iconic appearance as an animatronic robot to grab attention […]

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UK PPI Advertisements Mislead Customers to CMCs – Lewis

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MoneySavingExpert founder Martin Lewis has gripes against the FCA’s efficient £42.2 million PPI claims advertising campaign. He said consumers asked to search for “FCA PPI” can likely land on claims management company pages. It may mislead customers that payment is not optional when reclaiming PPI refunds. Lewis said the FCA should have displayed its URL […]

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PPI Complaints Almost Doubled In Six Months After FCA Ads

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The FCA’s advertising campaign had yielded results as PPI complaints have increased by 40% in just six months after implementation. Featuring the voice and the bizarre tank-tracked disembodied head of Arnold Schwarzenegger helped improve the FCA’s PPI page’s visibility. Complaints have reached about 2.21 million, which was 13,000 fewer compared to the first half of […]

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PPI Deadline Attracts Renewed Financial Sector Interest

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Payment protection insurance had become the boom and bane of the UK’s financial industry. Following the report of millions mis-sold the insurance policy through unscrupulous means, banks have suffered immensely for almost a decade paying for mis-sold PPI claims. However, with the FCA’s 29 August 2019 deadline looming closer and the increasing PPI claims, it […]

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Consumers Possibly Under-Refunded With Current FCA PPI Guidelines

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St John’s Buildings Barristers point out that the FCA’s established PPI claims guidelines have meant consumers lose more than they gain undergoing the process. Barrister Elis Gomer said that the FCA has ignored and privately settled PPI matters wherein it had banks return the consumer’s full PPI value and compensation. Currently, the FCA’s guidelines allow […]

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Clydesdale and Yorkshire Announces £350m Additional PPI Refunds

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Clydesdale and Yorkshire Banking Group (CYBG) announced they will provide an extra £350m to their PPI refund pot after an increase of 59,000 complaints in the first quarter of 2018. According to the banking group, heightened media presence and the Financial Conduct Authority (FCA)’s advertising campaign had helped increase its refund cases. The banking group […]

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How Far Back Can You Claim PPI Refunds?

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Any consumer who was mis-sold PPI for a loan, mortgage or credit card from 1990 onwards can reclaim their refunds. Regardless of the bank’s six-year data policy, you can use workarounds to procure your repayment information and justify your right to claim your full compensation. Banks Tell You They Only Keep Data for Six Years […]

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Three Reasons Why You Should Make Your PPI Complaints Now

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Payment protection insurance had stolen money from you. The truth is, the product itself is useful and efficient. However, due to the manner it was sold, many customers initially ineligible for the policy had ended up paying for a product they can never use. You are entitled to claim for refund and compensation if you […]

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Three Places To Refund Your Mis-Sold PPI

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Payment protection insurance policies, also known as credit card protection and mortgage protection insurance, are the UK’s biggest fiscal headache. Due to unscrupulous sales tactics bank employees utilised to sell ineligible individuals the policies, banks are faced with a massive £40 billion debt that they continue to repay to this day until the Financial Conduct […]

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Self-Invested Pensions Might Be The New Mis-Sold PPI

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A huge number of commission-oriented bank employees and financial advisers marked the beginning of mis-sold PPI. Because of stressful work volumes, these individuals sold ineligible customers an insurance policy they cannot use. As claims for these mis-sold policies come to an end on 29 August 2019, self-invested personal pensions (SIPP) might be the next to […]

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3 Ways to Make Sure You Have Complete PPI Refunds

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The deadline for payment protection insurance claims is approaching its last year. By 29 August 2019, the Financial Conduct Authority and Financial Ombudsman will not acknowledge any complaint related to mis-sold PPI. Best you make your claim today to avoid any problems in the future. In this light, consumers must claim all their refunds in […]

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