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Frequently Asked Questions


What is PPI?

PPI (Payment Protection Insurance) is an insurance product sold when taking out a loan, mortgage, credit card or other financial agreement. PPI covers the policy holder for their monthly repayments should they suffer an illness, lose their job or any other situation which results in the policy holder not being able to earn money to meet their commitments.

How can I reclaim my mis-sold PPI?

Simply click Start you Claim in the top right of this website and we'll start the process.

How can I tell if I have PPI?

Some borrowers were sold PPI policies without even being told about it; so you may have a payment protection insurance policy you weren't aware of.

If you have a loan, it is worth checking:
1) the original loan documents and seeing if PPI is mentioned
2) whether there are any other unexplained charges included amongst the repayments
3) your banking history to see if there has been any other direct debits you were not aware of.

Take note that PPI is known by many names, including loan insurance, debt protection and any number of other variants - just because you don't see "PPI" listed on any document doesn't mean you haven't been paying for it.

If you are still not certain whether or not you have a PPI policy, get in touch with us today by calling and we will be glad to assist you.

Why are Lenders paying back PPI?

In April 2011, The High Court ruled that all lenders who have mis-sold PPI must compensate clients. Millions of claims have already gone through the banks and billions of pounds have been paid out in redress. Often cases have ended up with the Financial Ombudsman Service, where the majority of claims that were refused by lenders where actually found in favour on the consumers and they received compensation.

Do I have a valid PPI claim?

If you have taken out a loan or credit card, you may have been mis-sold PPI. Below is a list of reasons as to why it may have been mis-sold; if you agree with any one of them you may be eligible to make claim.
1) You were not aware you had been sold PPI
2) You had previous medical conditions when you bought the PPI policy
3) You already had cover with another insurance provider
4) The Lender did not investigate your financial situation to ensure the PPI policy was the right policy for you
5) You were advised to take out the policy to obtain the loan/credit card agreement
6) The sales person was pushy and you felt you had to take out the PPI policy
7) Depending on your employment status you may not have needed PPI, for example if you were self-employed, the PPI policy would not apply to you

Packaged Bank Accounts

What is a Packaged Bank Account (PBA)?

Packaged Bank Accounts (also known as Added Value Accounts or Premium Accounts) are current accounts that have a set monthly charge for additional benefits such as mobile phone insurance, car breakdown cover, gadget insurance and extended warranties. The account fees vary in price from around £6 to £35.

How do I know if I have a PBA?

In most instances, people who have a PBA will have been sold the account either over the phone, on the internet or in their high-street branch. However, on some occasions, bank accounts have been upgraded to a PBA without them knowing. To find out if you have a PBA, look for a set amount leaving your account monthly on your statement.

How are PBAs mis-sold?

Whilst there are some PBA’s that have been correctly sold, there are many reasons why one may have been mis-sold. For example:

• You weren’t eligible for the products being offered e.g. there were age or medical restrictions for some of the insurance policies that were not explained at the time of purchase.

• You already had cover elsewhere e.g. you may be covered under a work policy or a personal policy purchased before the PBA.

• You were told that you needed to upgrade your account in order to qualify for a loan or overdraft application.

• You may not have been made aware that a free current account alternative was available.

The Claim Process

How long will my claim take?

Once your claim has been submitted to the Lender it can take up to 21 days to be acknowledged. A decision regarding your claim will then be made; this can take 8-16 weeks. Timescales can change due to the complexity of your case or the workload of the Lender. Should we not be satisfied with the final response given we will elevate your case to the Financial Ombudsman Service on your behalf, this will extend the length of your claim but will be at no cost to you.

How can I track the progress of my claim?

You can log on to your online account at any time by signing in using the “My account” button at the top of the screen. From here you will see a progress bar and details of exactly what stage your refund claim is at. You will also be notified immediately as soon as any updates are added to your account such as a response from your lender.

Lender Correspondence

If the lender contacts me directly, should I speak to them?

If your lender contacts you directly, this may only be to obtain further information to help with your case. However, please contact us to advise of any communication with your lender as your case handler may need to action your claim further.

If I receive an offer letter from my lender, what should I do?

Please contact your case handler immediately so they can ensure the offer is following the Financial Ombudsman Service guidelines.

Question & Answer

Why am I receiving another Letter of Authority when I have already signed one?

You have received another Letter of Authority to sign as your previous one may be out of date, or the lender may be different to the one you previously signed for.

Why do I have to pay tax on the 8% interest?

You have to pay the tax on the 8% interest which the lender will deduct automatically from your redress amount as this is classed as an income and we invoice you on the gross amount. Lenders will add 8% interest to a redress, from 1st October 2013 lenders are ordered to remove 20% tax from the 8% interest. The 8% interest is classed as an income; this is why clients have to pay tax on this. We charge the client for the full redress including the full 8% tax as the client would have had this as an income.

Clients can contact HMRC to request a tax rebate for the tax on the 8%, but this will depend on the client’s income/salary. This year’s tax allowance is £9,440, if a client is under this thresh hold/on benefits etc. they may get a refund of the tax paid on the 8% interest.

Why am I receiving warnings when I have not received the redress from my lender?

If you have not received your redress from the lender, please contact us on 08455 61 61 61. The reason you are receiving warnings is due to the system changing your status automatically, and therefore is why you are being chased for payment. Please get in touch and one of our advisors can change the status of your claim.

I am being asked for further information which I do not have?

If you are receiving requests for further information and do not have this, please contact us on 08455 61 61 61 and speak to your case handler. We may still be able to proceed with your complaint but in some cases this will result in closure due to lack of supporting evidence.

My personal details have changed, what do I do?

You can either contact us via email or call 08455 61 61 61 to speak to an advisor who will change your details for you.

I have added a claim and realised the lender name I gave is incorrect, what should I do?

Please contact us immediately to correct this. You will then receive a new Letter of Authority to sign and return in a pre-paid envelope.

I have found the correct account number for my claim, what should I do?

Please contact us immediately so we can update the information on the complaint. This may help speed up the process of your claim.

Do you have an example of what I will pay as a fee?

We are entitled to receive 24% (inclusive of VAT where applicable) of redress recovered relating to all accounts with your lenders, no matter if received after the initial settlement, whether the redress was received by way of loan / arrears reduction and/or in cash. This fee may be shared with any introducer(s).

Example 1: Compensation is cash in hand
If the agreed fee is 24% (inclusive of VAT where applicable) and the redress we obtain for you is £2,000, of which all £2000 is cash, we will charge you £480 as our fee.

Example 2: Compensation is cash in hand with loan and/or future instalment reduction
If the agreed fee is 24% (inclusive of VAT where applicable) and the redress we obtain for you is £2,000, of which £1000 is cash and £1000 is loan reduction, we will charge you £480 as our fee. You will receive £520 and have your loan reduced by £1000.

Example 3: Compensation is used to offset arrears on credit card or loan
If the agreed fee is 24% (inclusive of VAT where applicable) and the redress we obtain for you is £2,000, of which £0 is cash and £2000 is loan reduction, we will charge you £480 as our fee. You will receive £0 and have your loan reduced by £2000.

Contact Us

I want to contact you from my mobile, what number is best to use?

You can contact your case handler directly. If you check any correspondence from them you will find their direct local rate line - this will begin with 0191. Alternatively, please use 0191 466 11 20 which will take you through to our customer services department.

What are your opening hours?

We are open 8am – 8pm Monday to Thursday and 8am – 6pm on Friday