Shoppers Beware of PPI Scams in the January Sales

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Despite increasing levels of household debt, consumers in the UK will spend around one billion pounds this year to satisfy our Christmas shopping addiction. Then, while we're recovering from the financial hangover, along come the New Year sales.

Shoppers wanting to make the most of the January sales should be aware of the various ways in which they could be mis-sold Payment Protection Insurance (PPI)

"Shoppers wanting to make the most of the January sales should be aware of the various ways in which they could be mis-sold Payment Protection Insurance (PPI)," says consumer finance expert Matthew Whiting.

January sales are renowned for their 'today only' offers which pressure customers into making a quick decision so as not to miss the short-term bargain. People may save money initially, but end up paying more in the long-run if they take on an un-necessary PPI policy. Busy shop assistants and long queues tend to discourage shoppers from asking about a PPI policy before signing up, and even if they do read the fine print, most sales assistants are not well trained enough to give customers all the information they need to make the right decision.

PPI policies are often taken out alongside a loan or purchase on credit. In theory, they cover the borrower's loan repayments if they're unable to due to an accident, sickness, or unemployment. However, many PPI policies are sold to customers who aren't actually eligible to make a claim under the insurance, and many more are simply a rip off.

Matthew goes on to say: "Housewives and stay-at-mothers who don't work are particularly susceptible to being mis-sold PPI. If they purchase something on credit and take out PPI, they won't actually be covered or eligible to make a claim because they're officially unemployed."

The Christmas shopping market is full of catalogues aimed at stay-at-home mothers, and these are often designed to encourage people to simply tick the PPI box on the form. However, they often don't explain the terms and conditions in sufficient detail, which may make it completely worthless.

The right PPI policy can be helpful in the right circumstance, but it's not compulsory. To avoid being ripped off this January, customers must make the effort to read the fine print, ask questions of the salesperson, and even look elsewhere before agreeing to a PPI policy.
Take time to find the correct right information on payment protection insurance from the FSA website.

If you're worried that you may have been mis-sold a PPI policy, you can find out how to reclaim your money at Claim2Gain.

For further information, please contact:
Amanda Goodchild, or David Hanson, PR consultants at Adams Creative
Tel: 01622 687729
Fax:01622 688357
Email: or


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Amanda Goodchild
Adams Creative
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