FCA pays over £400,000 for proposed PPI deadline ad brief

proposed deadline campaogn starts

The Financial Conduct Authority (FCA)has signalled its commitment to a future PPI claims deadline by paying one of Britain’s top advertising agencies more than £400,000 for ‘campaign strategy and creative development work undertaken.’

The payment is the first step in advertising the proposed PPI deadline which the regulator is expected to schedule for June 2019.Read More


Could PPI cost £100 billion?

Could PPI cost £100 billion?

A top financial journalist has claimed that the final bill for the mis-selling of PPI could be as much as £100 billion.

BBC personal finance reporter, Kevin Peachey, says: “Estimates suggest the total bill, were all sales paid back, could be £100bn. An estimated nine million people in the UK could still make a complaint.”Read More


FOS expect record PPI appeals next year

FOS expect record PPI appeals next year

Britain’s Financial Ombudsman Service (FOS) is making plans to deal with a record number of PPI claims next year as a direct result of the proposed PPI deadline.

But until the Financial Conduct Authority (FCA) announces the deadline date FOS say they have no idea exactly how many claims they expect to have to deal with.Read More


Banks still unfairly rejecting half of PPI complaints

Banks still unfairly rejecting half of PPI complaints

Britain’s banks are still unfairly rejecting more than half of the complaints they receive about mis-sold PPI according to new figures from the Financial Ombudsman Service (FOS).

In their latest quarterly report, covering July to September 2016, FOS say 57% of the 43,000 new complaints were upheld in favour of the consumers whose original claims had been rejected by the banks.Read More


SUCCESS STORY – Your persistence paid off

SUCCESS STORY – Your persistence paid off

Keith Deeley knew he had PPI attached to finance loan agreements with Lloyds from the past because he remembered the circumstances.

“We were led to believe we had to have it if we were going to get the loans,” he said. “Some of the agreements were over 20 years ago, but I remember the circumstances.”Read More


FOS still receiving 3,000 PPI complaints a week

FOS still get 3,000 PPI claims a week

Almost a decade after the PPI scandal first became public, the Financial Ombudsman Service (FOS) are still receiving more than 3,000 PPI complaints a week from consumers who believe their claim has been unfairly rejected.

Figures just released by FOS show they received 91,381 complaints in the first half of 2016, more than half of the total number of complaints received relating to banks, insurers and other types of financial business.

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SUCCESS STORY – £42,332.59± payout on a Debenhams store card

linda-cook

When Linda Cook was out shopping in Debenhams in the summer of 1985 she was persuaded to take out one of their store cards by the assistant on the till.

Said Linda: “I was sold it on the benefits and discounts I would receive as a store card holder and nothing was mentioned about PPI.Read More


SUCCESS STORY – FOS success brings total PPI payout to £11,670.62±

ian-jefford

Like thousands of other people Ian Jefford had no idea whether or not he had PPI attached to any of the loans he had taken out with Lloyds in the past.

“I had no proper paperwork,” he said, “but when I saw the TV advert I thought I’d give it a go on their no win no fee terms.”Read More


FOS still getting 4,000 PPI complaints a week

FOS still getting 4,000 PPI complaints a week

Five years after the PPI complaints scandal exploded, the Financial Ombudsman Service (FOS) are still receiving more than 4,000 claims a week.

Their latest half yearly figures show that 69% of the cases referred to them have been unfairly rejected by the banks and in some cases that figure is over 90% (94% CYBG and 91% Lloyds).Read More


PPI payouts jump by more than £100 million in a month

PPI payouts jump by mofe than £100 million in a sigle month

New figures released by the Financial Conduct Authority (FCA) show that PPI payouts for successful claims have jumped by more than £100 million in a single month.

In February consumers received £423.9 million in compensation – £112.1 million more than was paid out in January.Read More