HGV driver Andrew Clayton had to wait a long time to get all of his PPI compensation after a claim he made against Egg in May 2013 was initially rejected by the company.
A second claim against Virgin Money was settled in October 2013 when their rejection was overturned by the Financial Ombudsman Service (FOS) after the case was appealed on the recommendation of Gladstone Brookes. Andrew received £1,083.59 in compensation.
The Egg rejection was appealed to the bank at the same time, but was again rejected by them so the Gladstone Brookes specialist team recommended it be appealed with FOS ….. and that appeal was to last almost two years!
But at the end of it FOS agreed the claim had been wrongly rejected and ordered Egg to pay Andrew compensation which totalled £22,216.40!
Said Andrew: “I knew I had PPI because when I went for the loan I was given the impression that if I didn’t have the insurance I might not get the loan, but I still had no idea how much I might get back.
“I thought it might be enough for a new pair of shoes and I was amazed with how much I actually got back. It was well worth the wait. I’m back on my feet – it’s taken the pressure off.
“The service from Gladstone Brookes was very slick and very professional. I gave them the basic details and they took it all from there, including making the appeals to FOS,” he added.
Top finance experts are speculating that Lloyds Banking Group (LBG) will take another £1 billion hit for the mis-selling of PPI before the end of the year.
Richard Partington of Bloomberg Business says: “Lloyds Banking Group will probably take a further £1 billion charge for wrongly sold loan insurance in the year’s second half, undermining efforts to clean up the bank as the government prepares to sell shares to individuals.”Read More
When retired psychiatric nurse Roger Enskat first came to Gladstone Brookes in June of 2014 he had two claims for mis-sold PPI on credit cards from Mint and the Co-operative Bank.
The Mint claim was settled with a payment of £3,049.61 in less than 8 weeks, but the Co-op rejected the claim against them, saying they did not believe the PPI had been mis-sold.Read More
New quarterly figures issued by the Financial Ombudsman Service (FOS) show that 74% of the claims resolved between April and June had been unfairly rejected.
The new figures show that FOS received 62,105 complaints about PPI in the three month period, resulting in 49,377 new claims – a rate of 3,700 a week. PPI claims continue to make up more than half of all complaints received by the service.Read More
Former teacher John Thompson suspected he might have PPI attached to his Capital One credit card, but couldn’t be sure because he had no paperwork to back it up.
“I thought I might have it, but I had no evidence and so I didn’t make a claim. Then I saw the Gladstone Brookes advert on the telly and decided to give it a go,” he said.Read More
One of the country’s top mortgage broking firms has warned of the dangers that payday loans could have for anyone making a mortgage application.
Simon Collins of John Charcol brokers says the firm have seen a noticeable increase in the number of mortgage applicants either being rejected for a loan or finding their offer significantly reduced because they have taken out a payday loan.