Claim back YOUR MONEY today!

Have you taken out a loan from your bank in the last six years?

Thousands did, and just like them you could have been mis-sold Payment Protection Insurance, meaning that you could be entitled to a refund of thousands of pounds!

We are specialists in reclaiming your money quickly, with no up-front-fees and no hassle!

Claim now. It's easy. No obligation. No up-front fees.
* Required information
Name*
Phone*
Best time to call?
Email*
How did you find us?
Type code shown* verification image, type it in the box

Don't worry. We will only store and use the information provided to answer your query and process your request. Your details will not be passed on to any 3rd party or be used for any other purpose.

News

Missold Payment Protection Increases FSCS Levies 70-Fold

According to the British Insurance Broker’s Association, the current amount of missold payment protection in the UK has caused a huge 70% increase in insurance intermediary sub-class levies from the Financial Services Compensation Scheme.

BIBA were in attendance at an FCSC evidence session held at the Houses of Parliament during last week, where their head of compliance Steve White noted that ‘The misselling of PPI by credit brokers has caused a 70-fold increase in FSCS levies over the last three years. A firm that paid £3,000 three years ago is now being faced by a levy demand this summer of £210,000.’

Mr White also argued that as the industry is typically witness to a two-year delay in complaint activity and compensations demands that the compensation expected as a result of the mis-selling is likely to further increase over the next few years.

The All Party Parliamentary Group on insurance and financial services – who were holding the meeting – did note that if the amount of compensation for missold payment protection continued to increase to the reported £4 billion that has previously been quoted as the potential final figure, that it ‘could not be borne by the industry.’

Jonathan Evans, the MP for Cardiff and the Chairman of the APPG, argued that as banks were the institution that most widely sold PPI that they should be requested to shoulder more of the responsibility for the costs.

For more of the latest news regarding missold payment protection, visit Creditline Financial now by clicking the link here.

Posted by Shaun Edwards on 22 Mar 2011

Other News

What Is PPI?

19 Aug 2011