Financial Services Compensation Scheme Chief Executive Mark Neale said that the UK will need a few more years until it sees the last few breaths of mis sold PPI. They project an increase of 2,000 PPI complaints coming into the FSCS this 2014 and that the end of the flurry of complaints is yet to come.
The Financial Ombudsman Service said that the number of payment protection insurance complaints had fallen from over 216,000 the first half of 2013, into 190,000 the second half. However, according to Chief Ombudsman Tony Boorman, the numbers are still high. He said that the UK is also still a ways to go until PPI is finally sorted out.
The FOS still handles 1,000 PPI complaints on a daily basis with 8 out of 10 complaints from different banks in favour of consumers.
UK’s financial sector had set aside a current total of £25 billion for PPI recompense. UK’s big banks account for more than 70% of PPI complaints in the last half of 2013.
PPI is an insurance product designed to repay loans, mortgages and credit cards in case consumers get sick, have an accident or become unemployed. Many consumers were sold the insurance when they did not need it.
People often find a person rude when he or she takes so much food from a buffet and then leaves it half-full or barely touched. One might say it is a waste of blessings. But in analogy, it is one’s responsibility to finish the plate of food they get, despite the amount, because everything can go to waste.
Irresponsible people waste many things, especially some other person’s time. However, there are people who just want to get the entire buffet for themselves because they have the ability to eat everything on their plate. Most humans are like this; we have this unlimited urge to control other people.
Control is important to retain one’s sense of individuality. If humans have control over the events surrounding them, they grant themselves the ability to live. The more they control, the more they recognize that they are living and thriving.
However, many people want to live their life their own way. Sometimes, this plan involves controlling people consciously or unconsciously to move exactly as they please to obtain their desired results. This urge to control gives them satisfaction.
In the world, this invisible war of control stretches from politics, with politicians, lobbyists and corporations, and to a molecular level where the strong live and the weak fall in the bacterial kingdom. Control, and self-fulfillment, is both a curse and grace of both an intelligent man and a primal creature.
But we humans have the ability to control our urge to control. This is what sets them different from the rest of the living organisms in the world.
In a practical world, you want to ensure that you have all your risks checked and assessed properly. Practicality ensures that you get maximum profit and use for everything you own and invest. This is why everyone has ideals and expectations about everything including the function of people important to them and they love.
However, this is the reason why many people are alone. Overanalyzing other people to avoid the pain that comes with relationships makes relationships superficial and something of an obligation rather than something genuine. People know their own shortcomings and they try to hide it for the sake of having someone accept them for who they are. They also analyse people to see if they will fit with them naturally.
The sad part is that none of them accepts the other for who the other person is. The positive experiences are the ones that last forever with them. Without acceptance, there is no true love between two people. It only fulfils the need to ensure that one doesn’t feel alone in the world.
When you learn to accept that love is about accepting the other for who they are and not just because of the good sides they show each other, then that is true love that can last a lifetime.
A true test of love is when two people fight each other, yet they still care for each other despite all that has happened.
I’m writing anonymously on a blog because I want to share something that only high-profile people know. I’m a businessman; I’ve built myself up from scratch since 1985. During that time, I was 20-years old. I designed a ground-breaking computer program that aided many local companies the power to defend their computers against viruses. This was replaced in the future by better anti-virus and anti-rootkit software.
I was earning in the big money during such a time. Until now, patents for my work earn me royalties as future companies build and improve their own work on my earlier works.
I was finally enjoying life around the year 2000. I’ve bought a great house. I have my private pool. I could throw as many parties as I wanted with the money I have. But then, I wasn’t happy with the millions I earned in the bank. My family is happy right now, all my children have gone to college and one already has a family and she is excelling in her own business.
In short, I was bored. I lost my way after my objective was completed.
When we complete objectives, we lose track of ourselves. We may be proud of our work, but we’re left to question whether we can still top the work we’ve done. We can always question if we can improve ourselves.
When one is left by the feeling of achievement, it is when they question their own integrity in their own craft. This is a struggle in itself.
When my life became comfortable, I knew I needed some sort of struggle. So, once again, I tried doing something hard. This time, I tried to learn something I completely dreaded in the past; writing.
After reading this post, I guess you won’t find any struggle of mine to find the right words to fit my statement. I guess I’m improving, but it this is still a struggle, a struggle that helps me feel I’m alive.
One famous quote reads that people would be very wise if they only admitted their mistakes earlier. Making mistakes are innate with humans. Being imperfect beings, the brain and emotions equate the balance inside humans. Humans learn through mistakes, regardless how big and small.
This new year is an opportunity for people who had made mistakes to learn and be better people. Surely, many people had made their own resolutions that would change their life and their interaction with other people. The celebration of the new year is to release the negativity that was born from the year past and make things turn well.
It is not restricting to impose an ideal resolution upon yourself, but you can only achieve your resolution if you accept that you can fail in doing your objectives at any time. People who know they can fail and accept it often try the hardest simply because they recognize they have nothing to lose in trying.
You can always try, but you must also know that you can fail. But if you do not try and make a mistake, there is no chance that you could learn what you need to learn.
There is no shame in making mistakes, but there is shame in regretting. Learn from your mistakes, that is one resolution that is easily achievable for anybody this 2014.
Detachment is an important part especially in the professional world; your actions should never be attached with emotions and instead dealing with practicality and the better good is important. However, when you bring this to your own social life, with friends and family, this could cause coldness and distance between you and them.
Human attachment is born from accepting the problems of another person, a group of friends or your family members. You vow to carry with them these problems as they would carry yours, which develops trust.
While most people are encouraged to be independent to perform well with their own professional tasks, dependence and opening up to other people is another thing. Dependence means you would need them to carry your load. When you open up, you could carry your own load, but you could also depend on them to help you sort things out.
Some people find depositing one’s load to other people, even to their closest friends, as a sign of weakness. While it could possibly be, especially for people with high principles, depending on other people is a sign that you are still human; that you are capable of error and only by working together with people you trust could you find a proper solution.
Opening up to other people is like seeing your doctor. You are not sick, but you are not feeling human at all. It is never a healthy thing to deny your humanity and dedicate yourself entirely to your passion and ambition. Every human needs interaction, trust and acceptance.
People have something to fear possibly because of a simple phobia, a trauma from a previous time, or possibly because they question their capability to cope should the situation happen. Many people dread the presence of fear because it feels like it is a waste of time compared to the comfort and safety they enjoy without it. However, fear is important in one’s life.
Fear can make things easier to understand. When you fear something, you might feel confused because it limits your capability to reason, but this certain kind of fear reveals to you your capabilities, your personality and your weaknesses and strengths as a person. Without fear, you have no gauge as to the limits of your body.
However, what you should not fear is breaking the limits you have. Living in constant fear of things you recognize will not make fear an essential part of your improvement, but only a factor that could drive down your personality and everything else about you. Fear must only be a signal for you that it is time to improve; that what you are so afraid of should be something that will help you overcome anything.
The recognition of fear is normal in any human being. It is part of any human’s existence in the world. However, doing nothing about one’s fear will only make things worse and it could even drive one insane from such instances.
Imagine that your identity is your clothes. This is your true clothing, the way you want to appear to other people and the clothes that make you feel comfortable with others. Even if your identity is sturdy, it could sometimes look boring to you or somewhat you fail to improve your look and outlook in life. This is when you might want to change your clothes.
Spiffing yourself up by changing your identity might seem drastic and counter-productive because you know yourself very well and changing the core of your values is quite different. However, trying to have a different personality at one point in your life, even for just one day, to a different crowd, will enable you to see things differently, which could give you an idea about what to do with your life once you slip back your originally identity on.
For example, an artist with a creative block is probably spending too much time becoming an artist that he or she had forgotten how to think and see things like a normal person. By living a “normal” or socially-common life, an artist can find new perspectives given his or her trained eye and mind while struggling to fit into a normal lifestyle just to observe what other people find exciting, boring or similar. This is where he or she can find a unique style of expressionism he or she is looking for.
It does not mean that you would permanently wear your new identity. Just try something new, like a haircut. Wait until it grows out and when you get back to who you were, you’ll realize you have learned many things about yourself and the world.
The released picture of Payment Protection Insurance scandal has opened the eyes of many in the world and making them know what all is possible in this world and how many different ways are there to rob the people’s interest.
With Stringent Rules being imposed to safeguards the interest of the Subscribers to PPI schemes, the authorities are playing a very important role which they should have played way back. One of the most important rule, Claims related companies need to sign a proper contract with the policy subscribers and they have to abide by the rules mentioned in the contract.
The easiest way to keep an eye on every flourishing company and particularly these Insurance Claiming agencies is to follow the policy of licensing. According to this, proper licensed needs to be acquired before starting the actual work. Till date 3000 Claims Management Companies, such as PPI Claim Back Co, have been registered at the Ministry of Justice (MoJ) to work in the sector.
If any company is being suspended due to some reason, they must inform their customers at least 14 days in advance and should take proper steps to safeguard the customer’s interest failing which they can be strictly dealt under laws.
Many forfeits has been caused earlier when Claiming agencies rules were inaccessible or hidden.
As a new policy which has to be abided by every agency, they should put all the rules and claiming restrictions on their websites so that the subscribers can properly understand the various rules and conditions before buying the policy.
In an upshot, these rules should have been imposed way back but still it’s better to wake up then it’s too late. And surely these strict rules will help the customers in the future concerning such types of Payment Protection Insurance policies.
As children, many people believed that the world is theirs for the taking; that by trying hard enough, they can reach their dreams, even the stars through a fair system promised by a government, by superiors and by peers. However, once they reach the age of reasoning and responsibility, they discover that the world they were promised does not exist at all.
This is the same when you are promised of a good life after your undergraduate education where you could use your skill set to your advantage. This is also the same when your employer tells you the many benefits you could gain in the company, including an infinite chance to improve your career, but they fall short on their promise.
When reality hits you, it hits hard, but you must understand that this is the purpose of reality.
Your purpose as an individual greatly depends on your end goal; that goal is whether you would continue chasing your dreams, or you would settle for something realistic. In any case, each choice will present a challenge from reality and your capability to improvise will help you greatly in making the right choices.
It is very important that you reconcile your expectations when reality hits you. Purpose and existence becomes apparent when you finally know what reality could give you and the way you learn to live with it.