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Archive for tag: PI complaints

PPI Customers Have Complaints Upheld by the FOS

Making a payment protection insurance (PPI) compensation claim involves you, as the customer, to prove you were mis-sold PPI on your accounts or products.

For the majority of customers, in Payment Protection Scotland's experience, this is a fairly straightforward process.

The mis-selling of PPI to customer in the UK was done in such a way, that the majority of customers find that their claim is successful.

Not the Whole Picture…

Unfortunately, some banks and lenders still find reasons not to refund PPI. In the event of this happening to any of our customers, we recommend that the case is taken to the Financial Services Ombudsman (FSO).

This is summary of one such case - the full version can be found on the FSO website as can other examples of complaints being both 'upheld' and 'not upheld'.

The customer decided to purchase the house of her grandparents. Her grandparents had been renting the property for some time and when the landlord decided to sell, the customer decided to buy the property with her grandparents still living in the property. The customer would be living elsewhere.

Hence, the customer arranged a mortgage with the bank making it clear she would NOT be living at the property. She purchased PPI, after completing the forms with the bank representative.

Unfortunately the customer, some time later, lost her job. She made an application under the PPI policy but was declined. The reason was that she was not living at the property and this was part of the policy's terms and conditions. On complaining to the bank, she was told the decision would stand.

She took her case to the FOS who looked at all the evidence and found in favour of the customer. Even though it was in the terms and conditions that she must be living at the property, this customer had made it clear to the bank representative that this would not be the case.

Although the bank had not recommended the policy to her, the representative was more than aware that she would not be living at the property and that the PPI terms and conditions would effectively exclude her from cover.

The bank was told to put things right and that meant compensation, ensuring the customer was put back to the financial position she would have been in had she not been sold PPI.

If you think you have a PPI claim, why not call us first to talk through your potential compensation case? We offer straightforward advice - call us now!

Time and PPI Complaints

Time has a habit of running away with us; one minute our families are small, the next the children are off to university or are travelling the world!

With PPI compensation claims, the same is true; it seemed only yesterday that Payment Protection Scotland were dealing in the cases in the infancy of the saga, fighting hard to win compensation for our customers and now, many years later, the fight can still be just as hard.

Lost in the midst of time has been who and why concerns were raised about PPI. The Financial Ombudsman Service(FOS), now a leading organisation in helping consumers claim their money back from the banks, raised concerns back in 2001 about the potential mis-selling of this insurance product.

They raised the issue again in 2005 but it was the Citizens Advice Bureau in 2006 who raised the 'super complaint' that really set the PPI mis-selling saga rolling.

In 2011, the banks, lenders and financial institutions in the UK lost their judicial review and the flood gates opened. At first, the complaints started to trickle through and banks made 'offers'; they offered derisory sums of money to customers thinking this would be enough.

But, it wasn't and soon, the trickle become a tidal wave of complaints that have taken the banks by surprise.


But, when thinks go a little wrong and the bank say no to a PPI compensation claim, there is one more avenue open to the consumer and this is to ask the FOS to review the case, asking if the judgement that the banks have shown is correct.

Although there are various estimates about how many policies were mis-sold to customers, it is true to say the figures are staggering. And so, bearing this in mid, this mis-selling saga was never going to be over in a few months - it will take years to sort of this PPI mis-selling mess.

How long your case takes to resolve depends on a number of variables:

  • How easy or difficult it is to find all the paperwork relevant to your account on which you are claiming PPI compensation
  • Every case varies; with some the facts are straightforward but with some cases, the circumstances surrounding the selling of the policy to a customer can be more complex and difficult to determine

Honest advice

But, at the start of the claiming process many years ago, there were some companies who attempted to claim compensation on behalf of customers even when they knew they were not entitled to any monies.

And so getting honest, upfront advice is essential - Payment Protection Scotland is one of the leading claim management companies in Scotland. We can help.

PPI Complaints – Have you Made Yours Yet?

Have you heard the good news stories about people making claims for PPI compensation and finding they are owed thousands of pounds?

You must have read some of these amazing stories or, maybe you know someone personally who is now enjoying a delightful windfall. Some people win a few hundreds back in PPI compensation for being mis-sold this insurance product, but other people are winning back thousands. And, with the scale of the problem being bigger that anyone predicted, you too could be sat on a small fortune - but not know it yet!

The number of complaints regarding PPI keep on growing…

The figures of how many people have claimed, and how much they have won in PPI compensation change on a daily basis so these figures could already have been superseded by the time you read them!

To date (December 2014) there had been…

  • 13 million complaints about the mis-selling of PPI and this figure will continue to go up - is your case part of this figure or not?
  • Of these 13 million, the Financial Conduct Authority has ordered that 2.5 million cases (around 20% of the figure) must be re-opened as they have not been resolved satisfactorily or handled fairly
  • The re-opening of these 20% of cases is expected to add a further £1 billion to the collective compensation bill across all banks and lenders
  • This could be an extra £400 for each of these customers!
  • Since 2001, 34 million PPI policies worth around £50 billion were sold to customers
  • There are various estimates but it is thought that around 61% of these policies sold have not been complained about yet

What the banks hope will happen…

Banks and lenders are finding that their PPI compensation bills are starting to really mount up and, at the start of the whole process, they were not so keen on letting customers know that they could claim compensation.

In 2012 and 2013, many banks did not give the due consideration needed to some claims for PPI compensation that their customers lodged with them. They may not have included for example, the fees and costs that may have been added to the account as a result of the PPI premium pushing the account over the agreed credit limit. The Financial Conduct Authority has decided that this is not fair and that these customers need to have the full amount of compensation paid to them… hence 2.5 million cases being re-opened!

Have you claimed? Or do you think your resolved case was not compensated fairly? Contact Payment Protection Scotland to help you get your case re-opened!


Has Your PPI Compensation Complaint Been Handled Correctly?

Payment protection insurance (PPI) are three words that strike fear into the minds and heart of any bank or lender in the UK. What started as a vehicle to huge profits has now turned into a huge hole in the banks' coffers.

After many judicial reviews as well as arguments, banks along with building societies and all lenders who unfairly sold PPI to unsuspecting customers have been ordered to pay it back. Whilst this sounds simple, it does mean that the onus is on the customer to prove they were mis-sold PPI.

But, that is not as hard as it sounds as the majority of consumer organisations, as well as financial regulatory authorities seem to be erring on the side of the consumer, helping them to make the claim they need to - and get every single penny back of the money that was unfairly taken from them.

The Financial Conduct Authority (FCA) came into being at the start of 2013, replacing the Financial Services Authority. With beefed up powers as a result of the PPI mis-selling scandal, they are responsible for regulating the conduct and practice of all financial institutions within the UK.

The FCA have been carrying out spot checks at various institutions as a result of various complaints about the handling of PPI, finding"significant issues"among two thirds of the firms they visited.

In one case, concerns were so severe that they have been referred to for 'enforcement action'; the name of the institution has not, as yet, been released.

Whilst a small majority of people may have benefitted from PPI, it is now widely accepted that the majority of customers who were paying for the insurance, would not have been able to make a claim. Likewise, many customers did not realise they were paying for PPI!

The FCA has told banks and lenders that they should be acting in a fair and consistent manner when it comes to reimbursing customers for PPI payments. In some cases, it found that this was the case but, in others, it was not so with customers still effectively being 'short changed' or treated shoddily.

The financial institutions it visited, the FCA found that they have paid out £1.1 billion thus far; a fraction of what many believe will be the final PPI compensation bill. It also said it disagreed with 59% of those cases these firms had rejected as having genuine PPI compensation claims and had significant concerns in 43% of cases where PPI compensation or redress had been offered.

Do you have a PPI Claim?

If you feel you are owed money by banks or other UK-based lenders, then there is help available. Payment Protection Scotland offers a professional and flexible service to the residents of Scotland looking to make a PPI compensation case against a bank or lender. We charge a fee for our service but we have a high success rate and brilliant customer service. It all starts with a phone call!

Financial Ombudsman Service Sees PPI Complaints Soar

What is PPI?

On paper, the product doesn't seem too bad - payment protection insurance makes the repayments on your debts (loans, credit cards etc.) if you are unable to do so due to unemployment, illness etc.


... the terms and conditions of the policy meant that many people were not covered and in the majority of cases, cover finished short of the term of the loan etc. For example, if you made a claim on it in the last few months of your loan, you would find that you were not covered.

Driven by high profits and large commissions, customers were sold a policy they would be unable to claim on but in many cases, the PPI policy was added to the customer's account without their agreement or knowledge.

Customers - like YOU - were paying over the odds for a product that was effectively useless.

After much arguing, the banks were told they would have to pay back this money to customers. And this is where the problem started.

At first, banks made 'offers' far below the actual amount that they should have been paying back. Customers were advised on this via claims management companies such as PPI Scotland, along with consumer groups and the media. Customers, as a result, refused these 'offers'.

But then customers were kept waiting too long for their case to be resolved and, customers were also told NO.

But, with the internet and consumer organisations to help, people are savvier now and demanded that the money which had been taken from them was to be repaid - in full!

The Financial Ombudsman Service (FOS) is the independent body that works with both the financial sector and the consumer, resolving issues with financial products and services. They are the body that is now inundated with PPI complaints - in fact by July 2013 complaints about PPI had jumped by 179%.

Overall, FOS is finding that consumers are complaining more about many financial products and not just PPI, as a result of being so fed up of malpractice by banks and lenders.

You may be surprised to find you have PPI on your accounts. Payment Protection Scotland is an expert and professional company, specialising in helping customers claim back their PPI premiums. Why not give us a call today?

PPI Complaints to the Ombudsman Rocketing

The financial ombudsman of the United Kingdom is receiving 1,500 new complaints about Payment Protection Insurance every day.

Overall complaints to the ombudsman about PPI now total 400,000.

This is a small figure compaired to the total number of PPI complaints made by consumers across the UK, as the ombudsman only deals with cases that can't be resolved between the consumer and the bank/lender.

If you have a PPI Complaint contact Payment Protection Scotland TODAY!

PPI complaints process to be made easier

PPI complaints process to be made easier

Following an investigation by Which? and leading financial service providers have agreed to make it easier to find out about PPI and making a complaint.

This would be welcomed by Payment Protection Scotland, however, we remain unconvinced by the main lenders. In our experience many of the lenders are becoming reluctant to face up to their responsibilities and deal with claims in an efficient manner.