Mis Sold PPI claims will suffer like unfair bank charges compensation as bank seek to stop claims going through.
Online PR News – 21-December-2010 – – When taking out a credit card, loan or mortgage or any other type of personal finance, chances are the person may have been sold a payment protection insurance policy also known as PPI as an addition.
The payment protection insurance is designed to cover payments for up to a year or two if one is unable to work due to an accident, sickness or unemployment. But it has become clear that mis sold ppi have increased significantly over the past 6 years and there have been thousands of mis-selling complaints.
http://www.ppirecovery.com spokesman Steve has said "If you’ve bought a PPI policy directly from your lender, at best you’ve paid over the top prices for the insurance. At worst, it may be unlikely that they’d ever pay out a ppi claims (for example, if you’re self-employed)"
PPI-Recovery spokesperson Steve continued "If you think you may have a mis-sold ppi, it’s best to act now because there are new rules about the way banks deal with PPI are being challenged by the Courts. Like the ability to reclaim unfair bank charges (see http://www.bankcharges.com), the Courts may decide to put claims on hold but for now it’s still possible to claim ppi compensation so make sure you get your complaint in quickly."