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Archive for tag: PPI Compensation

What’s the Current Situation for PPI Compensation?

Everything you need to know about making a claim for mis-sold payment protection insurance in one easy-to-follow guide.


At Payment Protection Scotland, we want to make sure that ALL our customers get the right information. Over time, things have changed which is why we want you to have all the latest information about making a claim for PPI compensation.


There has been a lot of talk in the media and across social media channels about time running out on making PPI compensation claims.

Most of these claims refer to a blanket PPI deadline who has been set for 29th August 2019, only a few months away.

There are other deadline too, such as the length of time the account has been active, as well as those imposed when banks wrote to customers inviting them to make a claim. Don't let a deadline spoil your PPI windfall - act TODAY!

There is an active promotional campaign

As part of this deadline, the Financial Conduct Authority said there would be a nationwide and far reaching campaign to promote PPI compensation claims.

This is because many people don't realise that they are eligible to make a claim and that the compensation they could receive could be worth thousands of pounds - money that the bank took in payment for a policy that was of little or no use to them.

The Financial Ombudsman Service are still snowed under with PPI complaints

The Ombudsman deals with disputes between customers and financial companies relating to all kinds of financial products. This includes PPI complaints.

  1. You will need to approach your bank or lender first, for compensation.
  2. If the bank say no, you can ask the Ombudsman to make the final decision.

They release regular updates on how they are dealing with PPI complaints and the number of cases they resolve, as well as receive in a month.

The figures paint an interesting picture. After seven years of PPI compensation, the Ombudsman are still having thousands of cases referred to them each month.

And, they are still finding in favour of the customer in the clear majority of cases.

Payment Protection Scotland are still taking cases

With the deadline in place, the PPI compensation debacle is finally shutting downbut there are still several months until the deadline date. It is not too late to complain about mis-sold PPI.

But you must lodge your compliant quickly. Make a decision to call Payment Protection Scotland today to talk to us about our amazing PPI compensation claiming service.

Call our team today and benefit from the latest expert advice on PPI compensation claims.

How We Help You to Make a Successful PPI Compensation Claim

We have been a leader in the field of PPI compensation claims since customers first started to claim their money back in 2011. With the PPI deadline if August 2019 mere months away we thought we would take a look back - and forward to the next few months - to tell you how we work with you to make successful PP compensation claims.


With one of the highest success rates, this is how we do it:

1. We don't promise what we can't deliver

It really is that simple.

We don't promise PPI compensation, neither do we guarantee it. What we do guarantee is a faultless service backed by a thorough assessment of your claim.

2. We do assess each case on its own merits

Every claim for PPI compensation is different. Some are complex, others straightforward. Some customers have many PPI compensation claims, others just the one claim with one bank for their money back.

This is why we assess each claim on its own merits because no two claims are the same.

3. We don't ask for money upfront

You should avoid any company who asks for you to make 'payment on account' etc. This means they are not confident in either their abilities to make successful claims or that your case for PPI compensation is weak but they continue with it anyway.

4. We do stay in touch (and ask you to do the same)

Communication is key when it comes to tracking your case. There are also times when we need answers to questions and, the sooner we get these, the sooner we can continue with your case.

We can communicate with you in a variety of ways - phone calls, texts, email and letter - and we ask that as our customer you do the same. For example, the bank or lender may write to you and we ask that you send us a copy of this letter so we can action it etc.

5. We don't just take on 'easy' cases

Some cases are simple and straightforward, the entitlement to compensation for mis-sold PPI obvious for all to see.

But there are cases that are more complex, that take more time and effort to resolve. We don't back away from these cases as other companies do. We will take on any eligible claim for PPI compensation.

6. We do offer the best service around… every time

There is no obligation to continue with your claim. You may call us, have a good chat but decide that our service isn't for you. And that's OK!

We also offer our services on a no win, no fee basis and that means no money upfront, you get your compensation and you then receive an invoice for our services. But, because we have a transparent fee charge, you know how much you will owe us.

Our service is simple, yet powerful - call us today!

Would You Know What to Do If Your PPI Compensation Claim Becomes a Complex Case?

Claiming compensation after being mis-sold PPI can, most of the time, be a straightforward process.

You tell the bank why you believe it was mis-sold to you, the bank considers your case and if they agree that PPI was mis-sold, they will compensate you accordingly.


In other cases, the arguments for and against mis-selling are more complex. This may mean a longer resolution time and more effort to resolve the case.

And this is why in some cases, having a company like Payment Protection Scotland on your side is a worthwhile move on your part.

Would you know what to do in the following circumstances?

The bank said you didn't have a claim because you don't have PPI

Not so common these days but a few years ago when the PPI compensation flood gates were opened, banks tried to save face and profits by telling people that they either didn't have PPI, they didn't know if they had sold PPI to customers or not or that they had PPI but were not due compensation.

You can check in other ways if PPI was added to or was part of a financial product. Call our team and they will tell you how.

The lender said you are not entitled to your money back because PPI was a suitable product and was not mis-sold

In a small minority of rare cases, PPI was a suitable product but suitability and mis-selling are two different things.

It may have been suitable but you were told that shopping around for a better product at a cheaper price was not an option - this is mis-selling.

In most cases PPI was NOT suitable mainly because the terms and conditions of the policy were not adequately explained. And it was mis-sold too.

You were sent a letter by a financial company you have never heard of inviting you to make a claim for mis-sold PPI

This is a sensitive one. Some companies do contact people and lead them into thinking that they have a claim for PPI compensation. When people contact them, this is not the case. Marketing tactics such as these are suspect.

BUT, some financial companies and their products are sold to other companies. Quite often, as customers, we are not aware of the name of the bigger parent financial company and so it can look a bit suspect when we receive a letter saying we are entitled to compensation and to make a claim.

Contact the team at Payment Protection Scotland to check the validity of the company name and for more ideas on how to proceed with your PPI compensation claim.

Is it Too Late for PPI Compensation Claims?

*No, but the deadline isn't far off!

There are many questions our team are asked about PPI compensation claims. Time seems to be a common issue and for some people, it may be what stops them from making a claim for PPI compensation.


But as we are about to show you, it is never too late to launch a claim for your money back (but, there is something on the horizon that will affect your claim if you fall foul of it).

My loan was years ago. Surely, I don't have a claim for PPI compensation?PPI was mis-sold to millions of customers, a total PPI fund of billions of pounds - and your money is a slice of that.

It was mis-sold to customers from as early as the 1990s with concerns raised about how it was being sold from the mid-1990s. It took until 2011 for people to start getting their money back.

To claim your money back, you need to show that you have or had PPI, as well as tell the bank why you think it was mis-sold to you.

But PPI claims take far too long to resolve - I just don't have time to make a claim! With Payment Protection Scotland on your case, you don't have to worry about finding time to make a claim or chase it with your bank because we do all that for you.

We also make sure that any settlement you are offered is for the correct amount.

Unless your claim is refuted or overly complex, PPI claims must be resolved within 8 weeks of your submitting your claim. That means you could be enjoying a pleasant windfall in the next two months or so.

I can't remember why or how PPI was mis-sold to me. That means my PPI compensation claim is scuppered before it starts!

No, it doesn't! We can work through why you were mis-sold the PPI policy and one of them is that you can't remember why you bought it. This suggests that is was foisted on you or that you were told it was part of the overall package when you bought the loan etc.

Any insurance product you purchase should be fully explained to you. Also, at the time you bought the loan, you didn't have to buy any other product and should have been given the opportunity to check out other PPI policies from other providers.

PPI was also expensive and offered very few people the cover that they thought they had.

And this is why time should never be a barrier to making a claim for PPI compensation. BUT, there is PPI 2019 deadline. If you were mis-sold PPI before the summer of 2017 and plan on making a claim, you must lodge your complaint before 29th August. After this, you won't be able to claim your money back…

… that's why you need to call Payment Protection Scotland today!

Do You Have a Valid PPI Compensation Claim?

If you are in the processes of claiming your money back, you need to tell the bank why you believe you were mis-sold the PPI policy in the first place. There are some common reasons why PPI could have been mis-sold to you but there are also some lesser known ones too. In this list, we look at some of the reasons given why PPI was mis-sold to some of our customers.


The customer already had a suitable insurance policy in place

We are dealing with many cases in which customers are claiming their money back because they already had a suitable policy or benefit in place that meant PPI was a duplication.

There have been cases in which customers were told they had to buy insurance - this is not a mis-selling reason in itself - but when the bank says that it must be their PPI, then this constitutes mis-selling.

PPI was expensive and offered a poor level of cover. By shopping around, a customer would have no doubt come across a better policy, with better cover and at a lower monthly or annual premium. But the banks didn't want this hence, if they told you your insurance cover was not good enough nor acceptable, you may have a claim for PPI compensation.

You may need to prove you had an insurance policy in place that covered your debt or income in the event you lost your job etc. We can help with this too.

If you were:

  • unemployed
  • OR working less than 16 hours a week
  • OR retired
  • OR employed on a temporary basis
  • OR working a temporary contract
  • OR you were retired when PPI was sold to you, you have a valid claim for compensation

The terms and conditions under the PPI were strict and stringent - the customer had to be working full time on a permanent basis - and did not include any of the situations covered above.

This means if you tick at least one of theseat the time the PPI policy was sold to you, you have a valid claim for PPI compensation.

Pre-acceptance for a PPI policy

This is where the box for opting in for PPI was already ticked. In other words, there was no opportunity to discuss the pros and cons of the policy, whether it was suitable for you or not.

In most cases, this opt-in box was at the bottom of a very long set of terms and conditions, and wasn't very noticeable to the customer.  

At Payment Protection Scotland, we can help you make a claim for PPI compensation. Call our friendly team today!


Claiming PPI Compensation – Is it Lot of Effort for a Small Reward?

Jenny 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 because…

… 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 knew 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?

… It is a Form of Mass Protest!

Not all of us are political animals but by joining in the PPI compensation 'movement', you along with 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 £33 billion in PPI compensation and the figure will continue to rise. It doesn't matterhow muchyou are due back in PPI compensation but the fact ofmaking a claimis more important.

Take a stand - call Payment Protection Scotland today!

10 Things You Need to Know About Making a PPI Compensation Claim

We've rounded up the ten top facts from our work as a claim management company specialising in PPI compensation claims. And this is what we found…


1. You can still claim even if you have lost the paperwork

It may seem like an inconvenience but if you know which company or bank your loan, credit card, store card and so on, you can ask them for a copy of the paperwork. They may charge a fee.

2. If the firm has gone bust/or been bought by another bank or financial company, you can still make a claim

If the lender or financial company was regulated by the FCA, you can make a PPI claim through the Financial Services Compensation Scheme (FSCS). This acts as insurance for covering the liabilities of finance companies.

3. You can take further steps if the bank rejects your claim

If the bank rejects your claim and you are unhappy with this decision, you can refer your case to the Financial Ombudsman Service. You should do this within 6 months of the bank refusing your claim.

4. PPI claims do not affect your credit rating

For many people, a poor credit rating stops them doing many things financially but claiming PPI compensation is not one of them. And it won't make your credit rating any worse but it could improve it.

5. You can make a claim for PPI on a loan that has been paid off in full

Providing the last payment was within the last 6 years, you can make a claim for PPI compensation on the loan.

6. It may be possible to make a claim on a loan with or without your ex-partner's permission

Some banks and lenders will allow you to make a claim on your own but in other cases, you will need to make a claim together.

7. PPI compensation settlements are tax-free

Compensation is you getting your money back and thus, in most cases, you don't need to pay tax on it. However, everyone's tax position varies so always check with your tax adviser, if you have one, or your accountant.

8. If you were self-employed and sold PPI, you are entitled to claim

The terms and conditions relating to PPI and self-employed status make it a product you would unlikely to have bought if you had known about them. Thus, you have a claim.

9. PPI was often sold as 'compulsory'

But it wasn't. In fact, you don't have to buy any other product from the bank or lender when taking out a loan. They may insist you have insurance but you can shop around and get the right product at a price that suits you.

10.The PPI deadline is only a few months away

If you want to claim PPI compensation on a policy that was sold to you before the summer of 2017, you must lodge your complaint by midnight on August 29th 2019 or risk losing out.

We can help you make a claim for PPI compensation. Find out in one phone call - call Payment Protection Scotland today.

Do you Know How to Claim PPI Compensation Before August 2019?

Payment protection insurance (PPI) and the saga around its mis-selling has held British banking in its vice-like grip since the mid-1990s when concerns about the product were first raised.


Compensation started to be paid in January 2011 and will continue until the PPI August 2019 deadline for PPI policies mis-sold before July 2017.

This means that if you haven't yet made a claim for PPI compensation, and you don't before August 2019,it will be too late. And this means you could be waving goodbye to thousands of pounds of YOUR money.

Making a claim: what you need to know

To make a claim for PPI compensation, you need to do the following;

1.   Find the paperwork or evidence you had PPI

PPI was added to all kinds of accounts that offered credit. Check accounts such as credit cards, car finance, mortgages, loans (personal and secured against property), store cards and some catalogue accounts also had PPI added to them.

You may find PPI as a separate policy or it may be included in the small print of the paperwork used to open your account.

Once you have located it, you have the evidence you need to approach the lender and ask for compensation.

2.   Tell them why you were mis-sold PPI

PPI compensation claims have to follow the law as laid down in the Consumer Credit Act. And that means, as the customer, you need to tell the bank, lender or loan provider you were mis-sold PPI and the reasons why.

It may be, for example, you were unaware you had PPI and therefore, this constitutes mis-selling.

Or, you may have been led to believe that it was the right product for you and yet, you were unaware that your current medical condition or age disqualified you from making a claim.

Or, you may have felt at the time, that PPI and the loan you were applying for, for example, came as a package. Some people also felt that if they didn't take out PPI, they were less likely to secure the loan they needed.

3.   Wait for the bank or lender to respond

They should respond within eight weeks of receiving your letter. In straightforward claims, you can receive your PPI compensation within 12 weeks.

For more complex cases, it can take longer and it may also mean that if the bank or lender refuse your claim for PPI compensation, you can refer the matter to the Financial Ombudsman.

Or, you can ask Payment Protection Scotland, a leading, expert claim management company dealing exclusively with PPI compensation claims, to act on your behalf. Why not call us for a no obligation chat?


Get Your Money Back – Claim PPI Compensation!

Payment protection insurance (PPI) had become the most talked about financial product in the history of modern-day banking. If you have PPI on loans, credit cards, store cards, car finance, mortgages or any other financial product and think you may be entitled to claim your money back, read on...


PPI is a BIG problem

PPI was designed to protect repayments on loans or other credit products. A sensible idea and product to buy, you may think.

The good bit…

Should you be unable to work for a variety of reasons, such as redundancy or illness, having an insurance policy that will continue to make repayments on your loan make financial sense. After all, paying regularly and on time protects your credit rating.

The not so good bit…

But, the issue with PPI as a product was that as insurance, it represented poor value for money.The premiums were high for very little cover. There were other issues too;

  • the pay-out rate on claims that were successful was as low at 15%. Compare that to successful claims on car insurance at a payout rate of 85% and you can see what the problem is.
  • PPI also added significant debt to the loan, making the affordability of loans, credit cards more difficult.
  • PPI premiums on credit cards added a large amount to the outstanding debt. Premiums were calculated as a percentage of the amount outstanding on the account each month, so the bigger your credit card balance, the bigger the PPI premium.

A problem with selling

The other issue with PPI was the way in which it was sold. The terms and conditions were also limited, offering that few people cover.

Customers withpre-existing medical conditionswere not covered and some medical conditions or illnesses were not covered. Mental health issues that may have prevented you from working were not covered and neither were spinal or back problems.

Another mis-selling issue was the way that some banks and lenders simplyadded PPI to accounts without consent or permission. This happened most frequently with credit cards.

PPI on loans and other similar products is optional but many customers felt compelled to take out PPI, whilst others were told it was a 'condition of sale'. Some customers said that they felt it was hinted they were more likely to be accepted for the loan if they bought the PPI policy.

Claim PPI compensation with Payment Protection Scotland

If you have taken out a loan, credit card, store card, mortgage, the likelihood is you were also sold PPI too.

Payment Protection Scotland is one of Scotland's leading PPI claims management firms and we can help you claim your money back - call us NOW before the August 2019 PPI deadline.

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?