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PPI Claims: Consumers 'seeking cash flow boost'

Those people who are relying on credit cards and loans to add to their cash flow may find it more financially prudent to check to see if they can make a payment protection insurance (PPI) claim or seek a loan refund.

According to the Finance & Leasing Association (FLA), the amount of consumer lending in the UK in October was five per cent higher than in the same month in 2010, with the amount on both store cards and credit cards rising over the past year.

PPI claims could allow consumers to keep ahead of their finances as the FLA said many consumers will find themselves with large bills on the doorstep in January.

Fiona Hoyle, chief executive of the group, said it was vital families planned ahead and advised those who will turn to credit to ensure they could afford the repayments.

The latest figures from Credit Action reveal that each day in the UK £174 million is paid in personal interest.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801245148-ADNFCR

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