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Competition Commission Says Consumers Will Benefit From Payment Protection Insurance Reforms
Competition Commission Says Consumers Will Benefit From Payment Protection Insurance Reforms
Changes implemented in the way PPI is sold will no doubt protect consumers in the future, but too many are still failing to address the past and make claims for mis-sold payment protection insurance.
Liverpool,
Merseyside,
United Kingdom
(prbd.net)
02/11/2010
The Competition Commission’s latest reforms to the way Payment Protection Insurance (PPI) is sold have come into effect and will stop the financial sector from selling PPI at point of sale. Reforms will stop the sale of PPI by banks on loan accounts for seven days after a product sale.
While PPI Return http://www.ppireturn.co.uk welcome this move and recognise that consumers will no longer be put under pressure to accept or even be coerced into taking inappropriate PPI cover. However, too many consumers who were mis-sold PPI are still failing to make claims. While the reforms will go someway to stop any future wrongdoings, there is some concern that news coverage of the reforms may confuse consumers who in turn may fail to address a historical PPI mis-selling.
PPI Return http://www.ppireturn.co.uk work hard to retrieve mis-sold PPI for their clients. The company has significant expertise in the area and know how to avoid escalation to the Financial Ombudsman Services (FOS) making a successful PPI claim quicker. Their significant experience also allows them to quickly assess the eligibility of a claim as well as knowing what level of compensation individuals may expect.
The Competition Commission’s reforms to ban the sale of PPI at point of sales have recently come into effect. The proposal originally met resistance through an appeal from Barclays Bank who opposed the reforms.
ABOUT PPI RETURN – PPI CLAIM SPECIALISTS
PPI Return http://www.ppireturn.co.uk is one of the UK’s leading PPI claims law firms with a wealth of experience and highly qualified legal advisors.
PPI Return is dedicated exclusively to helping clients regain mis-sold Payment Protection Insurance (PPI) payments. There are many thousands of people in the UK who were either mis-sold PPI or not informed of how the PPI worked when taking out loans. PPI Return works to correct this wrong doing and works on a highly competitive fee basis. PPI Return provides an online ’60 Second Test’ where you can quickly assess if you are entitled to make a claim for mis-sold PPI in addition to Web Chat with PPI Claim specialists.
CONTACT
PPI Return
Mersey Chambers
5 Old Churchyard
Liverpool
L2 8GW
Tel: 0800 877 8888
info@ppireturn.co.uk
http://www.ppireturn.co.uk