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September 27, 2017 
Daniel Lee With so many PPI companies out there it can sometimes be a daunting task trying to find out which PPI company to use.
Like any industry there will be good companies and bad companies, so how should you go about filtering out the bad, and choosing the best company to go with.
Firstly if you receive any form of message, whether it be via telephone, text or email, that specifies an amount of compensation that you are ‘due’, or that is ‘awaiting you’ stay well clear!
No company is able to access any details regarding accounts or policies you have without your consent, so it is impossible for any company to know whether or not there is compensation to be had, let alone how much, without receiving your authorisation.
So, if they are telling lies at the beginning do you really want to put your trust in them?
Secondly, if you receive a call that makes any reference to a ‘database’, or ‘records’ again avoid.
Just as above, there are no available records and there is no database.
Finally, check the company out before you commit. Are their Terms of Engagement, or Terms & Conditions available to see on their website?
Are their charges fair and clear, with no upfront fees??
If they claim they can claim back more, or go back further than other companies they are not being truthful again so avoid.
You can see from the above that there are companies to avoid, and why the media can sometimes have a certain view of the industry, but there are definitely some excellent companies out there too who do a superb job.
It’s worth taking a little time to make sure you make the correct decision when choosing which PPI company to use.
Check out the company website, make sure the address is real.
Check the Claims Management Regulator website to ensure the company is registered. Are there any customer testimonials on the website?
It may be a good idea to speak with the company, to get a feel for it.
Ask questions, a good company will always be up front regarding your chances of success, their fees and what they can do for you.
We all live in an increasingly busy and fast paced environment these days, and searching for paperwork, gathering an argument and putting it together in a legal letter, dealing with banks tactics and ensuring you are getting a fair response can seem like a time consuming exercise.
Putting your case in the hands of a good claims management company can take away the stress.
A good claims company will be able to obtain details from your lender, fight your case, escalate the complaint where it needs to go, check any offer of compensation and keep you updated throughout.
A good claim company knows the tactics used by banks as they continue to try every trick in the book to wriggle out of paying back compensation for the biggest financial scandal ever to hit the UK.
Yes, the downside is paying a fee if you get compensation but would you rather receive a majority of a large cash award, or all of nothing?!
Your Money Claim are regulated by the Claims Management Regulator in respect of regulated claims management activities.
With a formidable track record in recovering compensation for our much valued customers.
Our testimonials on our home page are what we work hard every day to achieve.
There is nothing better than being able to pick the phone up to a customer to tell them the news that they are thousands of pounds better off.
We’ve reclaimed millions of pounds in compensation already and we don’t intend to stop there.
We aim to offer a personal service, rather than you just being a number.
We are always on hand, in our office in leafy Lancashire, to answer any questions you may have, and we will keep you updated throughout your claim.
We will fight your corner, we will counter any arguments put forward by the bank, and if we need to we will take the matter to the Financial Ombudsman Service who will investigate the case and, in the majority of circumstances, back our views and order your lender to pay up.
Furthermore, we recently passed a random audit carried out by our regulator so you can be sure your claim is dealt with compliantly and professionally.
Which PPI company will you choose?
We believe you’d be making a wise decision if you chose Your Money Claim, you can start you claim now.
Which PPI company to use
August 15, 2014 Daniel Lee Despite the huge amount of media attention some of the most asked questions do not get answered. We hear all the figures, such as a £25 BILLION compensation pot, and that 34 MILLION PPI policies have been sold, but without the knowledge of how to claim, people simply won’t get the compensation they deserve.
Most people now lead very hectic lives and it may seem time consuming having to search for paperwork to check whether you actually took out Payment Protection Insurance (PPI). You may not have the paperwork, especially if the mortgage, loan, hire purchase agreement, credit card or store card was taken out quite a while ago, or has been settled for some time. Even if you know you have had PPI, gathering a legal letter together and sending off to your lender may seem a daunting prospect, after all there is usually just one opportunity to get the letter right. What if the bank rejects the complaint?
Employing the services of experts can be of huge benefit. A regulated Claims Management Company (CMC) deals with banks and lenders on a daily basis, and will have all the expertise and experience required in order to put your case forward in the best possible format. Being able to locate account details and whether PPI was sold is a simple and quick process for an established and successful CMC. A good CMC will keep you updated throughout the process, they will push the bank for answers and, if the bank rejects the complaint, they have the ability to counter a rejection.
Should the bank still reject the complaint a CMC can escalate the matter to the Financial Ombudsman Service, who will review the complaint independently. In the majority of circumstances, if the case has been put together professionally and the cause for a mis-sale have been explained properly, the Financial Ombudsman Service will accept that the PPI has been mis-sold and they will order your bank or lender to make an offer of compensation. A professional CMC will also check any offer of compensation received to ensure it has been calculated correctly.
If you want a company that is used to beating the banks, with thousands of satisfied customers and millions of pounds of compensation recovered then look no further, choose Your Money Claim.
How do I claim PPI
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July 21, 2014 Daniel Lee
A question that keeps popping up when we speak to people is “Did I have PPI”, or “How can I find out if I had PPI?”. Well, unless you have your paperwork to hand it’s probably impossible to tell. You could contact your lender but we hear so many stories from customers who say that their lender told them they didn’t have PPI, only for us to find out that they actually did. Do not trust your bank or lender!
There have been an estimated 34 MILLION PPI policies sold in the UK, according to a recent report by the Guardian. These policies are worth approximately £50 BILLION suggests the Financial Ombudsman Service. Therefore, if you have had a mortgage, loan, hire purchase agreement, credit card or store card we believe you could well be in a minority if you haven’t had PPI. Furthermore, one of the biggest mis-selling points we see on a daily basis is customers who were completely unaware they had PPI in the first instance. If you have had credit, and most of us have, in the last 20 years we would suggest that it is likely that you have paid towards a PPI policy at some point in time.
Due to our experience and expertise we have built up relationships with many banks and lenders that allow us to check quickly whether you have had PPI on any of your agreements. We don’t need account numbers, just your basic details such as name, address and date of birth. We will then request your lender provides information regarding any PPI policy that has ever been taken out in your name.
Well firstly, if you didn’t know you had it, this is a huge warning siren to suggest it has been mis-sold. There are numerous other factors that come into play when investigating whether a PPI policy has been mis-sold. Did you ask for it? Were you told the full cost? Were the benefits and exclusions explained to you? Did your circumstances mean you were not actually eligible? The list goes on. We put forward the case to the lender using our legal documentation, we deal with any requests and we fight your corner all the way.
Overall, the success rate is above 90%. In just over half the cases lenders put their hands up and make an offer of compensation. However, in some instances lenders will reject the case in an attempt to try and make the matter go away. That’s where our expertise comes in again. We counter the rejection and, if required, we escalate the matter to the Financial Ombudsman Service (FOS). The FOS are independent and they review the complaint and make their decision and, in the majority of cases time, the FOS agree with us and instruct the bank or lender to make an offer of compensation.
With regards to what compensation you are likely to receive, this totally depends on how much you borrowed, what the interest rate was and how long ago you took the credit out. The industry average is suggested to be around £2,750 although we’ve seen many offers in the tens of thousands. As a rough estimate though we look at between 10% – 25% of your monthly payments on a mortgage, loan or hire purchase agreement, could have gone towards a PPI policy.
I hope this has gone some way to answering your question of “Did I have PPI”.
Don’t miss out, you could be owed ££££’s
Did I have PPI
June 6, 2014 Daniel Lee
Have you ever wanted to take part in an extreme challenge for charity, or do you have a weird or wacky idea that you could do to raise money for a good cause? Is there something that is holding you back?
Your Money Claim is looking to sponsor and follow a good cause, whether it’s one person or a group of your friends or family. We are inviting people to put forward their ideas on what you would love to do in the name of a worthwhile cause. Whether it’s something extreme, such as climbing a mountain or doing a triathlon, or whether it’s something a little different that will interest people and bring communities together, we want to hear from you. We would like to follow your story as you prepare for your event or challenge. We would publish your story, along with interviews with friends, family and maybe even a charity spokesperson, on our website, and raise awareness of your story, so together we can raise as much money as possible for a good cause. Who knows, if we get lots of excellent ideas we may choose to follow more than one so contact us and tell us your idea and the charity that you wish to raise money for.
If you know of somebody who is doing something exciting for charity, and you believe they may be interested in us following their story, and sponsoring them or making a donation to their cause then we’d also like to hear from you.
Simply email us via charity@yourmoneyclaim.co.uk with your idea on or before 31st July 2014 and we will choose the most exciting entries!
Charity
October 21, 2014 Daniel Lee
There is currently no PPI deadline set in which you need to lodge a claim. The banks have attempted to set a deadline but the regulator refused their request. However, many banks are starting to reject complaints based on timeframes, relying upon laws stating that complaints must be brought either within 6 years of the date of the reason for the complaint, or 3 years from which consumer may have reasonably known they had cause for complaint. They claim that the recent media attention has given enough attention on the matter that consumers will have known whether they have had cause for complaint.
There is no need to worry that you’ve missed your chance. Unless the bank has specifically written to you over three years ago to state you may have reason to complain about the sale of PPI, there can be no time limit. Had the banks issued a letter to all customers then it is assumed their regulator, the Financial Conduct Authority (FCA), would deem that to be a line in the sand and the 3 year timeframe as explained above would then start. However, the banks don’t want to send letters out to customers inviting them to complain as the costs to the banks would likely far exceed the current estimated £25 BILLION that they are expected to pay out in compensation. Until such time, the banks generally can’t place a PPI deadline on the matter, much to their annoyance. Don’t get me wrong though, this won’t stop them attempting to use the tactic to try and make valid complainants go away.
Although there has been widespread media attention there are still millions of people who have not yet made a PPI claim. This is evidence enough that people are still unaware that they have cause for complaint. Not everybody will have read or seen the media surrounding the biggest financial scandal of all time so it’s impossible that a deadline could be in place. Continue with the claim and argue your point. If you are with a Claims Management Company such as Your Money Claim who are regulated by the Claims Management Regulator in respect of regulated claims management activities then our expertise and experience overcomes these tactics and feeble objections raised by lenders.
Although there is no PPI deadline, and we have a 100% record in overcoming objections of this nature by lenders, we would encourage people to launch claims as soon as possible. Why wait to get the compensation you deserve? Don’t worry if it seems a little overwhelming, or like there is plenty of paperwork. We do the hard work, we chase the banks, we draft and send the legal documents, we obtain the information required and we fight the case every step of the way. You could be owed thousands.
PPI deadline
August 15, 2014 Daniel Lee
We hear about it all the time in the media, banks rejecting valid PPI complaints. This has led to a huge backlog with the Financial Ombudsman Service, now up to two years. But why do the banks reject valid complaints, and what should be done to stop this?
It’s simple, it’s estimated that 9 in 10 customers who receive a rejection do not take the matter any further. It’s therefore massively financially beneficial for banks and lenders to reject valid PPI cases. People still tend to trust banks and lenders despite the numerous financial scandals that have proven beyond doubt that banks simply cannot be trusted. Banks will use various methods and tactics to wriggle out of paying back PPI compensation and, unfortunately people are still falling for these tactics.
Simple, when claims are rejected the Financial Ombudsman Service will look into the complaints, if they are escalated to them within 6 months of the banks rejection. The Financial Ombudsman Service also release statistical data twice a year and this data proves beyond doubt that lenders are continuing to reject valid complaints.
Good question! The financial sector is regulated by the Financial Conduct Authority, and the Financial Ombudsman Service investigate and resolve complaints brought against banks and lenders. Unfortunately, in my humble opinion, there are just far too many employees and decision makers within the Financial Conduct Authority (FCA) and the Financial Ombudsman Service (FOS), that have worked for the banks and lenders in question. Furthermore, many employees who currently work within the FCA and FOS will, in the future, go on to work for these banks and lenders. Would you want to ‘rock the boat’, or upset your past or future employer?! It’s a sad situation but it’s the reality we currently live in.
A quick and simple solution in my opinion. For every day that over 50% of complaints that are found in favour of the customer by the Financial Ombudsman Service, the lender should be fined a percentage of their annual profit. This would soon make them get their house in order, and will be a huge step forward in finally making these unsavoury and untrustworthy banks and lenders start treating their customers fairly.
Firstly it is vitally important that anybody who receives a rejection from a bank or lender does not take no for an answer. Escalate your complaint to the Financial Ombudsman Service, and do it quick. We make the process simple for our customers and we ensure if a claim is rejected unfairly, it is escalated to the Financial Ombudsman Service. There is some waiting to be done once the matter has been escalated but, in the majority of circumstances, the wait is well worth it as thousands of our customers have received thousands of pounds.
STOP the banks rejecting valid PPI claims
