Summary
Around 50% of borrowers get Payment Protection Insurance for their loan. It would appear that many are being ripped off. This article investigates the pitfalls and the solutions.

Loan cover - watch out for Payment Protection Sharks

By Michael Challiner

The Financial Services Authority (FSA) has been investigating the way Payment Protection Insurance is being sold by loan providers which include some of the UK's biggest banks and building societies. And it's big business. Sales of PPI as it's called, earn lenders more than £1billion a year.
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