PPI Claims

Simplicity Claims Blog

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

Welcome Finance declared in default by FSCS

by Simplicity Claims on March 3, 2011

On 02 March 2011, the Financial Services Compensation Scheme (FSCS) declared Welcome Finance in default. This means that anyone with a PPI claim against Welcome Finance will now have the option to refer the matter to the  FSCS, who will investigate the claim and issue compensation, where appropriate. A firm is declared in default when the FSCS considers it unlikely that it is unable to meet any claims against it.

The Financial Services Compensation Scheme can only investigate claims of PPI mis-selling where the policy was sold on or after 14 January 2005. If you have taken out PPI with Welcome Finance after this date, you may still be entitled to claim compensation, although the FSCS limits any compensation payouts to 90% of any loss suffered.

We handle all claims including those where the company which sold the policy is no longer trading or unable to pay compensation. We can handle all claims which are eliglbe for referral to the FSCS, i.e. those where the advice was given on or after 14 January 2005. If you have been sold payment protection by Welcome Finance and wish to claim this money back, contact us by completing our claim form or give us a call on 0845 475 0505.

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