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Frequently Asked PPI Questions

Below are some answers to many of the questions we get asked on a daily basis.

If your question isn’t listed please feel free to contact us and our team of friendly experts will be happy to answer your question.

About Partially Refunded PPI Claims

Previously Rejected Claims

Who was mis-sold PPI?

Sadly, there are potentially tens of millions of people who have fallen victim to what has been the biggest consumer mis-selling scandal of all time.

A significant percentage of people, perhaps even the majority, did not even know they have had been sold PPI.

What is the PPI deadline?

The highly controversial PPI deadline was set by the Financial Conduct Authority (FCA), which sought to put a stop on claims being made after 29th August 2019.

It is argued that this deadline is unfair, and that the only beneficiaries are the banks that have profited from the fraud.

Thankfully, there is a new route to justice via the courts which is yielding great success.

My PPI claim has been rejected, what can I do?

Taking your claim to the Financial Ombudsman Service (FOS) is the avenue that the FCA and banks would prefer you to take, providing your claim has been rejected within the last six months.

However, there has been much discussion as to whether your claim would be fairly dealt with by the Ombudsman following a damning documentary by Channel 4 Dispatches.

In addition, the FOS can only rely upon rules set by the FCA which are controversial and potentially considered unfair in law.

We can now review cases that have been rejected by the FOS with a view to looking to initiate civil court or High Court proceedings instead via our trusted top tier solicitor partner.

Why take things via the courts?

More and more claims are now being placed via the court system, with a great deal of success.

The reason for this is the highly controversial rules implemented by the FCA in respect of undeclared commission payments related to PPI policies.

The courts appear, based on cases seen to date, to take a very different approach from the Ombudsman and FCA.

Would I have to attend court?

No. It is our intention to lodge a group action through our trusted partner and leading London solicitors via the High Court.

The solicitors will therefore represent all of our customers that agree for their case(s) to join the action, which itself only requires a couple of signatures and proof of identity.

Once the outcome of each court case is known, we will contact all customers involved.

What are undeclared PPI commissions?

The average commission made by banks for selling PPI policies on behalf of insurance companies was a staggering 67%.

Therefore, on average, only 33% of what consumers were paying towards the PPI policy was for the policy itself, the rest was commission and clear profit for the bank.

Would you buy a car if you knew it was only worth 33% of what you were paying?

Why are the undeclared PPI commissions unfair?

Put simply, the banks didn’t tell customers.

The reason for this is clear, would you have taken out a policy had the bank told you it was pocketing 67% of what you paid?

It is more likely you would have not considered the policy represented value for money, and therefore it is less likely you would have agreed to take the policy.

Banks didn’t want to risk losing out on the obscene profits, so they simply didn’t tell customers.

What are the FCA / Ombudsman rules about commissions?

The FCA implemented highly controversial rules that basically retrospectively allow for banks to have pocketed 50% by way of commission when selling PPI policies.

These rules, as per the deadline, have again only served to benefit the banks in our opinion as the banks are using these rules to only pay out a portion of the PPI policies they fraudulently sold.

What can we do?

We are now accepting customers that have either had their claims rejected, have only received a partial refund or perhaps didn’t even make a claim prior to the PPI deadline, with a view to taking these cases via the civil courts.

We can carry out the initial checks without any obligation for you to use our service to submit a claim for compensation.

If you’d like us to review your case(s) please let us know by getting in contact, or by completing the Start Your Claim box.


References and Information

Supreme Court Ruling into undeclared PPI commmissions- Plevin versus Paragon Finance Limited

Financial Conduct Authority guidance to banks and confirmation of average commissions

2018 Court Case into unfair PPI commissions- Doran versus Paragaon Finance Limited

2019 Court Case into unfair PPI commissions- Akhtar versus Welcome Financial Services Limited

Channel 4 Dispataches investigation into the Financial Ombudsman Service