How is PPI mis-sold?

How is PPI mis-sold?

How were the banks mis-selling PPI? Banks and other lenders sold PPI to their customers without fully explaining what it covered. In the worst case scenarios, the banks/lenders lied to customers by telling them it was a compulsory element of a loan, or they simply added it without the borrowers’ consent.

Can you claim commission on PPI?

It wasn’t so long ago that we were being urged to look into whether we could make a PPI claim. But, despite the deadline to make a PPI claim having passed, it’s still possible to claim for the commission that was attached to a PPI policy.

How long do PPI claims take to settle?

within eight weeks
A PPI claim should be settled within eight weeks. This is the timeframe that banks are given to respond to your claim with an outcome. However, some cases do take longer, especially if they are particularly old or complex. If this is the case, you should receive a letter from the bank or lender.

Who was mis sold PPI by Marks and Spencer?

Janice Smith knew she had PPI on three loans that she had with Marks & Spencer and made a claim for mis-selling direct to them. “I got a very terse reply telling me that though I had it I had asked for it and so I had no claim,” said Janice. But she was convinced she had been mis-sold.

What did Marks and Spencer do with your money?

M&S Money sold it’s customers loans and credit cards in huge numbers, and a significant number of these credit agreements had PPI added to them in order to generate huge profits for M&S. Recaptcha requires verification.

How to contact m & s bank about PPI?

At this time, some customers will find it easier to correspond with us via e-mail, please complete and submit the E-mail request form below. If you are due redress as a result of your PPI complaint, please complete and submit the Bank Details form below to enable us to send your redress via Bank Transfer.

Why do I not know the full cost of PPI?

Many consumers are unaware of the full costs of a PPI policy. This is due to lenders not making cosumers aware that the full cost of the policy was added to the loan, therefore incurring the same rate of interest as the rest of the loan.