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Archive for tag: Claiming

Frequently Asked Questions On Claiming PPI Compensation

Claiming PPI compensation you are rightfully owed is, in most cases, simple and straightforward. The paperwork is all present, PPI is clearly marked and the reasons for mis-selling are also clear.


These customers, within weeks, will have a PPI compensation settlement. They can take the holiday they have not been able to afford or maybe pay-off some debts, invest in some stocks and shares or simply enjoy their bank account being back in the black.

But, for other customers, the journey is not so smooth…

I have no paperwork and the August 2019 PPI deadline is looming. Does that mean I'll miss out?

On one hand, you want to make a claim for PPI compensation but on the other, you need to be 100% confident you have a PPI policy, not easy when you don't have the paperwork.

It can be tempting to put a claim in, without really knowing but you can find out. You can ask your bank or lender for more information - read on to find out how.

How PPI can be 'tested'?

If there is no paperwork, the following courses of action can be taken:

  1. Contact your bank or lender asking for a copy of the original documentation, along with any additional paperwork. You can also ask them if there is PPI on any of your accounts and they should tell you. We can do this for you but we will need written permission from you, as we do to continue with your claim. Banks, lenders and financial institutions have been told that they must no longer charge customers for this service.
  2. If this fails, for a small fee, you can join an online credit reference agency. When you take out a loan etc. there is a credit search made with these agencies and a score applied to you. This way, banks and lenders know how much of a risk they are taking. Paperwork, or copies of it, is sometimes lodged with these agencies and may be available.

What happens if I am in debt? Will I get my PPI settlement?

If you have significant debt with a bank or other lender, claiming back PPI compensation could see you wipe out any debt and still be left with a lump sum. If you are due PPI compensation, the bank or lender may apply it against your debt, although this is unlikely. After all, this is your money. But, if you have an IVA, the situation is different. Contact our team for advice.

If they say no to PPI compensation, is that it?

Many people think that if the bank or lender refutes their claim for PPI compensation, there is nothing more to be done.  You can refer your case to the Financial Ombudsman - or we can do so on your behalf - and they will make the final decision.

With the August 2019 PPI deadline only months away, isn't it time you made your PPI compensation claim?

Think You Know Everything About Claiming Back PPI?

Then take our quiz and see how you do!

Everyone has a PPI claim… or do they?

Not true! Claiming compensation for mis-sold payment protection insurance (PPI) is not automaticand just because you have a policy does not mean that you are automatically entitled to your money back. You will need to show that you were mis-sold it.


If you were off work with a bad back, the PPI policy would NOT have covered you

True! There are many exclusions under the terms and conditions of PPI, some of which are better known than others but not at the time that people bought into the policy. In terms of medical exclusions, a 'bad back' were not seen as a reason by which the policyholder could claim on the policy. In terms of more serious spinal injury, you may have been able to.

If you had depression or another mental illness that prevented you from working, you would be able to claim on your PPI policy?

Not true! Again, in the very small print which was easily missed was that some PPI policies did not cover mental health issues or illness. Many people are aware of the debilitating effect that mental health issues have on people and despite all the recent help and raising awareness, the PPI policy was not conducive to helping people in this way.

If it was a joint loan, it was a joint PPI policy?

Again, not true! The PPI policy was usually assigned to one person. If you wanted both of you covered you would pay for an insurance policy each. Many people were not made aware of this at the time of purchase and so when they thought they would be covered by the policy, they found that their claim was invalid.

PPI has a low payout rate?

True! Investigations found that PPI policies paid out in only 15% of cases and when they did, the process was slow and laborious, another criticism levied at the banks and the PPI policies they sold.

Payment Protection Scotland is a leading claim management company

True. We are incredibly popular as a claim management company and successful too. We welcome enquiries from everybody. If you would like more advice on your potential claim, as well as more information on how we can help you get your money back, all you need to do is call us. There is no obligation either!

Your Easy ‘How to’ Guide for Claiming PPI

The FCA is urging anyone with a PPI claim to make a decision - and that means deciding whether to claim your money back or not. This is our quick, no-nonsense 5-minute guide on how to claim compensation for mis-sold payment protection insurance (PPI) before the August 2019 PPI deadline.

Take -it -easy

Step 1 - Finding out if you have PPI

If you are super-organised when it comes to paperwork and documentation, then this step shouldn't be much trouble. If you have lost paperwork or are unsure what it is you are looking for, then read on.

Knowing a little bit about the history ofhowPPI was mis-sold will help you understand what it is you are looking for.

PPI was sold alongside loans, mortgages, store cards, credit cards personal or unsecured loans etc. Sometimes, customers were told they had to buy but in other cases, it was either part and parcel of the loan or was added after you had taken out the loan. However, it was added to your account(s), if you were told about it, you were probably told what a great product it was.

PPI was sold on the promise that in the event you were not able to make repayments on your loan, the policy would do it for you. This was as a result of a loss of income, such as unemployment or redundancy.

Look for an insurance product that promises to make repayments in the event that you couldn't.

Step 2 - Call Payment Protection Scotland

You don't need to use a specialist claim management company to claim your money back, but many people feel it is the right move for them.

As a leading and reputable company, we have helped thousands of customers to successfully claim PPI compensation. We check that you have a claim and we also check any offers or settlements made by your bank or lender are correct.

The decision about whether you take their offer or not is entirely yours.

Step 3 - If your claim is refuted

Some banks will not honour your claim for PPI compensation. They may say, for example, that it is the most suitable product for you.

You don't have to take their word for it. Either independently or through Payment Protection Scotland, you can log your complaint for PPI compensation with the Financial Ombudsman.

To find out more about how we can help you, call Payment Protection Scotland today. With a 'straightforward' claim, you could be enjoying a windfall within weeks!

Your 3-Minute Guide to Claiming Compensation

It is still possible to claim PPI compensation but there is a deadline looming. August 2019 may seem a way off yet, but you need to make a decision, and make it now, about whether to claim your money back or not. Can you afford to lose out?


What is PPI?

It is aspecific type of insuranceproduct that was sold alongside credit agreements including mortgages, personal loans, credit cards, hire purchase agreements, car finance, catalogue accounts, store cards and many other kinds of credit.

It was designed to protect you as the policy holder that in the event that you were unable to make your monthly repayments on the loan, the policy would do it for you.

But was mis-sold thousands of times over to thousands of customers and you could be one of them.

Why is the PPI compensation saga still running?

The reason why the saga has lasted so long is linked to many reasons - one is the fact that34 million PPI policieswere thought to have been sold in the UK. For many customers, they don't realise they have a claim for compensation, as they didn't know they had been 'sold' it in the first place.

The mis-selling problem

Theway in which the PPI policy was presentedto you at the time it was sold may be an indication of whether you were mis-sold it or not.

In some cases, the debate as to whether you were mis-sold the product or not is can actually be complex thus it is important that, if you are unsure, you seek advice.

However, in the main, many customers were…

  • Told the purchase of the PPI policy was compulsory
  • NOT told the limitations, terms, conditions and exclusions of the policy
  • Not told of their eligibility to claim via this policy - in other words, many people were unable to claim on the policy, as they simply were not eligible. Would you have bought it, knowing this?

But the worst case scenario was when some customers, clearly making an emotional decision to borrow money - how nervous were you about securing car finance for the much-needed more modern, reliable family car? - were told that they were more likely to be accepted for finance if they took out the policy.

Claim it back

Don't let the bank or financial institution get away with it. Make sure that you check all the necessary paperwork today for any signs of PPI - should it be on there? Does it cover you for repayments on the loan? Are you eligible to claim?

If not, the chances of you having a claim for compensation are high so why not let Payment Protection Scotland help?

Common Concerns About Claiming PPI Compensation

For many people, claiming PPI compensation seems straightforward - you tell the bank you have PPI and ask for compensation.


But many of our customers share common concerns when it comes to claiming PPI compensation. We take a look at some common issues and problems, as well as offering resolutions.

If I submit a claim and it is thrown out, does this make it a false claim?

There were, and possibly still are, disingenuous PPI compensation claims - that is, people submitting claims knowing that they don't have a PPI policy against which they can claim. Less than reputable claim management companies were also responsible for this in the early days of compensation claims too but thankfully, the profession has now weeded out these companies.

If you make a claim and are not successful, this doesn't constitute a fraudulent claim. And before we make a claim, we always check that you have a PPI policy with the bank or lender.

I am unsure whether to make a claim as I am in arrears with the bank.

The decision is yours to make but, it is important to note that there areno barriers to anyone with a compensation claim for mis-sold PPI from making a caseincluding those customers in arrears or financial difficulties.

It may be that the expense of PPI added to your financial woes, such as the fact that you 50% or more of what you paid for PPI was in commission paid to the person who sold it to you.

If you are in the process of bankruptcy, sequestration or are part of an IVA agreement, you will need to check with our team and your debt advisor as to how a PPI windfall would affect your current financial status.

Can I make a claim for compensation without the need for a claim management company?

Yes, you can. There is nothing stopping you from approaching your bank or lender directly.

People use companies like Payment Protection Scotland for all kinds of reasons, from lack of time to simply preferring someone else to deal with the bank or lender in question.

Will it drag on for a long time?

Straightforward PPI compensation claims should be resolved within 8 to 12 weeks but there are some cases that take more effort to resolve. There is also the case of commission to consider too. If a bank refuses your claim, you can ask the Financial Ombudsman to consider your case, something that we will happy to do.

If you believe you have been mis-sold PPI or would like to check that you have not paid more than 50% in PPI commission, contact our team today to find out more about our fantastic no win, no fee service!

Is Claiming PPI Compensation Really as Easy as They Say?

Spend no longer than five minutes searching the web for information relating to PPI compensation claim and you will see a whole host of websites telling you how easy it is to claim back your money.


But is it that simple?

Most claims are straightforward

There are many, many cases of people claiming back their money with no hassle at all. This as a result of a variety of factors. For example, mis-selling is clear - the bank knew they were self-employed, for example, or over the age of 65 years etc. - and so there is no quibble.

Other claims can be more complex

Despite what various websites say, there are some claims that are more complex and some claims that become a nightmare because the bank or lender don't always follow the rules, so to speak.

Why do some PPI claims become a problem?

There are many reasons but for some people, it can take time and effort to unravel what the issue is;

  • Telephone sales

Many people were sold PPI as an 'add-on' product weeks or possibly months after they bought the original loan. There are rules about how sales can be made to you over the phone, the information that is given to you such as the cancellation period and so on. Some customers felt they weren't given all the information. Banks say that they were but with most phone calls recorded for 'training purposes', there is evidence that can be listened to. But how you interpret the call and the how the bank does can be very different.

  • Advised sales

There was a question mark hanging over what used to make an advised sale and what wasn't. In other words, when the bank was telling you it was the best policy to fit your needs and when they were making suggestions that it may have been the right policy. The rules are much clearer as a result of the PPI scandal - the bank has to advise customers in writing why a policy is the right one.

Who sorts out the PPI compensation mess?

When it comes to issues between the banks and the customer, it is the Financial Ombudsman who sorts out who is right. They also tell the bank how to put it right if it is their fault.

They don't just work on PPI compensation complaints, they work across all kinds of financial products and services. They have taken on hundreds of extra staff to try and get through the PPI complaints as fast as possible.

At one time, customers were given the impression that unless they had 'fresh' evidence, there was not much point taking their PPI complaint to the Ombudsman. But this isn't the case.

Even better news, the Ombudsman is still finding that the customer is right more often than the banks. If your claim has been refused, contact the Ombudsman for information on how to submit your claim to them. Or contact our expert team!

Claiming PPI – As Easy as They Say?

Claiming compensation for mis-sold payment protection insurance (PPI) should be simple and straight forward but there are a few issues that can creep up and cause a problem or two…

Not Know for Sure You Have PPI

The first and foremost piece of information is to ensure you have all the facts relating to your PPI policy.

This starts with knowing that you definitely have a PPI policy. Finding a policy number, evidence of premium or monthly payments on statements and original documentation are pieces of information that will be helpful in making a claim.

Not Making Claims on ALL PPI Policies

Did you know that it is more than likely you will have more than one PPI policy? this is because the product was debt-specific and therefore applied to any loan, credit card, car finance, store card account etc.

Look through all documentation relating to all loans and from all lenders.

Lenders Can Tell You if You Have a PPI Policy with Them

There was some confusion at the start of the compensation process that placed pressure on the consumer and the consumer alone, for proving that they had PPI in the first place.

There has been a monumental shift in attitude from the banks and lenders, however. They are now more willing to provide their consumers with the information that they need.

Banks Must Respond Within 8 Weeks

The bank or lender who sold you the PPI policy has a stringent set of deadlines by which time they must respond to your claim for compensation.

With banks and lenders under enormous pressure, they are sometimes falling foul of these deadlines with some banks receiving fines for doing so. This is why they are taking on extra staff who are dedicated solely to dealing with PPI claim from customers.

If they don't respond to you, contact them again and also refer your case to the Financial Ombudsman.

The Majority of PPI Claims Are Successful

The truth is that most people who were sold PPI were mis-sold it. It was expensive, had a limited range of cover and several exclusions which customers were not made aware of.

In other words, you could be paying for a policy that did not offer you any cover at all!

Payment Protection Scotland is a Leading Claim Management Company

A claim management company helps people to make claims against companies, such as personal injuries claims. In our case, we specialise in PPI compensation claims.

This means that you will benefit from our many years of working with customers to claim PPI compensation, sometimes in complex cases. And we can help you too. Call us NOW!

Claiming PPI Compensation – A Lot of Effort for a Measly Payout?

My friend Joan decided to apply for PPI compensation after she saw it was on her credit card account. She had to fill in form after form, as well as talk to various people at the bank. After all that, she got £84 back.

Is it really worth all the hassle to claim PPI compensation for such a small amount?

There are many things that put people off making a compensation claim for mis-sold payment protection insurance. One reason is the perceived 'hassle' of making a claim.

They read stories online or in newspaper that talk of customers filling in many forms, talking to bank representatives and even taking their case to the Financial Ombudsman Service only to find that when compensation is awarded, it was a lot less than they thought.

There are many factors that contribute to the total amount you receive back but irrespective of whether it is a few pounds or thousands of pounds you are due in compensation, making a claim is important…

It Is YOUR Money!

Let's consider the case of someone robbing someone else of cash in their purse. You are sat in a café when someone reaches forward, takes your purse or wallet and takes cash out of it. How would you feel?

Would it feel just as bad if they took £10 or £1,000? Now consider if the person doing it was known to you. And they knew that you didn't have a lot of money or that you struggle from month to month at the moment. How does it feel now?

This is how banks and lenders acted toward their customers. On one hand, your bank professed to know you and have your best interests at heart and yet, they sold you a policy that they know you wouldn't be able to make a claim on.

Now how you do you feel? Does it matter if it is £50 or £50,000?

A Form of Mass Protest

Not all of us are political animals but by joining in the PPI compensation 'movement', you along with thousands and thousands of other customers are taking a stand against the banks and lenders.

For too long, the banks got away with behaviour that was unsavoury and broke fair competition and selling rules. They carried on selling PPI not for a few months to a few people but over years and years to millions of people.

So far, the banks have paid out £24.2 billion in PPI compensation and the figure is still rising. It doesn'thow muchyou are due back in PPI compensation but the fact ofmaking a claimis more important.

Take a stand - call Payment Protection Scotland today!

Claiming PPI compensation – what you need to know!

Claiming compensation for mis-sold payment protection insurance (PPI) should not be onerous or difficult but, some consumer organisations say that some vulnerable customers are still finding it difficult to get their money back.

With an impeding June 2019 deadline, a public awareness campaign should make this easier. But why wait for the deadline? Start your PPI compensation claim today.

Step 1 - Checking your accounts

Firstly, you need to ensure you are checking the right accounts. With PPI, many people assume it is only bank accounts - they certainly have the biggest PPI compensation bills - but it affects any account in which you borrowed money or arranged credit.

Therefore, check: store cards, finance agreements with high street stores (Land of Leather was one of the first to be fined for mis-selling PPI), car finance as well as loans, credit cards, mortgages etc.

Step 2 - What are you looking for?

PPI was not always referred to a PPI. Companies, lenders and banks sometimes called their insurance by different names.

If you are unsure, check what the insurance product offers. If it promises to make repayments on the loan should you be unable to work because you are too ill or because you lost your job, then this is a PPI-type policy.

PPI is also debt-specific. This means that it is linked to that one debt. This is why some people have more than one PPI policy - you could have one on a credit card, another on a loan and so on. Check everything you have and check it carefully.

Step 3 - Tell us why you think it was mis-sold to you

As part of your compensation claim, you will need to tell the bank why the PPI policy was mis-sold to you;

  • You may not have realised you had it until now
  • You were retired when it was old to you
  • You were unemployed at the time it was sold to you
  • You have a pre-existing medical condition which you thought was covered by the policy
  • You were not made aware of the terms and conditions of the policy - if you had you would not have bought it

There are other reasons so so why not tell us your PPI story?

Step 4 - Tell the bank

Some banks and lenders have online forms that can be completed and submitted. Others want to write in with policy numbers and so on. This can be confusing as well as off-putting for some people.

This is why we offer a professional claim management service, specialising in PPI compensation claims. Call us today.

Claiming PPI Compensation

Do the figures stack up? Claiming PPI compensation

Ever wondered how the bank or lender work out what you are owed in compensation having been mis-sold payment protection insurance (PPI)?

And how do some claim management companies who text you out of the blue work out you are owed £3,256.37p in PPI compensation?

The PPI saga has been rumbling on for many years, with the first case beginning in 2011. Over time, thousands of people have claimed their money back, enjoying a windfall of a few hundred pounds to thousands of pounds.

But how do they work it out?

When PPI compensation first started to be paid, banks made offers; they were considered quite derisory offers of £500 or so. Customers balked at this idea as did the consumer organisations. They said this wasn't fair and that people should receive all their money back - and interest too.

Broadly speaking this means you should get back:

  • All the premiums that you paid over the months of years you had the policy
  • Interest should also be refunded at 8%
  • You should also receive back any fees or charges that were made against your account as a result of PPI being added to it

Can Payment Protection Scotland check what I am offered? Yes, we can. In fact, as part of our no win, no fee service, we make sure that we work out what we think is owed to you and compare this to what the bank or lender is offering.

There have been cases of banks under-compensating and it was a claim management company that first noticed this for one of their customers. By not repaying him charges and fees incurred because the PPI premium pushed his account over the credit limit, the customer was set to lose out on thousands of pounds.

But about claim management companies and their text messages?

Many people have fallen for these texts, known as phishing or spam texts. They imply that they already know how much the customer is owed in compensation.

This is impossible simply because no one can access your personal information, let alone work out how much PPI compensation you could be owed, without your permission.

So, if you do have a text that says you are owed X amount of money in PPI compensation, you know that this is simply not the case.

At Payment Protection Scotland, we need to assess not only whether you have PPI on an account but also if you were mis-sold it and, if you were, only then can we accurately calculate how much PPI compensation you may be entitled to.

Find out now how much you are owed in PPI compensation. Call Payment Protection Scotland.