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PPI Claims - About PPI

PPI Claim News - 15/12/2009

Banks are cashing in with PPI

Banks are using payment protection insurance (PPI) charges as a way of subsidising low interest rates despite low claim rates, the Daily Herald reports.

Despite the recent Supreme Court ruling in favour of banks over charges, finance providers have been required to reopen more than 185,000 consumer complaints over PPI claims.

PPI is often sold with loans, although in many cases the policy-holders have been prevented from claiming because of loopholes or were unable to claim in the first place because the policy was mis-sold to them.

The news provider also revealed that banks have been able to take advantage of low interest rates by trebling their profit margins on mortgage lending.

With many consumers turning against PPI, some banks are looking to recoup their losses by squeezing mortgage customers harder.

Recently, the Independent reported the story of an elderly consumer who was driven into A consumer was driven into debt by payment protection insurance (PPI) on his credit card without being fully covered by the policy.

Belmont Thornton can help you make a PPI claimPayment Protection Insurance Claim, or a credit card charges claim. For free PPI Claim advice call 0845 526 0000 or fill in the Quick Claim box to be sent a PPI Claim pack or credit card charges claim pack.ADNFCR-2776-ID-19513980-ADNFCR

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