In 2008 The Competition Commission carried out an investigation to learn the actual percentage of authorized claims over the course of a little over one year and came up with the following figures:

* PPI with Credit Cards – approved claims around 11% of the time.

* PPI with Mortgages- approved claims around 28% of the time.

* PPI with Personal Loans – approved claims around 15% of the time.

It has been widely reported a large number of consumers that purchased payment protection insurance were lied to at the time of personal loan application. Many were advised that the cover was mandatory in order for them to obtain the loan, which is an outright lie and tops the charts for people whom are reclaiming ppi for mis-selling. Even worse is the fact that had you been self-employed, unemployed, under 18, over 65, retired, had certain health problems, had not been employed at the very same business for over 12 months, and so on, you should not have even been offered this cover as you would have been deemed ineligible.

Many customers might not even know that ppi was added to their monthly payment repayments. One method lending companies used to pull this off was to present the customer with a partially completed form and then have them sign it. The unwitting consumer would likely sign their name not really knowing they opted to purchase PPI.

It has also been reported that the total expense consumers could end up paying for this cover could be up to 50% of the actual loan amount. Which means in the event you borrowed 5000 pounds, you might end up paying 5000 in addition to 2500 plus the finance fees. When you see those numbers and understand that only a small percentage of customers actually collect in times of need, it surely does not seem to be worthwhile.

The above mentioned are simply a couple of of the numerous ways by which consumers were mis-sold payment protection insurance. If you need more information on how to make ppi claims visit www.ukppiclaims.org.

You would be surprised to learn that big name giants had been among the largest culprits in this scheme. The financial institutions or sales people would inform a loan applicant that their ppi was required to get their loan. If the consumer had no idea that they had been being lied to and they would agree on the cover; not realizing they would be paying an substantial fee varying from 10% up to 60% from the original mortgage.

Several other consumers were never even aware that the lenders be it the banks, personal mortgage lenders, or credit card issuers had really applied the ppi to their account. They never agreed and most likely would by no means have recognized if it had been not for all the news stories.

Other ways in which customers have had success in reclaiming ppi was by proving they certainly had been mis-sold due to some from the following reasons.

1. The client was retired or self-employed.

2. Did the lender explain to you the price and terms from the actual ppi cover? Did they explain to you how a lot you could be paying, terms of exclusions for example medical issues?

3. The client was between the ages of 65-70.

4. Were you told that you could purchase the PPI from an independent agency or did they tell you it had to be bought through them?

5. Were the terms of cancellation explained in detail to you?

6. Did you currently have cover that might already make repayments to your loan companies?

There are numerous other variables involved that the consumer must prove in order to reclaim ppi payments; nevertheless, should you were certainly mis-sold ppi then you ought to begin your claim now while you are able to. You are always able to get the assistance of the FOS if your ppi claim is denied; or get in contact with a ppi claims business whom specializes in this field.

Contact ppi claims companies to find out if you are able to make a ppi claim.

The Financial Services Authority (FSA) has today said those who have made a recent complaint about PPI mis-selling have got five months longer than usual to do it.

Usually, there is six month time limit to lodge a concern about a financial package you have taken, however the usual limit has been suspended until the 27th October 2010. However the limit is is only applicable to those that have been sent a final response from their PPI provider between the dates of 28th November 2009 and the 28th April 2010.

There was a delay in the FSA’s own plans whilst it decided how companies should be made to deal with PPI complaints. However, the regulator did not want consumers to suffer as a result of the delays, and this is why it has decided that it should extend the complaint deadline.

The FOS revealed that in their latest annual report that 30% of new cases for the year to the end of March 2010 were PPI related complaints.

PPI has been at the centre of controversy for some time, and there have been investigations carried out showing that many people were mis-sold these policies. The financial watchdog has dealt with over 49,000 complaints with the vast majority of these complaints belonging to the sale of PPI products; this is compared to a figure of 31,066 complaints in the previous twelve month period.

On average, it is thought that PPI related complaints amount to around 135 each day. Many firms automatically reject PPI claims, yet the financial services ombudsman then upholds, on average, 90% of consumer protests it handles.

To Claim Payment Protection Insurance ask the experts to help. Contact Donns LLP to help Claim PPI back.

PPI is ‘insurance’ sold when you take out a loan. The idea behind PPI is a sound one, for example, if you take out a mortgage and cannot pay the repayments due to illness the PPI would pay your mortgage for whatever period the amount of PPI taken allows, a good idea.

Unfortunately this has not been the case, and the truth is that the majority of people with a PPI has either been misold, didn’t know they had been sold PPI or have been sold the wrong type of PPI which doesn’t actually cover them. So we have a situation where thousands of people are paying their cash into a scheme that is of no use to them whatsoever and would not even pay out in any case.

So what was the point in PPI you might ask? The answer is pure profiteering by financial institutions, to the tune of 4 billion pounds annually, all based on false information provided to the customer.

Well it all looks to be over for the banks. On top of the millions of PPI customers claiming back money they have unnecessarily paid out (to the tune of 177 million in the first 11 months of 2009), the Competition Commission has recently stated that it will ban the sale of PPI alongside the sale of financial products such as loans, credit cards and mortgages.

This decision means that the banks will no longer be able to sell this highly controversial insurance product at the time they decide to borrow, or during a fixed term after they have taken out the loan.

There are many PPI Claim experts out there to help you claim back your PPI, contact Donns LLP to help withPPI Claims and for the best advice

From 2005 onwards the sale of Payment Protection Insurance (PPI) has been regulated by the Financial Services Authority (FSA). The FSA created a set of rules that are very clear and dictate what firms and advisers selling payment protection should do and say at the time of sale. Misold or miselling a police can occur if the advisor fails to adhere to these rules.

Your advisor should have made you aware of the following information:

If the policy expires before you finish paying for the loan or finance agreement, then the advisor should make you aware that this was the case.

The advisor should make the costs of the agreement clear, and whether the PPI would then be paid by one single payment, or by regular installments.

The advisor should make the costs of the agreement clear, and whether the PPI would then be paid by one single payment, or by regular installments.

If the policy was a single premium policy, then the advisor should have made you aware that the cost of the policy would then be added to the loan or finance agreement and that interest would then be applicable on the policy.

If the policy expires before you finish paying for the loan or finance agreement, then the advisor should make you aware that this was the case.

You will also need to know the exclusion and exemptions associated with the agreement so that you are in a position to fully understand what you are agreeing to. If at any point the advisor has failed to mention any of these points than you have a case of mis-selling a policy.

You will also need to know the exclusion and exemptions associated with the agreement so that you arein a position to fully understand what you are agreeing to. If at any point the advisor has failed to mention any of these points than you have a case of mis-selling a policy.

There are many experts out there to help you Reclaim PPI contact Donns LLP to Claimback PPI.