Complaints against PPI rises to over 2000

Wed, 26 Mar 2008

Statistics show that there has been more than a 50 per cent increase in Personal Payment Insurance complaints at the Financial Ombudsman Service (Fos). The controversial insurance is taken out to guarantee instalments for mortgages, loans and credit cards .

Emma Parker, spokesman for the Fos, said: "We have seen sharp month-on-month increases of PPI complaints through to the end of 2007 and it has continued into the early months of 2008. We are getting a number of complaints on the subject but one of the biggest areas is around single premium PPI."

Ms Parker revealed that the nature of the complaints around the sale of PPI was diverse. Some people said that they did not even realise that they had a single premium PPI and they didn’t know that it was part of their loan . Others said they had not received a full explanation regarding the pricing structure, while some said they would never have been eligible due to their employment or because of medical conditions .
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Save money on your mortgageSave on Your Mortgage

Would you like to save money on your mortgage? Fill out our quick mortgage enquiry form.

Health cover, life insurance and PMIProtect Your Health

Find Critical illness, Life and Private Medical Insurance PMI policies.