PPI costs push Shop Direct into the red

PPI costs push Shop Direct into the red

⚠️ With the PPI Deadline less than a year away, now would be the perfect time to check!

Shop Direct – which owns catalogue brands Littlewoods and Very – have announced a £48.3 million loss for 2018, caused by a massive surge in the money they have set aside to pay out successful PPI claims.

The firm say the Very website has done well in the last year, with sales rising by 10% to £1.4 billion, but it also announced the number of PPI claims has soared.

Claims deadline

As the PPI claims deadline of August 29th draws ever closer, Shop Direct has added another £169 million to its contingency fund – a 51% increase on the previous year.

FOS admits it ‘failed to get to grips’ with cases

The Financial Ombudsman Service (FOS) has admitted it ‘failed to get to grips’ with almost one in ten of the cases it dealt with in 2018.

FOS admits it ‘failed to get to grips’ with cases

The Financial Ombudsman Service (FOS) has admitted it ‘failed to get to grips’ with almost one in ten of the cases it dealt with in 2018.

Campaigners call to ‘protect cash’ for consumers

Campaigners concerned about the need to protect cash as an alternative to electronic banking have appealed for a new regulator to be set up to oversee changes in the way money is used in the UK.

Campaigners call to ‘protect cash’ for consumers

Campaigners concerned about the need to protect cash as an alternative to electronic banking have appealed for a new regulator to be set up to oversee changes in the way money is used in the UK.

CYBG still receiving 1,800 new PPI claims a week

CYBG – the parent company of Clydesdale and Yorkshire Banks – is still receiving around 1,800 new PPI claims a week.

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