does anyone know?

[antz99]

Hi Guys,

 

A friend asked me a question today and I didnt know the answer... so I thought who would know obviously someone on CAG haha..

 

The whole situation of CCA's not being worth the paper they have been written on and PPI being misold.... The question was are the sub prime loan and mortage companies going to be the biggest culprits as they are known to hard sell PPI and people are often desperate as they can not get credit anywhere else... I know of cases on here where people talk about the Kensington and I know they are a sub prime lender..

 

Just seeing if we will see more cases against sub prime lenders being won or not...

 

Any views???

 

Since my case with barclaycard I have taken an interest in all matters related to consumer credit ..

 

[antz99]

anyone

[MARTIN3030]

If you watch the news,then you will know that ultimately EVERYONE is affected by the sub prime markets.

Its much more than PPI and unenforceable CCAs ....Look at Councils now who had investments in both sub prime and hedgefunds-Liverpool being one example.

So it goes down the line from the top to the bottom-lets just say these are nervous times for all !!

[antz99]

thanks Mrtin,

 

reason being.... I thought and have been told by friends before that the bad credit loan companies often push PPI very hard on customers and was therefore seeing if they will be hardest hit...but as I have seen in the news many major lenders have been fined including egg so It looks like they have all been at it.

 

With the companies being fined by the FSA and being told to pay compensation to the customers as in the case of egg, do you think people will still be claiming themselves following the steps we take on this website to reclaim ppi or will egg try to pay a lower amount by admitting wrong doing any pay a smaller amount as they said they will contact customers directly.

 

In summary my question is, with the FSA finding companies guilty will this put an end to individual claims cases as the lenders look to pay smaller penalties by contacting customers directly..just a thought ..

[antz99]

apologise my "A" DECIDED not to work

[antz99]

any Views on this ....... very interested in everything that is happening as we see the pressure growing on the lenders...