Egg mis sold PPI
In 2008 Egg stopped selling payment protection cover via the telephone after it was reprimanded by the Financial Services Authority (FSA) for failures in its processes. The FSA had examined Egg’s telephone sales between January 2005 and December 2007 and found issues with approximately 40% of the sales. Egg had trained staff in what it called ‘objection handling’ which involved continuing to try and persuade customers to take out the payment protection cover after they had refused. The FSA fined Egg £721,000 for these failings.
As a result of the publicity surrounding the FSA investigation and fine, Egg mis sold PPI claims increased. If you suspect you may have been mis-sold a policy and may be entitled to make payment protection claims, we can help. We have already helped thousands of people make successful claims against their lender. If you are unsure whether your cover was mis-sold, take a look at the Q&A section below.
Were you sold a policy that was suitable for your needs?
Not everyone needs or wants payment protection insurance and not everyone can be offered cover. Before recommending the cover to you your lender should have evaluated your personal circumstances. If, for example, you were not in employment it is unlikely you would have any need for PPI as it protects against loss of employment. Similarly, if you had cover in place elsewhere or were entitled to full sick pay from your employer you may not have needed the cover.
Were you given full information about your cover?
Before you took up your cover your lender should have clearly explained the key aspects of the insurance including costs, terms and conditions. If you didn’t receive this information your policy may be considered to have been mis-sold.
To find out more about making Egg mis sold PPI claims call 0207 471 2000.
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