Payment protection insurance complaints are expected to rise dramatically in 2011, according to the Financial Ombudsman Service.
The FOS estimates that it will deal with 40% more complaints about payment protection insurance (PPI) this year, compared to 2010. The Ombudsman believes that it will have to deal with 68,000 complaints this year as more people challenge their provider over mis-sold PPI policies.
PPI is often sold alongside mortgages, loans and credit cards, frequently without the customer’s consent or full understanding of the limitations of such policies. Which? senior advocate Lucy Widenka said: ‘People should continue to submit complaints to their provider and escalate it to the FOS if necessary. There may be a delay, but they will be resolved eventually.’
Which? PPI campaign
Which? is campaigning on behalf of PPI mis-selling victims. For the latest updates see our PPI campaign webpage.
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