What is PPI?

Payment Protection InsurancePayment Protection Insurance was originally designed to protect those who took out loans, credit cards and mortgages should they get ill or lose their jobs.

PPI has been the biggest scandal to ever hit the UK banking industry, with over £20 billion so far shelled out by the UK banking so far in compensation.

The idea behind PPI, is a noble one, however the problem is that millions were mis-sold these PPI insurance policies. In many cases unaware they were sold the policy or not being allowed to take out a line of credit should they refuse to purchase the product.

In some extreme cases the PPI policies were completely irrelevant for the customer and some were unable to claim when they were made redundant or became ill.

The PPI scandal has its origins in the mid-1990’s, but the revelations didn’t fully surface until 2011. And since then a billion pound industry has grown from the scandal, with companies dedicated to claiming compensation back from the banks on the individual’s behalf.

Even now banks are still running into trouble and scandal, and it seems every few weeks there is a new scandal immerging from the high street lenders and the FCA are now hitting them with huge fines to the tune of millions and millions of pounds.


Get the best online trading services from Mocaz financial markets

online tradingAre you looking forward to the best online trading services? Well you have to make sure that right amount of research is made by you to ensure that you get a genuine one that would not make you get worried at all. In this case you can definitely try to look forward to Mocaz financial markets that happen to be a global provider of online trading services. It also goes a long way in providing traders with the lowest spreads possible and also proves to be one of the most reliable liquidity providers. This in turn makes it possible for traders to get the ultimate forex trading conditions in the best way.

There are many forex traders who do not have good idea about the market condition and still invest a lot of money into the market. In order to avoid this and get the perfect one Mocaz financial markets makes it possible to provide with all important information as to how to trade forex in the best way without any problem at all. With a wide range of different tools it makes the trader to trade wisely in the best way.

Reviewing the trading performance history is also made possible that has added another feather to its cap. Clients get the opportunity to view, research as well as monitor the best traders. This does not end here as they also get a good chance to AutocopyTrade those trades that are made by experts and that too automatically. So you can always stay yourself on a much safer side with its superior technology that makes it possible for you to provide fast as well as easy access to the financial markets. With lower spreads, you can also try to save quite a lot of your time and money in the perfect way.

Five foundations of money pyramid

Blog 21 Apr 09 Money pyramidAre you ever overwhelmed by credit card repayments? This is probably because you did not prepare everything in advance. For your info, a study says that people, who succeed in managing finance, did this based on a pyramid system. Financial planning requires a thorough action in every element involved. Saving for old age is the action you should do. In this article, I will describe some things that form the foundation of the money pyramid.
Cash Flow
To develop a comprehensive plan currency, the cash flow needs to be controlled first. This step is a basic step of discipline in managing the flow of money. This step is basic of your planed money pyramid.
Risk Management
Risk management is a structured approach to managing uncertainty in a financial planning. It can be practiced by providing insurance that includes health, life, education, and so forth.
Investment is an important thing that can ensure your financial condition in the future. You need to learn the ins and outs of investing or can hire a professional to run it. You should ask for this advice from your family or friends.
Tax planning
Tax planning is the first step in tax management. Tax management is a means to fulfill tax obligations properly, but the amount of payable tax can be minimized to obtain the expected profit and liquidity. After this step is done, then the next step is to carry out tax obligations and tax control.
Planning of land investment
We already known that land prices will always tend to increase from year to year, because the land cannot be created and the number of people who need land continues to rise rapidly from year to year. You need to invest in this sector so that you can have greater financial potential that would be increasing each year.

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Why you need to get the trusted pension advice

BFH4XH Senior couple looking at bills, sitting at dining table. Image shot 2009. Exact date unknown.In general, if an employee is treading the age of 55, he or she has to be ready to be retired by the company. In general, a company provides a pension plan for any of its “permanent employees”. The purpose of the program is to manage the preparation of employees in facing their old age. But not everyone is aware of his day, and that’s the main reason why there are many pension programs. There are several management patterns of cash in pension and each of these has its own advantages.

The problem is in the midst of the current economic situation in the UK and some European countries, there are many people who are not sure of their financial safety even though they have a guaranteed pension fund. Most people would tend to want to release their pension funds and start investing in some sectors. The biggest problem of this phenomenon is that most of them are not experienced in business and investment. Most of them have fallen in a deep regret ravine for committing many financial mistakes. Remember! The economic situation is always changing, and a good investment may be bad at the other day. What you really need is an adaptation in managing your cash in pension.

For those of you who are worried about the situation, you can take advantage of a professional advisor for your pension fund. They will ensure you to understand your pension fund and if you someday want to invest your pension fund, they will make sure you DO NOT crash into the regulations that is applied in the UK. Never choose a non-FSA approved advisors because everything needs to be done with your pension fund must be executed with caution. Even if you choose the good ones, you’d better make sure you have taken the wisest.


Easy Steps to Improve Your Credit Score

Credit ScorePeople are often falling into the traps of some sort of financial crisis. This might be slightly disturbing since it disrupts the normal flow of life and people need to come up with solutions that would help them cope with these problems as soon as possible. Saving money in order to clear off debts is no longer possible due to several other constraints. Had that been a viable option, then people would have done it long back without taking help of any of the loan types. But unfortunately such is not the case and people need to look up at the various loans and also make sure that their credit score is not getting affected. The trick is to keep the credit card balance as low as possible, in order to avoid loan problems and then look up the solution for debt consolidation loans for bad credit score. Avoiding bad credit score is a must at all times.

  • Avoid Impulse Opening – Impulsive behaviour has its own set of benefits in life, but not much when you are trying to improve your credit score. Hasty or impulsive decisions by making large purchases have a negative impact on your credit score. Most retail stores offer lucrative discounts in case of credit card holders trying to take advantage of their situation. The attractive discounts bring out the impulsiveness among credit card holders all the more and thus they find themselves in the middle of a financial crisis very soon.
  • Check Reports to Avoid Errors – Scrutinising your financial stability is also extremely important in order to assess the kind of financial responsibility you have. In case there are reports of any kind of discrepancy, then all that is taken into consideration immediately. In case the discrepancy continues to stay, then the chances are high that you will get the scope to improve your credit score.
  • Make on Time Payments – One of the fundamental ways of keeping your credit score as low as possible is by making on time payments. In fact, the main idea of debt consolidation for bad credit score is that it makes sure to keep away from a bad credit score. Missing the payments within their due date tends to affect the credit history in a negative way. Debt consolidation loan is one of the easiest ways to make sure that the payments are on time so that the credit score remains good throughout.
  • Know in Detail about the Credit Score – Having clarity on your credit score is extremely important because that would help you to know whether you are on the right track in terms of finances. So be aware of your credit score always to know whether you have any small debts that you need to pay off immediately or not. A credit score whether good or bad helps people to analyse their financial strengths and weaknesses, this in turn allows people to assess their financial stability and the necessary steps they need to take in order to work on their weaknesses.
  • Restraint from Applying for Credit Cards – Credit cards are a temptation hard to resist. However, many people find it extremely difficult to keep away from getting credit cards for themselves. Hence, for those people a word of caution, the more you apply for credit cards, the higher are the chances that you will be in a pool of financial debt. So always make sure that you never go on a credit card application spree because that is the stepping stone that welcomes financial problems.
  • Improve Your Score through Credit – In case your financial condition is such that you are already running on the lines of having a bad credit score, then it is important that you take the necessary preventive steps and that too as fast as possible. The best way to improve your bad credit is by applying for a secured credit card. These cards are called the “secured” cards because you need to give a deposit that the cardholder can put against using the card. This deposit acts as the limit of the credit card, making this credit card more of a debit card with a fixed credit limit. So through this approach you can easily make sure that you credit score constantly improves.
  • Take Professional Financial Assistance – Maintaining a good credit score is extremely crucial and that is the primary reason why many people feel the need to take financial assistance before it is too late and things go out of hand. Financial advisers can do the necessary negotiation with creditors and help you track down the path that is best for you. So get in touch with an experienced financial professional so that you never run the risk of having a bad credit score.

These are some of the basic steps you need to take well in advance in order to avoid having a bad credit score.