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Find My PPI
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Blackhorse 15/01/15 : £11968  Blackhorse 15/01/15 : £11968

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TRIED TO CLAIM BUT FAILED? ALL MAY NOT BE LOST.

The Legal Landscape for PPI Claims has changed – we can use the new law to review previously rejected claims.

Key legal decisions have fundamentally altered the opportunities for PPI claims – even those that have previously been rejected. The judgement in Plevin vs Paragon Personal Finance (2014) allows customers to bring an unfair relationship claim based on non-disclosure of commissions. Other recent cases have upheld this judgement and previously rejected cases can now be re-opened on fresh grounds of complaint.

The Banks have put pressure on the Government and Financial Conduct Authority (FCA) to set a deadline for PPI Claims. There is every indication that the deadline will be announced in the next few months. Contact us now to ensure you re-submit your claims for compensation before the FCA deadline on claims takes effect. Don't miss out a second time!

Don't forget Banks have been fined repeatedly for failing to deal with complaints properly. Tens of thousands of valid PPI complaints have been WRONGLY rejected.

We can review failed claims for accounts dating back as far as 1985.

 

OPPORTUNITIES

The opportunities to re examine old PPI cases fall into three main categories:

“SECRET COMMISSION” CLAIMS

A recent change in law has established that a Lender’s failure to disclose commission earned on the sale of the PPI policy may allow the customer to argue that the sale of the PPI was unfair under the rules of the Consumer Credit Act. It is believed that 42% of all personal loans and credit cards fall within the scope of the Consumer Credit Act. This new law means that previously rejected PPI claims can now be re-opened on fresh grounds of complaint that the sale was unfair due to “secret commissions”.

Your claim will be reviewed to check it falls under the new law and will then be re-submitted. If successful your lender would be forced to pay you full compensation plus statutory interest of 8%. 

CASES REJECTED AS HAVING NO PPI

A number of large Banks have been fined for failing to handle PPI claims correctly. Perhaps the biggest fine was made against Lloyds Bank (see more about that below) but they haven’t been the only culprit. We now have the facility to conduct full searches with the majority of Banks to find full details of accounts going back to the mid 1980’s. We don't need account numbers of documents to conduct these searches.

Some customers have told us that they tried to claim before but were told they didn't have PPI. When we conducted our search we found that they had been sold PPI. These previously rejected claims can be re opened.

CLAIMS SETTLED WITH “GOODWILL” PAYMENTS

In the early days of PPI claims many customers were “fobbed” off with Goodwill payments of compensation, commonly £500 or £750. Its unlikely that that payment represented the full value of their claim and was unlikely to have included statutory interest of 8%.

If this happened to you, speak to us as we may be able to force the banks to re-investigate claims that  you may have already been paid out on as you MAY NOT have been paid the FULL value that you were entitled to

 

TRIED TO CLAIM with LLOYDS?

Lloyds fined £117million for failing to handle PPI complaints properly.

The Financial Conduct Authority (FCA) issued its largest ever retail fine (£117m) to Lloyds Bank Plc, Bank of Scotland Plc and Black Horse Ltd (together Lloyds) for failing to treat their customers fairly when handling Payment Protection Insurance (PPI) complaints.

During the period investigate Lloyds assessed customer complaints relating to more than 2.3 million PPI policies and rejected 37 percent of those complaints “out of hand”.

Firms are required to assess complaints impartially and can reject unfounded claims.

In March 2012, Lloyds issued guidance instructing complaint handlers to assume that Lloyds’ PPI sales processes were compliant and robust unless told otherwise. In addition, Lloyds did not notify complaint handlers of known failings identified in its PPI sales processes during the relevant period.

Georgina Philippou, acting director of enforcement and market oversight at the FCA said:

“PPI complaint handling is a high priority issue for the FCA. If trust in financial services is going to be restored following the widespread mis-selling of PPI, then customers need to be confident that their complaints will be treated fairly.

“The size of the fine today reflects the fact that so many complaints were mishandled by Lloyds.  Customers who had already been treated unfairly once by being mis-sold PPI were treated unfairly a second time and denied the redress they were owed. Lloyds’ conduct was unacceptable.”

Lloyds agreed to settle at an early stage of the investigation and therefore qualified for a 30 percent discount. Were it not for this discount the FCA would have imposed a fine of £167,758,035.

It may be that your complaint against Lloyds was one of the claims that was unfairly rejected – contact us today and we will re-examine your failed claims.

 

£99,522

Our largest Credit Card PPI claim to date.

£35,594

Our largest Loan PPI claim to date.

9/10

The number of people yet to claim PPI (source Ombudsman report May 2013)

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Lloyds Group

Put aside £7.5 billion so far - estimated £1.4 billion still unpaid!

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HSBC Group

Put aside £1.5 billion so far - estimated £650 million still unpaid!

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Santander

Put aside £538 million so far!

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Nationwide

Has put aside £1738 million!

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Royal Bank of Scotland

Put aside £2.2 billion so far - estimated £900 million still unpaid!

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Barclays

Put aside £2.6 billion so far - estimated £1 billion still unpaid!