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April 13, 2017 
Daniel Lee When you hear the word PPI what is the first thing that pops into your head?
Nuisance calls? Spam texts? Spam emails? Cheesy radio and TV adverts?
If you thought any of the above I believe you’re probably in the majority, and I strongly agree that such tactics should not be allowed within the industry, or controlled better at the very least.
However, the fact that most people consider the most annoying part of the PPI scandal to be the companies that attempt to obtain compensation speaks volumes.
The vast majority of us form opinions based on what we see and hear in the media, and it is clear the banking industry holds huge influence over the media.
How else can the companies who fight to get back the BILLIONS in compensation that MILLIONS of customers have had taken illegally from their pockets be the bad guys?
Although it is a disgrace you’ve really got to hand it to the banks, they have hoodwinked the media into believing they are the victims in the biggest financial scandal to hit these shores.
Lets put things into perspective shall we for a moment.
Banks sold £50 BILLION worth of PPI policies from 2001 onwards alone, how many they sold before that is open to debate.
Banks mis-sold the often useless product to MILLIONS of customers purely because of the extortionate profits on offer.
Banks decided to take the matter to court in an attempt to avoid having to compensate customers who may have been caught up in the scandal.
Banks chose not to contact customers who may have been affected by the mis-selling when they lost the court case in 2011.
Banks mis-handled and provided unfair decisions to millions of valid complaints, with some being issued fines for their failures.
Banks are offered yet another opportunity by the Financial Ombudsman Service (FOS) to change their decision on a rejected complaint before the case is taken on by the FOS.
Banks have bullied the regulator into bringing in a potentially unlawful deadline, which could again see millions of customers miss out on what could rightfully be theirs.
Claims Management Companies fight the banks on behalf of customers, many of which are not aware the bank have even sold them PPI or have lost trust in the bank to handle their claim fairly.
Whilst the Claims Companies who use nuisance calls, SMS’ and emails need stopping in our opinion, it is clear who the bad guys are in this scandal.
PPI was sold on all forms of credit, such as mortgages, loans, car finance, hire purchase agreements, credit cards and store cards.
Not sure whether you’ve been sold PPI?
Our fast and comprehensive checking systems that have been set up with almost all banks allows us to find out whether you’ve been one of the millions who have had PPI.
Not sure whether you qualify? Check here to see whether you may.
Our average successful customer award is £3,332**!
Want to know how much you may be owed? Why not try our PPI calculator.
Option #1: Fill in the ‘Start Your Claim’ form on this page. We’ll send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we provide, we’ll make a start on your PPI claim.
Option #2: Click the ‘Download Claim Pack’ button. Simply print out the form, complete it and send it back to us. Our address and email address can be found here.
Our experts are on hand to answer any questions you have via telephone, email or our live chat facility.
Biggest banking PPI achievement
March 3, 2015 Daniel Lee It has long been claimed by British banks and lenders, and so called city experts, that the final PPI bill would stand at around £25 BILLION.
We, on the other hand, have estimated a much higher bill, taking into account the millions who have yet to stake their claim.
Our estimations place the final bill at well over £30 BILLION.
It would be higher if banks had handled consumer complaints fairly, but would we really expect that to happen?
Now is the time of the year when UK banks and lenders report their figures to the city, and inevitably admit that they have to add more to the ever increasing PPI compensation fund.
Yesterday we had the RBS / Natwest group adding £650m, and today is the turn of the Lloyds Banking Group.
Lloyds Banking Group, which includes Halifax, Bank of Scotland and Blackhorse, have been by far the biggest culprit of PPI mis-selling, and today we learn that they’ve added a further £700m to the Lloyds PPI fund.
This takes their total bill alone past the £12 BILLION mark, and the overall bill to UK lenders close to £27 BILLION, an extraordinary figure.
With Barclays, Santander, HSBC and the numerous smaller lenders still to declare their figures could we potentially see the PPI bill hit the £30 BILLION barrier before the end of the year?
If I were a betting man I’d certainly be placing my money that it does.
Not sure whether you’ve been sold PPI? Our fast and comprehensive checking systems that have been set up with almost all banks, including Lloyds, Halifax, Bank of Scotland and Blackhorse, allows you to find out whether you’ve been one of the millions who have had PPI.
Not sure whether you qualify? Check here to see whether you may.
Want to know how much you may be owed? Why not try our PPI calculator.
If you have had a loan, mortgage, hire purchase agreement or credit card within the last 25 years there’s every chance you’ll have been paying for PPI.
We’ve made claiming easy, taking the stress out of you having to deal with the paperwork, the stress, and the tactics employed by the bank to try and wriggle out of paying.
So….how do you start your claim?
#1: The first option for you is to fill in the form which can be seen on every page. By doing so, we will send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we send you with your form, we can make a start on your PPI claim.
#2: The second option for you is to download our form, which again can be found on every page by clicking the ‘download pack’ button. Simply print it out, complete it and send it back to us, our address can be found here. Once we receive is back we’ll let you know and make a start.
Our team of experts are on hand to answer any questions you have via telephone, email or our live chat facility.
So….why wait, let’s get started!
Lloyds PPI fund passes £12bn
February 26, 2015 Daniel Lee It’s that time of year again when the major banks release their quarterly figures to the city, which all too often sees them having to increase their PPI compensation pots.
First up this time is RBS, which also owns Natwest, and we are already off to a flyer!
In the last set of figures released approximately 3 months ago, RBS added £150m which took their total PPI bill to a gigantic £3.3 BILLION!
At that time we made what some considered to be a bold prediction, stating that over the course of the following twelve months we believed that the RBS PPI fund would surpass £4 BILLION.
Well, even we have to admit that we didn’t think the target would be within touching distance just a few months later.
In their latest figures released today, RBS have set aside a mammoth £2.2 BILLION for various regulatory failings and fines, ranging from the recent foreign exchange rigging scandal to the IT failures, not forgetting the interest rate hedgings.
Of the £2.2 BILLION set aside by RBS/Natwest, £650 MILLION is to be set aside to cover compensation claims for mis-sold PPI.
This sees the overall cost so far to the troubled high street bank stand at £3.97 BILLION.
With further quarterly announcements due later in the year it now appears our bold statement will actually turn out to be a bit of an underestimation, much to the surprise of city experts.
Where will the final bill stop? Well, with an estimated 7 million yet to claim, we believe the end is far from near.
Not sure whether you’ve been sold PI? Our fast and comprehensive checking systems that have been set up with almost all banks, including RBS and Natwest, allows you to find out whether you’ve been one of the millions who have had PPI.
Not sure whether you qualify? Check here to see whether you may.
Want to know how much you may be owed? Why not try our PPI calculator.
If you have had an RBS or Natwest loan, mortgage or credit card within the last 25 years there’s every chance you’ll have been paying for PPI.
We’ve made claiming easy, taking the stress out of you having to deal with the paperwork, the stress, and the tactics employed by the bank to try and wriggle out of paying.
So….how do you start your claim?
#1: The first option for you is to fill in the form which can be seen on every page. By doing so, we will send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we send you with your form, we can make a start on your PPI claim.
#2: The second option for you is to download our form, which again can be found on every page by clicking the ‘download pack’ button. Simply print it out, complete it and send it back to us, our address can be found here. Once we receive is back we’ll let you know and make a start.
Our team of experts are on hand to answer any questions you have via telephone, email or our live chat facility.
So….why wait, let’s get started!
RBS PPI fund up £650m
August 11, 2015 Daniel Lee The Payment Protection Insurance (PPI) claim process can be very confusing. This article is part of a series that Your Money Claim are publishing to clear up common misconceptions about PPI and help you better understand your right to compensation!
There are arguments for and against whether every PPI policy is bad.
Our opinion would be that a separate Income Protection Policy that is not sold as part of a package, such as a credit agreement, is a far better way of protecting yourself against accident, sickness and/or redundancy.
The problem with PPI is that it only covered your credit agreement payment that it was attached to.
Sales teams at banks and other financial institutions were targeted and pressured to sell PPI to customers as the profit to the banks was huge, which in our opinion is a clear indication that the policy was not value for money for the customer.
PPI was sold on virutally any form of credit that has been provided to a customer.
Barclays even had the audacity to attach PPI products to some of its current accounts!
The idea of PPI is to protect the customer should they fall ill or lose their job and struggle to make repayments on that mortgage, loan, credit card etc.
So think of all those scenarios where you are committed to making repayments – PPI could be included, possibly without you even knowing it!
Examples products include: mortgages, car finance, store cards, loans, catalogues, credit cards, hire purchase agreements.
There is no definitive start date for the mis-selling of PPI, although it is generally accepted that PPI started being sold in the early 1990s.
Whilst it is unlikely that PPI was added to credit agreements prior to the 1990s that is not to say it is certain, so it is still worth checking, which is something we can do.
The simple answer is yes – the fact that you later made a claim on the policy does not alter the way the policy was initially sold to you.
If the policy is proven to have been mis-sold and compensation awarded, the lender will simply deduct any amount paid out by the insurance from the compensation award.
It is highly likely that any claim would bring your existing PPI cover to an end, given you are arguing that it was mis-sold.
However, as explained earlier in this article, there are better policies out there that offer comprehensive income protection cover which are much better value for money.
Yes, there are plenty. Lenders used various names for what is basically PPI so don’t be fooled into thinking you haven’t had PPI just because you haven’t seen ‘PPI’ in any paperwork.
It could be named ‘payment cover’, ‘ASU’, ‘loan care’, ‘protection plan’, ‘loan protection’, ‘retail payment protection’, or something similar.
If you are unsure, simply contact us and we can quickly tell you whether you’ve been paying for PPI. We do not even need any paperwork from you to discover whether you can make a claim.
Not sure whether you’ve been sold PPI? Our fast and comprehensive checking systems that have been set up with almost all banks allows you to find out whether you’ve been one of the millions who have had PPI.
Not sure whether you qualify? Check here to see whether you may.
Want to know how much you may be owed? Why not try our PPI calculator.
If you have had a loan, mortgage, hire purchase agreement, credit or store card within the last 25 years there’s every chance you’ll have been paying for PPI.
We’ve made claiming easy, taking the stress out of you having to deal with the paperwork, the stress, and the tactics employed by the bank to try and wriggle out of paying.
So….how do you start your claim?
#1: The first option for you is to fill in the form which can be seen on every page. By doing so, we will send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we send you with your form, we can make a start on your PPI claim.
#2: The second option for you is to download our form, which again can be found on every page by clicking the ‘download pack’ button. Simply print it out, complete it and send it back to us, our address can be found here. Once we receive is back we’ll let you know and make a start.
Our team of experts are on hand to answer any questions you have via telephone, email or our live chat facility.
So….why wait, let’s get started!
PPI Questions Answered – Part 1
August 11, 2015 Daniel Lee Payment Protection Insurance (PPI) has been a hot topic in the media over recent years.
Millions of consumers have already sought compensation from financial lenders that have mis-sold them PPI, with an estimated 7 million yet to launch their claim.
The banks and lenders in the UK have had to set aside tens of billions of pounds in order to meet these claims and the bill is continuing to rise.
You could also be owed compensation, but what was PPI added to?
This article lists some of the financial products that were typically used to mis-sell PPI – find out whether you may have a claim!
Many large mortgage lenders such as Lloyds, Halifax, Santander and Alliance & Leicester have been fined, or faced tough action from the regulator, for the malpractice of mis-selling PPI. Mortgage lenders have paid out huge sums in compensation.
From huge institutions such as HSBC, Clydesdale and RBS / Natwest, to the smaller Welcome Finance, companies that loaned money over the last 20 years often mis-sold PPI. Could this have affected you?
Various credit card providers, including Barclaycard, MBNA and Capital One mis-sold PPI insurance to their card users.
Black Horse and HFC lent hundreds of thousands of people money to finance their car purchases. Hire Purchase Agreements were an opportunity that many organisations used to mis-sell PPI.
From Asda to Debenhams, Tesco to Sainsburys, it wasn’t just the mainstream banks and lenders who were mis-selling PPI. Have you been using a store card over the last 25 years? You may have been mis-sold PPI.
Essentially any time that an organisation provided you with a form of credit – creating a situation where you owed them money – it is worth checking whether you were sold PPI at the same time.
Not sure whether you’ve been sold PPI? Our fast and comprehensive checking systems that have been set up with almost all banks, including Alliance & Leicester, allows you to find out whether you’ve been one of the millions who have had PPI.
Not sure whether you qualify? Check here to see whether you may.
Want to know how much you may be owed? Why not try our PPI calculator.
If you have had a loan, mortgage, hire purchase agreement, credit or store card within the last 25 years there’s every chance you’ll have been paying for PPI.
We’ve made claiming easy, taking the stress out of you having to deal with the paperwork, the stress, and the tactics employed by the bank to try and wriggle out of paying.
So….how do you start your claim?
#1: The first option for you is to fill in the form which can be seen on every page. By doing so, we will send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we send you with your form, we can make a start on your PPI claim.
#2: The second option for you is to download our form, which again can be found on every page by clicking the ‘download pack’ button. Simply print it out, complete it and send it back to us, our address can be found here. Once we receive is back we’ll let you know and make a start.
Our team of experts are on hand to answer any questions you have via telephone, email or our live chat facility.
So….why wait, let’s get started!
What was PPI added to?
August 11, 2015 Daniel Lee You may recall back in November I made a prediction that the PPI scandal would take another 3 years before we can finally say that the matter had been closed.
This wasn’t popular amongst the banks and lenders who are at the centre of the scandal, who have been claiming for what seems like years that we’re almost at an end.
Well, yesterday the chief Financial Ombudsman confirmed that the compensation payouts would take years, confirming my thoughts.
Whilst the number of PPI complaints are steadily failing they are still at epic levels.
Banks and lenders have been caught dealing with complaints unfairly and forced to reopen 2.5 million complaints.
Also, banks and lenders have still not put in sufficient trained staff and systems in place to deal with complaints, despite the saga first being uncovered in the late 2000s.
It’s no surprise that the PPI scandal has years left to run.
Finally, it’s our estimation that there are still approximately 7 million people who have yet to make a claim.
PPI was mis-sold for so many reasons. Our statistics show that the majority of people who approach us now are not aware as to whether they’ve had PPI.
Simple checks can be carried out to see whether PPI has been added to any form of credit agreement, from loans and mortgages to credit and store cards.
Many customers are astounded to find that they’ve been sold PPI, and this is down to the tactics employed by sales staff who often didn’t tell customers they were being sold the useless policy, instead electing to hide the policy within the small print.
Did you honestly think that was it? The next scandal is upon us, and very much like PPI, it’s currently under the radar, but not for long.
Do you pay a monthly fee for your bank account, or have you in the past?
With 1 in 5 of us currently paying for a Packaged Bank Account, in exchange for various ‘perks’, it’s becoming clear that banks have been at it again.
Not sure whether you’ve been sold PPI? Our fast and comprehensive checking systems that have been set up with almost all lenders, allows you to find out whether you’ve been one of the millions who have had PPI.
Not sure whether you qualify for PPI compensation? Check here to see whether you may.
Want to know how much you may be owed? Why not try our PPI calculator.
Do you pay a monthly fee fore your bank account? Check here to see whether you may qualify for compensation.
#1: The first option for you is to fill in the form which can be seen on every page. By doing so, we will send you out a form in the post for you to complete. Once we’ve received the form back in the freepost envelope we send you with your form, we can make a start on your PPI claim.
#2: The second option for you is to download our form, which again can be found on every page by clicking the ‘download pack’ button. Simply print it out, complete it and send it back to us, our address can be found here. Once we receive is back we’ll let you know and make a start.
Our team of experts are on hand to answer any questions you have via telephone, email or our live chat facility.
PPI scandal has years left to run
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