Lloyds Banking Group, Halifax no longer to offer Payment Protection Insurance

UK, 27th July, 2010 - Lloyds Banking Group (including Halifax) has stopped selling Payment Protection Insurance on all its loans, credit cards and mortgages.

Lloyds Banking Group, Halifax no longer to offer Payment Protection Insurance

Instead it will simply hand out a generic leaflet about PPI with such products. The group has advised  

"Lloyds Banking Group stopped selling PPI from Friday, 23 July across all brands. The group does not expect this move to have an impact on income and the group will continue to receive income from existing policies.

Payment Protection Insurance has been missold for years and many people purchased PPI without any knowledge of what they were buying and often thy were not eligible to claim on their policy as they were retired, self employed or in ill health etc 

DebtFC also found that many people were not given an option if they wanted the loan they had to take out payment protection insurance (PPI). 

Many companies sold the policies to people regardless of their suitability as the commission that they earned was a big earner for companies. DebtFC has helped and advised our existing client’s who are undertaking debt management plans or trust deeds and where a client in debt has taken out a payment protection insurance agreement DebtFC has applied to have their payments refunded. This has resulted in DebtFC clients receiving thousands of pounds. If you think you may have a payment protection insurance claim (PPI) contact us now on 0800 007 5307 or email info@debtfc.co.uk