PPI

Make sure your plastic matches your wallet

Rebecca Atkinson — Fri, 21 Nov 2008 16:46:49 +0000

When times are tough or you have a vital purchase to make, it's all too tempting to whack all your expenses straight onto plastic. But often, we forget about the finer details, such as when we’ll pay it back and how much it will cost us, and don’t worry about it until the statement comes in.

Sale of PPI with loans to be banned

Rebecca Atkinson — Thu, 13 Nov 2008 10:14:13 +0000

The Competition Commission has recommended banning the sale of payment protection insurance alongside loans and credit as part of its high profile investigation into the sector.

Shoppers ripped-off by PPI costs

Rebecca Atkinson — Fri, 10 Oct 2008 15:19:13 +0100

The competition watchdog has found that the cost of payment protection insurance (PPI) alongside retail loans for catalogue items such electronics or furniture is still too expensive.

The Competition Commission believes that the sale of retail PPI, which covers the payments the sale of goods particularly through home shopping catalogues, is uncompetitive and unfair.

Alliance & Leicester in record £7 million fine

Rebecca Atkinson — Tue, 07 Oct 2008 12:05:47 +0100

Alliance & Leicester has been fined a record £7 million by the City watchdog for putting pressure on loan borrowers to take out payment protection insurance (PPI).

The Financial Services Authority (FSA) says that for three years to December 2007, the banking giant sold around 210,000 PPI policies to customers alongside personal loans at an average price of £1,265.

Take cover with mortgage protection

Chris Thomas — Mon, 06 Oct 2008 15:14:57 +0100

The credit crunch continues to bite and redundancies and repossessions are on the rise, meaning more of us are feeling pain on the financial front. The statistics certainly make harrowing reading. Figures from the Office for National Statistics show that 1.67 million people were unemployed in the UK at the beginning of June, 60,000 up on three months earlier.

Is this the end for single premium PPI?

Rebecca Atkinson — Tue, 30 Sep 2008 16:25:07 +0100

The financial watchdog is urging banks to stop selling single premium payment protection insurance (PPI) alongside personal loans as part of its plans to beef up the regulation of this controversial protection product.

Mortgage lender fined £1.12 million

Rebecca Atkinson — Thu, 25 Sep 2008 11:03:28 +0100

Sub-prime mortgage lender GE Money Home Lending has been fined a whopping £1.12 million by the financial regulator for leaving nearly 700 borrowers at a financial loss.

The fine comes following a Financial Services Authority (FSA) investigation into GE Money, after 684 borrowers suffered financial loss in excess of £2.3 million before any redress was paid to them.

Brits warned to avoid credit card PPI

Rebecca Atkinson — Tue, 09 Sep 2008 17:20:03 +0100

Consumers have been urged not to take out payment protection insurance (PPI) on credit cards, after research found that millions of people mistakenly believe it will improve their chances of being approved for credit.

Cut the cost of financing your new car

Rebecca Atkinson — Fri, 29 Aug 2008 17:24:07 +0100

With the new 58 registration cars rolling off the forecourts this week, choosing the wrong personal loan could be an accident waiting to happen.

Firm fined over bad PPI sales

Rebecca Atkinson — Wed, 30 Jul 2008 11:23:15 +0100

Mutual society Liverpool Victoria has been fined a whopping £840,000 by the Financial Services Authority (FSA) for putting pressure on customers to take out single premium payment protection insurance (PPI).