Payment protection insurance should be a beneficial product. It should protect borrowers by ensuring they have a means to meet scheduled repayments even if they were to become ill, suffer an injury, or become unemployed or redundant unexpectedly. The reality, though, is that many payment insurance policies have been mis sold to borrowers and they have been left with no wages to cover payments and no protection from a policy that they have been paying for years. In light of the number of cases where this has happened, the Office of Fair Trading backed by consumer watchdogs and consumer...