Reclaim your Liverpool Victoria Banking Services PPI - Payment Protection Insurance Claims

The Financial Services Authority (FSA) fined Liverpool Victoria Banking Services Limited (LVBS) £840,000 in July 2008 for serious failings in the sale of ‘single premium’ Payment Protection Insurance (PPI). The penalty was imposed for failings in relation to PPI offered to customers who telephoned LVBS seeking unsecured personal loans between 14 January 2005 and 8 August 2007.

When customers rang LVBS to apply for a personal loan, LVBS added the cost of PPI to the quotation without the customer even asking for it. In addition, LVBS deliberately failed to inform customers that PPI cover was not compulsory and also did not explain that the cost of the insurance was also being added to the loan. This meant that borrowers paid additional interest on the PPI premium as well as paying interest on the original loan for the life of the loan totally unnecessarily.

If customers realised they did not have to buy the cover and objected to it, LVBS defied regulations by applying pressure on them to take the PPI.  LVBS also provided inadequate information to its telephone customers about the features, exclusions and limitations of PPI and often provided information that was unclear, unfair or misleading.

FSA Director of Enforcement Margaret Cole said, ‘When customers phone for a quote, it is totally unacceptable for firms to add on the cost of insurance which the customer has not asked for’.

In 97 sales calls reviewed, the FSA found over 60% of PPI’s had been completely mis-sold as the customers’ were not eligible to make a claim should they have needed to.

Unfair PPI agreements affect many of the UK population.  Now you can do something positive and fight back with no upfront fees to pay.

Payment Protection Insurance is a product that is offered with nearly all credit agreements and there are many reasons why your claim may be a valid one.

• Have you been miss sold Payment Protection insurance (PPI)?
• No upfront charges
• Our solicitors charge 20% of recovered monies
• If successful claimants in default can apply to have their defaults and CCJ’s removed from their credit history.

CALL US TODAY ON 0845 867 65 44 or use our enquiry form.