Connect with us


Top Reasons Why PPI Was Widely Mis-Sold

One of the major reasons why PPI was widely mis-sold is that the banks were making huge profits by selling PPI. The clauses of PPI were so tough and complex that there were hardly any reimbursements, and thus, the banks had very less expense in continuing that policy. It helps the banks to enhance their profits by huge margin, and it was easily attachable for a very nominal amount to the mortgage, loan or the credit card of the customers, without even them knowing many a times. Here are the few major reasons why PPI was widely mis-sold.

  • PPI was widely mis-sold because the people didn’t knew much about what PPI was, and lacked the awareness about this insurance product.
  • The PPI was not widely known by the public and the banks never made an effort to let people know about it.
  • It was widely mis-sold, because the banks and their agents were making huge profits out of its sale.
  • The banks were able to increase their profits by huge margin by selling PPI widely.
  • In desperation to get loan or other line of credit, it became easier to fool customers into buying PPI.

So, there are the major reasons that contributed to making PPI scandal so big. Many people still don’t know whether they have PPI or not, and still wonder have I got PPI. However, the process of filing for refund is now much easier and you can get the refunds easily if you follow the process accurately.

You can get more information on how to file for claim from the bank, and if you want, you can even hire a claim management company to get further details. It would ensure that you get back the money you rightfully deserve.

Continue Reading

Recent Posts

Autos20 hours ago

In a Car Accident? Here’s How to Find a Great Lawyer

If you’ve recently been in a car accident, you know that it can be an overwhelming experience. Not only do...

Education2 days ago

Considering Therapy? Here’s a Few Common Therapy Techniques Explained

If you’re considering therapy as a means to improve your mental health, you may be curious about the type of...

home repairs home repairs
Home Improvement3 days ago

Top 5 Home Repairs You Should Never DIY

DIY home repairs are all the rage these days. But before you jump on the bandwagon, there are some things...

Health2 weeks ago

The Power of CBD Oil for Relaxation: How to Use it for Sleep and Stress Relief

If you’re struggling to get a good night’s sleep or feeling stressed, try CBD oil. CBD oil has a moment...

General2 weeks ago

Benefits of Getting your Mobile Phone Repair

Mobile phone repair is a task that needs high skills and experience. That is why we always recommend users trust...

Home Improvement2 weeks ago

Great Ways To Clean To Get Your Security Deposit Back In Full

Moving is almost always stressful as there are tons of things to plan and do. Getting your security deposit back...

Home Improvement2 weeks ago

DIY Garage Door Repair: Tips and Tricks for Fixing Common Problems and Maintaining Your System

If your garage door needs to be fixed, wait to call a repairer. Many common problems can be fixed quickly...

Education3 weeks ago

7 Tips to Choosing the Right University for You

Are you considering continuing your education at university? If so, it can be overwhelming to decide which school is right...

Finance4 weeks ago

3 Ways Loans from Credit Unions Are Different From Major Banks

If you’re in the loan market, you may wonder if a credit union is the right choice. Here are three...

Food1 month ago

The World of Coffee: Exploring the Aromas, Flavors, and Benefits of the World’s Most Popular Beverage

Coffee is one of the world’s most popular beverages, enjoyed by people of all ages and backgrounds. It’s also one...

Education2 months ago

New Driver? 5 Things to Consider When Looking for Driving School

When it comes to choosing a driving school, there are many factors to consider. Not all driving schools are created...

Home Improvement2 months ago

Landscape Irrigation Systems: The Basics

If you’re a homeowner, you know that keeping your lawn and landscaping looking nice can be a lot of work....

Travel2 months ago

5 Things to Look for in Luxury Hotels

When it comes to luxury hotels, there is a lot to look out for. Here are five key things that...

Home Improvement2 months ago

Is There a Difference Between Commercial and Residential Concrete?

If you’re a contractor, you know that concrete is a versatile construction material. But did you know that there are...

Law2 months ago

5 Tips to Find the Right Litigation Firm

When it comes to selecting the right litigation firm for your legal needs, choosing wisely is of utmost importance. It’s...