We try to answer all your claim questions on this website. There is one section
of FAQ for each stage of your claim.
GENERAL PPI CLAIM QUESTIONS
If you have requested a claim pack, this section contains answers to common queries
we receive.
When my PPI claim is successful,
how much will I receive?
How long will it take to receive
a PPI claim pack?
We will send out pre-populated claim packs by post once you have spoken to us. It's
best to speak to a trained claims advisor to ensure that you are claiming for all
your eligible PPI refund. This brief conversation also ensures we will have a fuller
picture of how to fight your complaint for you in the long run.
We will then post your claim packs, (and a return envelope) with most of the information
completed. You will simply need to finish and return the forms. If you see something
that you want to change, make the amendments to the form in black ink and write
your initials next to them.
• If you have claimed online and we have not been able to contact you, we will automatically
post your claim packs, one for each loan and card on which you are submitting a
claim.
• If you do not wish to wait for postal services, you can
download and print claim
packs from our website here.
The forms contain only the information we need to process your complaint. Once completed
please return each pack to us at our freepost address:
FREEPOST
RRRR-JYCA-XKKK
IC Claims
1C Riparian Way,
Cross Hills,
BD20 7AA
No, the only essential information that we need is the bank / card company name,
account number and your signature. As long as you have signed next to each orange
arrow and the account details are on there, we can process the PPI claim. All you
need to do is
1. Check we have your details correct on each form.
2. Complete and sign the each declaration including 'Terms of Service', 'Letter
of Authority', and 2 x 'Financial Ombudsman Service' forms (2 signatures are required
for a joint loan or card).
3. Tick the main reasons why you believe you may have been mis sold each PPI policy.
4. Locate any missing Policy numbers Simply return to us and we will complete your
claim process for you.
Will I need to pay anything upfront?
Definitely not. We operate on a no win, no fee basis.
Does a claim affect my credit rating?
Making a PPI refund claim will not affect your credit rating in the slightest. If
we reclaim any money, it is only money that you deserve and money that the company
has admitted taking off you unlawfully.
Do I need to have paid off my loan,
card or mortgage off before I can claim back PPI?
It does not matter whether the card/loan is outstanding or paid off. As long as
you have made a payment in the last 6 years, we can make a claim and help you get
your PPI money back.
Can I reclaim my bank charges?
Unfortunately, we can no longer fight bank charges. The courts voted in favour of
the banks and we can't reclaim any charges that you may have had on a bank account/overdraft.
However, within our group company 'Investor Compensation (Claims) LLP' we can help
you with
other claims you may be entitled to make.
A large proportion of PPI policies have been mis-sold. Many thousands of consumers
do not even realise they have a case to claim PPI. A list of instances where the
banks routinely misled on PPI includes:
• Banks didn't tell you that you could buy a PPI policy elsewhere
• Costs of PPI were not fully explained, or without explaining you would be borrowing
money to pay for it
• Customers may have thought agreeing to the PPI policy was mandatory or would contribute to the likelihood of being accepted for the loan
• Policies for PPI were sold to the retired, self employed or unemployed, who weren't
eligible to claim!
• Terms and conditions for PPI weren't explained properly
• Customers were presumptively sold PPI
• Many customers already had PPI protection cover and the bank didn't check
• Banks did not highlight the circumstances in which customers couldn't make a PPI
claim
Will you claim back 100% of my PPI
premiums paid?
Yes, and this will be repaid to you in full, less our fees.
What is your fee?
There's nothing to pay upfront. Only when we are SUCCESSFUL and we've recovered
all your PPI premiums, plus compound interest you may have paid on the premiums,
interest (normally at the rate of 8% simple per annum) to any excess payments made
on the loan, and, if possible, an inconvenience payment we take a 30% fee plus VAT.
If I've closed my account some time
ago, can you still help me make a PPI claim?
Yes. In most cases, we can reclaim charges for the past ten years irrespective of
whether the account is still open.
Can you still help me if I've already
started a PPI claim against my bank / card company?
As long as you have not taken your case to the Financial Ombudsman Service, or another
claims service we usually can. To enable us to take over the litigation, we require
all the documentation by recorded delivery post. But please call us first to discuss
your individual situation.
Is there a charge if I want to cancel?
You may cancel the Agreement by providing written notice to us within 14 days of
the date of the commencement of the instruction. It is recommended that you send
any notice of cancellation by recorded delivery post. However, once the PPI claim
has been processed, and if, under any under exceptional circumstances, you would
like to cancel a claim we charge £85 + VAT for every hour of work that we
have done.
Will I be charged if my PPI claim
fails?
No.
RECEIVED A CLAIM PACK
If you have requested a claim pack, or about to make a claim, this section contains
answers to common queries we receive.
Why have you sent several packs?
If you have multiple complaints we have to address each bank / card PPI sale separately.
This means we will require duplicate claim packs. Even within one bank group, we
will need to complete individual claim documents to fight each policy you were sold.
Can I get help to complete the PPI
claim documents?
If there are any questions you have regarding claim pack forms, check if they are
covered on this website. If you still need assistance call an advisor on 0844 88
00 648. If you have 3 or more claims to make we can send someone to help you complete
the necessary forms in person.
The bank / card company don't have
any records for me. How can I get my account number?
By law, the company has to keep your details for 6 years, so if you have made a
payment within that time, they have to give you the account number. If they won't
give you it over the phone, you can request your account number in writing.
How long will my PPI claim take?
How long does the process take?
Claim time varies by each complaint. The banks (now failed) request for a Judicial
Review on PPI claims caused backlogs across the Financial Services Industry, but
this issue is now declining as past claims are met. We aim to file a full complaint
for you as quickly as possible. The complete process depends hugely on how long
it takes each bank / card company to handle our original complaint. We petition
them to handle complaints more quickly. Credit companies have 8 weeks to reply by
law, which could extend the full claim process to payment to 12-16 weeks. However,
our quickest claim was settled within 10 working days.
Who is Investor Compensation? / How
do I know you will be professional and get my money back?
You may have had, or will receive communication from 'Investor Compensation' to
complete your claim. PPIClaimback and
www.PPIclaimback.co.uk is a trading style
of Investor Compensation (Claims) LLP.
See company information. Within our group
company 'Investor Compensation (Claims) LLP' we can also help you with
other claims
you may be entitled to make. Investor Compensation has been established since 2003,
(and making consumer claims since 2007), it is a leader in compensation claims.
We are regulated by the Ministry of Justice in respect of regulated claims management
activities (Number: CRM8130) our registration is recorded on the website
www.claimsregulation.gov.uk . We have already processed over 50,000 claims and had over £50 million refunded
for our clients.
PPIClaimback is a trading style of Investor Compensation (Claims) LLP.
See company
information Investor Compensation has been established since 2003, (and making consumer
claims since 2007), it is a leader in compensation claims. We are regulated by the
Ministry of Justice in respect of regulated claims management activities (Number:
CRM8130). We have already processed over 50,000 claims and had over £50 million
refunded for our clients.
When we receive your claim paperwork we will take care of your complaint from here
on in. We will collate information on each claim and notify the bank / card Company
of each of your complaints We will let you know that the claim process has started
via phone, letter, or email. Please ensure you notify us of any change in your contact
details so that we can keep you informed throughout.
CLAIM PACK RETURNED / STATUS UPDATES
If you have returned your PPI claim pack and have any questions on the next steps
or what is happening with your PPI claim, here are some answers to frequently asked
questions:
I have received correspondence from
my bank in relation to my PPI claim, what should I do?
Please do not hesitate, send any claim correspondence into us at our freepost address:
FREEPOST
RRRR-JYCA-XKKK
IC Claims
1C Riparian Way,
Cross Hills,
BD20 7AA
I returned a PPI claim pack. Why
haven't I heard from you?
If you haven't heard from us, it is likely that we haven't received a final response
from the vendor, (bank / card company), and that we are currently in the process
of obtaining this from them. We will, of course, try to send regular texts and emails
to keep you in the loop with the major steps of your PPI claim.
If anything is missing or unsigned, when we review your PPI claim pack, we will
contact you to complete the information we need.
How do I know what is going on with
my PPI claim?
We will, as standard service, notify you at each main stage of progress with your
PPI complaint.
We plan to update this site with a 'My Claim' status section. In the meantime If
your question is not answered here on the website, and you have an ongoing claim,
please feel free to call us on our Customer Service line 0844 88 00 648 or Email:
info@investorcompensation.co.uk
We may also contact you if we need any information from you during the claim. We
may contact you by phone, text or email, so it is important that you keep us updated
with any changes in your contact details.
To check the status of your existing claims(s) - Click Here
I can't find my policy number – can
I still claim PPI back?
You can make a PPI claim without your original loan / card agreement. However we
do still need a policy number to prove you purchased PPI. Try these to track yours
down:
• Statements
• Online banking
• Loan / card agreements
• Call or write to your local branch
If you find your policy number, call us on 0844 88 00 648. If you can't find it,
let us know any way and we may be able to help.
What is an Upheld Letter?
An 'Upheld Letter' is the vendors' (bank / card company) way of saying they are
willing to offer settlement on your case. Sometimes there is a requirement to sign
an acceptance form.
It is perfectly normal that the actual offer isn't stipulated on this correspondence.
The bank / card company has to calculate the offer and they do this upon receipt
of the acceptance form.
If there is an offer amount, it is important you tell us as soon as possible. While
we should have a copy of the upheld letter, please call us just in case (0844 88
00 648). We only have a few days in which to contest the full amount of any offer.
What is the best contact number once
I have started a PPI claim?
If your question is not answered here on the website, customer service for PPI claims
in progress can be reached on 0844 88 00 648.
COMPLAINT SUCCESSFUL
If your PPI complaint is accepted and you have received your offer of claim settlement,
or a payment, these are the most frequently asked questions.
I have had an offer letter. What
do I do? Why do you need to check it?
Sometimes the bank's figures are different to those we believe you should be receiving
for your PPI claim. We will need to question incorrect figures immediately, in order
to ensure you do not lose your money. To ensure quick settlement, please call 0844
88 00 648.
If the offer is full and fair what
next?
Once we are happy that the full and correct offer has been made to redress your
complaint, all that remains is for us to ensure you are paid your money back. Each
bank and card company will make payments in different ways. Some will make a payment
at the same time as the offer, and others will require an 'offer acceptance' signature.
We will try to ensure that you are paid quickly. If you would like to give feedback
see 'How do I give feedback?'.
How do I give feedback?
Once we have concluded you claim to your satisfaction, please do not hesitate to
provide feedback on our service, good or bad, and email us at
info@investorcompensation.co.uk
If there is a payment, it is important you tell us as soon as possible. While you
will have had compensation, it is important that it the amount is checked. Please
call us just in case (0844 88 00 648). We only have a short period in which to contest
the full amount of any offer.
I have received an invoice or a call
from you for your payment. Why is that separate?
Our fees will not be paid by the banks separately. Therefore, under our contract,
you will need to pay the invoice we send you. See also 'How do I pay or discuss
an invoice?'
When will I receive your invoice?
Only once the offer has been accepted, and we are happy with it, we will calculate
our fees and send you an invoice. Please keep aside the claim money needed to pay
the invoice. It's possible that our invoice may arrive just before the banks final
payments. Obviously you can settle the invoice from those payments.
How do I pay or discuss an invoice?
We require payment within 14 days from the date of the invoice.
• Credit & debit card payments are welcome; Online at:
http://www.bankingrefunds.co.uk or
over the phone on 0844 257 0269.
• Cheques and postal orders can be made payable to 'Investor Compensation'.
• You can also make payments directly to our account. Account Number: 80252859 Sort
Code: 20-11-88
Please remember to quote your name and reference with all payment methods.
Please call 0844 257 0269 if you need to discuss an invoice or payment.
If you have had a letter rejecting your complaint, or your claim has been sent to
the Financial Ombudsman Service (FOS), here are some answers to frequently asked
questions:
What if my claim is rejected?
Some claims can be rejected by the bank / card companies.
If you receive a letter from your bank rejecting your complaint, you must let us
know as soon as possible. We should have been sent a copy also. However, it's important
that we hit the deadline for any appeal we can make to the Financial Ombudsman Service
(FOS). We will address any points raised by the banks on your behalf.
How do I appeal my banks decision
on my PPI claim?
Where we feel you have a strong case, we will refer your case to FOS for you. If
you have not already received one, you may be sent an additional PPI consumer questionnaire
form to complete. Should you need help completing the FOS consumer questionnaire form
click here to download a step by step PPI consumer questionnaire guide, or you can call 0844 88 00 648 to speak to a claims advisor who can help with this document.
No, our fee covers any additional work. However, we try not to pursue claims we
do not think will be good use of our or your time to pursue.
How long will my appeal to the Financial
Ombudsman Service (FOS) take?
Normally FOS only becomes involved in order to settle a dispute. Currently, the
FOS is receiving large volumes of complaints and is therefore unable to stipulate
a specific timescale.
As a guideline it is advising that it could take a maximum of 12 months in these
cases. However, it will make an initial assessment on the disputed PPI claim within
3 to 6 months. We will act on your behalf, and stick with claims that we believe
in referring to FOS.
What is the Financial Services Compensation
Scheme (FSCS)?
In some cases we have to refer cases that are not rejected, but where the company
who sold you the PPI policy has gone out of business. The FSCS is the independent
organisation that handles these PPI complaints. It will review your claim in a similar
way to the banks.
MY QUESTION ISN'T ANSWERED HERE
Please check all sections of our online FAQ. If your questions are not answered
here, you can call us on 0800 954 0817.
If you have an ongoing claim, please feel
free to call us on our Customer Service line 0844 88 00 648 or
Email:
info@investorcompensation.co.uk
To check the status of your existing claims(s) - Click Here