Over the last few days many of our High Street banks have reported major losses due to the money they have set aside to pay for claims for mis sold payment protection insurance. Millions of people were mis sold PPI policies resulting in serious financial provisions being made by well known banks. Lloyds banking group set aside £3.2bn to cover the estimated cost of compensating customers who were mis sold PPI. Other banks quickly made further announcements on the sums they had decided to set aside for PPI claims, Barclays £1bn, RBS £850m, Santander £548m and HSBC £269m

Consumers who took out credit cards, loans with banks or mortgages in the last 15 years are being urged to check to see if they were sold payment protection insurance. Many people will not be aware they have paid for PPI on these credit cards, bank loans or mortgages. This means they may have a claim for PPI going back as far as 15 years. Research suggests many consumers will have taken out between 2-4 credit cards,bank loans or mortgages in the last 15 years and so may be entitled to claim back all the premiums they have paid plus interest over all those years. Consumers should be aware they may have a claim for each and every credit card, bank loan or mortgage they took out in the last 15 years.

Money Boomerang has today aired a brand new TV advert for PPI mis selling on national television to help raise awareness of consumers rights to bring claims for payment protection insurance, as far back as 15 years. Running alongside the new PPI advert is a new look website aimed to make life as easy as possible for customers. Over the last 3 years Money Boomerang has had the privilege of working on behalf of thousands of clients and helping them recover millions of pounds in PPI settlements. Not many people are aware they may go back over the last 15 years of their lives when looking to see if they were mis sold payment protection insurance on loans, credit cards, mortgages or any other form of personal finance.

Money Boomerang prides itself on not asking for any money up front from clients and was the first company to advertise on national television in 2008, to help people who were mis sold PPI. Making a PPI claim with Money Boomerang is designed to be as easy as possible for the customer whilst at the same time delivering an excellent service. 

NEWSFLASH The Financial Services Authority (FSA) has taken the unprecedented step of agreeing new guidelines for PPI mis-selling. The new guidelines have been agreed with the three largest banking...