PPI Claims

Simplicity Claims Blog

Find out more about claiming back mis-sold payment protection insurance on loans, mortgages and credit cards.

The FSCS and PPI Claims

by Simplicity Claims on November 18, 2010

If you have taken out payment protection insurance with a firm which is no longer trading, it may still be possible to pursue a claim provided that the policy was sold to you on or after 14 January 2005 and the firm was an authorised financial services firm.

We are currently processing claims on behalf of our clients were firms such as Bright Finance and Picture Finance are unable to meet any claims against them. The process is somewhat different to other types of claims because the claim will need to be submitted to the Financial Services Compensation Scheme (FSCS), which deals with claims where the company responsible for the sale of PPI becomes insolvent or ceases to trade.

The company must have been declared to be in default by the FSCS. If you are unsure about whether the firm which sold you the payment protection policy is no longer trading, we can check this on your behalf.

The FSCS will offer a compensation award equal to 90% of the claim if it can be demonstrated that the policy was mis sold to you.

Related Posts

  • PPI Claims are about the sale and not the product
    There is nothing inherently wrong with payment protection insurance. The issue we have is the way in which it was mis-sold to consumers. Some people rely on payment protection to cover them if they...
  • Check your loan agreements for mis sold PPI
    As we stated in our previous post where we were discussing the large bill faced by most of the UK banks with regards to PPI mis-selling, many people have taken out one of these payment protection insu...
  • It pays to shop around for payment protection insurance
    Although our job is to reclaim payment protection insurance on behalf of our clients, we do recognise that in some circumstances it can be beneficial to take out one of these policies. If your lender ...
  • Unemployed unable to claim on their PPI
    Unemployment has fallen slightly over the last quarter but still stands at 7.7% according to the latest figures. Many people took out payment protection insurance to shield them from difficulties s...
Share |