Using figures published by the Financial Services Compensation Scheme (FSCS) today, I reckon that the claims management firms have therefore cashed in to the tune of almost £15m. And that’s money they’ve taken away from the victtims of the scandal.
More than three-quarters of people claiming PPI compensation do so through a claims company, says the FSCS. With the scheme having so far paid out £77.5m for PPI mis-selling, my back-of-an-envelope calculations suggest the claims firms’ cut would have topped £14.5m, which is a lot of cash for people to give away.
Because – and this is the crucial bit – making a claim through the Financial Services Compensation Scheme is free. In oth
Full Article…
With the hundreds of options on the market for Americans buying a new car, many companies have tried to personalize the shopping experience for their customers. A car can be seen as an extension of an individual, whether its an environmentally friendly driver in a Prius, or a farmer in a pick-up truck.However, such stereotypes are few and far between these days, as cars with good gas mileage may be appealing to a wide variety of Americans, and those who live in places with inclement weather may truly feel the need to have four-wheel drive on their automobiles.Ways to make more moneyWhile individuals may be searching for other ways to express themselves, beyond the make and model of the car they drive, carmakers are attempting to capitalize on a growing accessory market, according to MSNBC.
Full Article…
One of the first purchases that many travelers make after booking their trip is travel insurance. A good travel insurance policy can cover the costs of canceling a trip in an emergency, help you get cash if yours is stolen on your trip and even help you to replace clothing from lost luggage.
But travel insurance can also be a trap if a traveler is not careful. You could pay hundreds of dollars for a travel insurance policy only to find out that the policy is no good and the company is out of business. When it comes to getting travel insurance, you should consider yourself on your own.
Full Article…
The new rules will allow the landlord 30 days to protect the deposit and issue the “prescribed information” to the tenant about the way the deposit will be handled. If the landlord fails to comply he risks an award against him of up to three times the value of the deposit. Another penalty for the landlord is that he will not be able to rely on a S21 notice if he is in breach of the time limits- unless the deposit is returned in full.
The study found that soaring premiums for young motorists – one company quoted £9,000 for a 17-year-old – are not in line with prices quoted for the rest of the population which have also risen steeply.
The problem is such that the Office of Fair Trading (OFT) has decided to step in, announcing recently that it will launch an inquiry into the escalating price of car insurance.
Average premiums for comprehensive cover rose by over 40 per cent in the 12 months to March, according to the AA. Drivers, aged 17-22, are facing an even tougher time, paying 64 per cent more today – at a typical premium of £2,431. In real
Full Article…
In Canada, we have recently seen two well-established companies filing for protection: Hart Stores Inc. and Norgate Metal. In neither case did the creditors nor the credit insurers suspect that the companies were about to file. In the Hart Stores case, two credit insurers reviewed the portfolio just prior to the company filing and found, that while the company had experienced a small loss at year end and another small loss at the end of the first quarter, there wasn’t any reason to reduce coverage. What wasn’t anticipated: these small losses resulted in the company’s bank refusing to renew the Line of Credit and then the company’s inability to find new financing in today’s market.
In the case of Norgate Metal, the company lost money on a contract due to the last minute withdrawal of a subcontractor. The loss
Full Article…