Blog Category: PPI
In the week where the UK regulator confirmed it may be changing the rules for investigating the mis-selling of PPI they have announced that payouts under the current system have now topped £19 billion.
The Financial Conduct Authority (FCA) has confirmed it is examining the results of a landmark Supreme Court decision from last year. The court ruled that failure to disclose a large commission payment on single premium PPI policies made the relationship between lender and borrower unfair under Section 104A of the 1974 Consumer Credit Act.Read More
Former customer service advisor Val Higgins has already recommended Gladstone Brookes services to her friends because she was so pleased with the way her PPI cases have been handled.
“The service has been absolutely great – very thorough and very professional. All of the staff I have dealt with have been first class. Nothing seemed too much trouble for them and they didn’t mind answering all my questions.”Read More
Britain’s financial regulator says its review into the mis-selling of PPI should be completed by the end of the summer.
The Financial Conduct Authority (FCA) announced the review in January amid concerns that UK lenders were unfairly rejecting claims or, in some cases, not paying successful clients the full amount of compensation they were due.Read More
Technical manager David Adams was sure he had never taken out PPI on any of his financial agreements, but when he saw the Gladstone Brookes advert on TV he decided to make absolutely sure.
“I thought ‘nothing ventured nothing gained’, so I gave them a call. The lady I spoke to was very thorough and took down all the details I could give her. I thought nothing more of it then until the letter arrived and they told me I had PPI on my Lloyds credit card. I couldn’t believe it, as I’d cancelled the card many years ago!”Read More
Fitter Michael Addison decided to find out if he was owed any PPI compensation when one of his workmates came to work one morning just before Christmas waving around a cheque for his PPI payout that would be paying for his Christmas.
“It turned out he had made his claims through Gladstone Brookes and they had got him back all the money he was owed,” said Michael.Read More
Construction manager Stephen Coates tried to make a claim himself with Lloyds Bank for possible PPI mis-sold on a loan some years ago.
“But the bank came back and said there was nothing to be claimed, so I left it at that and forgot all about claiming PPI,” he said.Read More
Single mum Sarah couldn’t believe her ears when a phone call with Gladstone Brookes revealed she had been awarded over £14,600± in compensation for mis-sold PPI from Lloyds and Halifax.
Sarah had called the office to check on progress of the claims and was stunned when she heard how much she would receive.Read More
PPI claims still make up two thirds of the total workload of the Financial Ombudsman Service (FOS) and more than 60% of the claims have been unfairly rejected by the banks.
Figures in the FOS annual report show that, while complaints about PPI had halved in volume from the previous record year, they still received just under 205,000. After investigation FOS ruled that 62% of the cases had been wrongly rejected and ordered that compensation be paid to consumers.Read More
Brian Prideaux was having lunch with a friend who told him he had just had a payout on a PPI claim.
“We were sitting and chatting when he told me he had had a result with his PPI claim and suggested I should have a go to see if I was owed anything, but I told him I was fairly sure I had never taken it out,” said Brian.Read More