Blog Category: PPI
The Financial Ombudsman Service (FOS) is still receiving more than 3,600 new PPI complaints every week, according to figures released today.
But they are just the claims appealed by consumers after being rejected by the banks. Many thousands more are successful and are paid out each week.Read More
Financial experts are speculating that Britain’s banks are on the verge of being hit by another £40 billion bill for mis-selling and manipulation of a number of exchange rates.
The Co-operative Bank has almost tripled its losses for the first half of the year – from £77 million in 2014 to £204 million this year – and says it could be another two years before it is back in the black.
The bank has been under siege since nearly going under two years ago when it had to be rescued by a consortium of investors after a £1.5 million ‘black hole’ was discovered in its balance sheet.Read More
Storeman Brian Fawcett suspected he had PPI attached to a number of agreements with HSBC, but didn’t get around to making any claim because he had a bad accident and injured his back.
Then one day he saw the Gladstone Brookes advert on TV and decided we would be the people to help him out.Read More
Photographer Lynne South had put off making a claim for possible mis-sold PPI for years because she didn’t have time to do it.
Then one day she came across Gladstone Brookes while searching the internet and decided it was time to do something about her claim.Read More
The troubled Clydesdale/Yorkshire Bank has been given another £420 million by its Australian parent company to pay future successful PPI claims.
National Australia Bank (NAB) which owns the two British banks has also made a further £80 million available to pay compensation for mis-sold interest rate hedging products.Read More
Angry consumer groups are demanding that the UK financial regulator does not cave in to pressure from the banks to impose a deadline on future PPI claims.
Martin Lewis of moneysayingexpert.com and Richard Lloyd of Which? have written a joint letter to Tracey McDermott, acting chief executive of the Financial Conduct Authority (FCA), with a last ditch plea to prevent the deadline being agreed.Read More
Former NHS project manager Froach MacLean took four years to decide whether or not she would try to make a claim for PPI because she wasn’t sure whether it had been attached to any of her agreements.
“I was undecided whether or not to do it,” she said. “Then I saw the Gladstone Brookes advert on the TV and decided to go for it.Read More
Virgin Money boss, Jayne-Anne Gadhia says the next chief executive of UK’s financial regulator should introduce a deadline on future PPI claims and let the banking sector go back to growing.
Martin Wheatley was recently ousted as chief executive of the Financial Conduct Authority (FCA) by Chancellor George Osborne. Now Ms Gadhia wants to bring an end to the multi-million £ fines and multi-billion compensation costs for mis-sold PPI.Read More
Teacher Emma Tibbitts came to Gladstone Brookes with her PPI claim because she was recommended by a friend who had had a successful claim and suggested she try it herself.
“I wasn’t even sure whether or not I had PPI, but I thought it was worth giving it a try. After an initial phone call they sent through some very easy forms to fill in,” she said.Read More