I've been reading all about the PPI scam... Is there any requirement to get PPI at all? Or is it all a scam?
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peterjones
1 year ago
Expert Financial Adviser Answer
Darren Smith
answered 1 year ago
The big issue with the "PPI Scam" as you put it is that some unscrupulous companies "forced" borrowers to take out cover on the basis that loans wouldnt be approved without it or it was set up for people that might never be eligible to claim (ie the unemployed taking out redundancy cover or someone with poor health history taking out sickness cover).
not all PPI policies are bad, just as not all young male drivers are reckless "boyracers".
but that wouldnt sell as many papers would it!
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not all PPI policies are bad, just as not all young male drivers are reckless "boyracers".
but that wouldnt sell as many papers would it!