PPI Timeline

Just before deadline - time, stress or rush concept.PPI has been sold for years, but how does the time-line breakdown?

1998: Mis-selling scandal was highlighted by several consumer magazines, due to it being a very poor quality product, due to the return from the costs.

2005: The Citizens Advice Bureau issues a number of complaints about the mis-selling of the financial product known as Payment Protection Insurance.

Nov 2005: The Financial Services Authority issues a provisional report regarding the selling of PPI and this report outlined the concern regarding the deception that had been committed by the number of lending institutions who had been selling PPI.

2006: September and October of 2006, saw the FCA slap fines on a few small lending companies. Borrowers who had been wrongly sold PPI began claiming back.

2007: In both January and February of 2007 the FSA again fined companies, but this time they were larger and the money involved was millions of pounds.

2008: The Competition Commission continues issuing the report about PPI sales and then followed up in April with another report which highlighted the issue.

2009: In May the FSA banned the sale of single premium PPI policies and in September they also announced very strict steps in order to protect the affected borrowers.

2010: Banks begin to seek a judicial review of the new measures by claiming that they imposed standards retrospectively. Sales of PPI banned.

2011: High court begins in January and it then leads to the High Court judge ruling against the banks.

2011 – Present: Since the rulings in 2011, there have been millions of people who have successfully claimed back the money that they were owed.;

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PPI Deadlines Approaching

PPI DeadlinesThe FCA is considering drawing a line under the whole Payment Protection Insurance despite complaints from banking customers still touching nearly 4,000 a week.

The Financial watchdog claims it is considering imposing a deadline on mis-sold customers’ ability to claim back on their mis-sold policies, following big pressure from the British Bankers Association.

Those affected are still criticising the banks’ for dragging their feet and failing to resolve issues quickly and efficiently.

Financial complaints that the FCA looks at have a six-year time limit from the time the product was purchased, but as many of the customers were mis-led and were unaware they had policies have been exempt.

The FCA is understood to be considering whether to bring this policy under its standard six-year time limit as PPI mis-selling has received years of publicity via numerous mediums.

In 2013, the banks attempted to swat the FCA to set a deadline of April 2014. The British Bankers Association even proposed to fund a year-long advertising campaign in order to push through the deadline.

This sparked outrage among consumer groups, many of which had campaigned for years against PPI, before the banks were caught out and made to stop peddling worthless insurance.

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Do you want to be rich with your debts?

Debt would be a big problem when the debt cannot be resolved or settled. Debt is also an issue when the debtor died, while the debt has not been paid. Let us refer to this article carefully.

debetIndeed, if not planned and treated with mature and with discipline with extra then the debt is a time bomb. Debt would be devastating to our family but on the contrary, if properly planned and managed with high discipline, of course the debt becomes harmless. In favorable conditions, potential debt would be greater impact on increasing the assets of the debtor.

Well, this time I want to complete it by describing in more detail on individual debt instruments in order to make a significant increase in the assets of the debtor.
The next question is could we increase the assets through debt? The answer is “yes” as long as you understand the characteristics of the type of debt instruments in the banking and financial position you were in the corridor.

Understand your debt instruments
If you want to increase the current assets you owe then understand and place some of this debt instrument as intended. So evaluate yourself, if you have any debt that is outside the corridor “limits fair use”? And exceeds the “ideal time of period debt”? Is my total debt above 35 percent of my income? Hmm … and, if so, we suggest you to think and evaluate your debt.

Move your debt instrument!
For those who are outside the corridor of “limits fair use” and beyond “ideal debt period”, the following are tips to be done, namely by restructuring over your debt. How to?

• If you are permanent employees, allocate your bonuses to pay your debt principal. If you can’t then you should start looking for other work actively in order to get a larger salary.
• Calculate your total debt, and then switch the entire debt to the debt that has a long period of time and lighter interest rate, i.e. debt with collateral property.
• If the property has been mortgaged in the bank then try to renegotiate with your bank. As far as your current mortgage and credit has ran at least 1 year, then there is a possibility for the bank to raise the credit limit
• Do not forget, in the allocation of the new funds for investment you should set aside at least 10 percent. Investments can be made in the real sector or the financial sector.
By the ways described above, you can get richer with your debt! Try it!

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Cash in my pension should be handled by the right people

cash in my pensionI’m often asked how to take advantage of cash in my pension. I know that there are so many retirees who are confused when they retire. They would meet a situation where they no longer have a job and only has a pension fund that is not enough to address their needs. In this precarious situation, they often get the wrong advices from their family or friends, so they often lose their pension fund and are forced to depend on support from financial institutions.
The lack of insight of investing is often plunged a retired into the ravine of sorrow. They often lose pensions they have accumulated over decades. Many investment services are misleading and only offered “paradise” for every ordinary client so that they are hooked and did not think enough to seek advice from a quality pension advisory service. We already know the background of this economic bondage for pensioners, and now we should start looking for information on pension advisory services that are truly professional, or we will repeat the same mistakes. Cash in my pension should be handled by the right people and it is my principles!
Be thankful because we live in the Internet era, the era that gives a lot of convenience for everyone to search for any information! Unfortunately, many people only use the Internet as a medium of entertainment, but we can use the Internet to expand our financial insight. We can find a variety of professional pension advisory services on the Internet. They provide websites that are easy to be learned and we can send our data instantly through their websites. This way would save our time because as employees we might not have enough time to get around from one door to another door just to find appropriate pension advisory services that meet our needs and desires.

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Get logbook loans at very low interest rates online

logbook providedMost of the people were interested in getting loans on their vehicle by surrendering the vehicle’s logbook to fulfill their financial needs. It is important for the borrowers to go through the details about the logbook loans provided on the internet before applying for that. There are a number of lenders available on the internet providing details about the logbook loans and its interest rates on their site. It would be useful for the borrowers to get an idea about the simple procedures to know about the loan and its term without any issues. They are also providing details about their financial services on their web page.

The borrowers can choose the term of their logbook loan based on their affordability. So, it would be useful for them to pay the loan with interest rate without any issues. The loans offered for the logbook of the vehicle would be useful for the people to fulfill their financial needs without any issues. The terms and conditions of the loan would be described in detail to help the borrowers. So, they can get an idea about the ways to make payments for the loan and the late fee charges for making payments after the due date.

Any individual can access the pages providing information about the simple procedures to get loans online. It would be useful for the people to get an idea about the ways to apply for logbook loan online and the documents required for that. The lenders were providing details about the documents required for getting logbook loan on their site. They are also displaying the application form for the loan on their site to help the borrowers. One must go through the details about the loan against logbook provided on the site of the lender before surrendering the logbook of their vehicle.

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