Lot of people wants to know what the government says about the misspelling of payment protection insurance. The Financial Service Authority (FSA) issued an order to stop sales of the overpriced payment protection insurance (PPI) covers. The new rules of the Financial Service Authority (FSA) banned the sale of the Payment Protection Insurance which were hugely overpriced and contained terms that made it very difficult for the clients who have payment protection insurance cover to pursue a claim.
This controversial Payment Protection Insurance (PPI) which was a single premium was quite frequently missold. As the new rules regarding the Payment Protection Insurance have been introduced and are now in force the banks and building societies is believed to have Mis-sold nearly £2 billion worth of Payment Protection Insurance (PPI).
There are variety circumstances in which a Payment Protection Insurance can be Missold for example where it was not made clear by the agent that the Payment Protection Insurance (PPI) is optional. The other circumstances in which a payment protection insurance can be mis-sold is that where the selling agent of the payment protection insurance policy failed to mention the buyer of the payment protection insurance that he/she will not be covered for any previous medical conditions.
Similarly if the agent did not mention that the payment protection insurance premium is a single payment. In other words there will be a single upfront payment for the payment protection insurance cover. If the answer to these questions is yes than the payment protection Insurance policy is mis-sold. If you've been mis-sold PPI you might be able to get your money back
Payment Protection Insurance (PPI) - Million’s of policies have been mis-sold. If you’ve been mis-sold you can get your money back.
If you think you have been missold a payment protection insurance and you may be entitled to reclaim your money back.