Frequently Asked Questions

Frequently Asked Questions

We try to answer all your PPI claims questions on this website. There is one section of FAQ for each stage of your claim.


What is PPI?

Payment Protection Insurance (PPI) is an insurance product usually sold alongside Loans, Mortgages, credit cards and other financial agreements to cover repayments to your lender if your normal income is affected as a result of accident, sickness or unemployment.

How do I know if I may have been mis-sold PPI?

A large proportion of PPI policies have been mis-sold. Many thousands of consumers may not even realise they have a case to re-claim PPI. A list of instances where PPI may have been mis-sold includes:

  • Not realising you had PPI on your account
  • Not being informed that the PPI was optional or that it could be taken out with another company
  • Already having a sick pay scheme at work, so did not need the policy
  • Not being informed of what the policy did and didn’t cover
  • Being told that you couldn’t take out the loan or credit card unless you agreed to take the PPI
  • Any pre-existing medical conditions that were not taken into account
  • If you were self-employed or retired at the time of the policy

Whats the procedure for claiming back PPI with PPI Claimback?

We take some basic details from you including which vendor you are looking to make a claim against. We would then issue a claim pack for you to return back to us once you have signed it. Once we have your fully completed claim pack we will submit your claim to the vendor. We  will keep you updated every step of the way.

How far back can I claim?

We may be able to go as far back as the early 90’s depending on the type of product the PPI covered. There are some vendors that do require an agreement number in order to progress your claim, and you may need to provide evidence of PPI.

How long does the claim process take?

Claim time varies depending on each complaint. 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.  Credit companies have 8 weeks to reply by law, which could extend the full claim process to payment to 12-16 weeks. If the claim is rejected by the credit company it can be submitted to the Financial Ombudsman Service  for further review and on average this can take up to 24 months.

Do I need to have repaid my loan, card or mortgage 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.

If I’ve closed my account, can you still help me make a PPI claim?

Yes.  The length of time lenders keep records will depend on the type of product, the type of policy and when you last made a payment to the policy. Lenders  generally keep records of policies you held for at least 6 years after your agreement with them ended.

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 taken from you for a PPI policy that was mis-sold.

If my PPI claim is successful, how much will I receive?

Unfortunately we cannot tell you exactly how much you could receive – this will depend on your individual case. We will always submit a claim for a full refund of the PPI that you have paid any interest incurred on the premiums plus 8% statutory interest.

What is your fee?

Our fee is 20% (+ VAT) of the gross settlement amount. By way of example, if your gross settlement amount is £1,000, our fee will be £200 (+ VAT). Please see our terms and conditions for further illustrations.

Will I need to pay anything upfront?

We operate on a no win, no fee basis. However a fee will be payable if a case is not pursued at your request outside of the ‘cooling off’ period.

Will you claim back 100% of my PPI premiums paid?

We will submit a claim for the entire amount of PPI you have paid, interest incurred on the premiums   plus 8% statutory interest.  Where your claim is successful, we will be entitled to a fee, which is payable by you to us of 20% (plus VAT) of the settlement amount.

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 claim, we will require all the existing documentation by recorded delivery post. But please call us first to discuss your individual situation.

How long will it take to receive a PPI claim pack?

Once you have spoken to us, we will send out pre-populated claim packs by post within 5 working days. It’s best to speak to a trained claims agent to ensure that you are claiming for all your eligible PPI policies. This conversation also ensures we have the full picture in order to fight your complaint for you.

We post your claim packs, (along with a pre-paid return envelope) with most of the information completed. You just simply need to read all information carefully, finish, sign and return the forms. If you see something that you want to change, please make the amendments to the form in black ink and write your initials next to them.

If you have submitted your claim online and we have not been able to contact you, we will automatically post your claim packs, one for each loan and card PPI policy within 48 hours of the enquiry.

The forms contain only the information we need to process your complaint. Once completed please return each pack to us at our address:

Investor Compensation
Unit 1C Riparian Way
Crossings Business Park
Cross Hills
BD20 7AA

Can I make the claim myself?

Yes, of course you can. You can contact your bank/lender. If you are subsequently unhappy with the outcome, you can ask the Financial Ombudsman Service to look into this for you. Details can be found on the Financial Ombudsman website.


What forms will I need to complete?

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 the Claim Details Form which we have completed for you and fill in any missing details. Don’t worry if you cannot complete all of the information.

2) Read, sign and date the Terms of Service and Letter of Authority for each claim.

3) Send everything back today in the enclosed FREEPOST envelope.

Is there a charge if I want to cancel?

You can cancel the agreement at any time. You have the right to cancel the agreement within 14 days of receipt of your signed terms of service free of charge. Cancelling your contract after this time can result in a reasonable charge associated with the processing of your claim to date. Notification of your intent to cancel must be made by a clear statement (letter, post, email, verbal, cancellation form etc.) Please read the Terms and Conditions within your claim pack for further details.

We may terminate the Agreement if We become aware that You are pursuing your claim independently or if You fail to comply with your obligations under paragraph 4.1 or 4.6 and such failure results or is likely to result in Us being unable to manage your Claim effectively, in which case You will be liable to pay Us at our discretion an amount which We calculate, acting reasonably, as representing the costs We have incurred in relation to your Claim at the rate of £60 plus VAT per hour.

Will I be charged if my PPI claim fails?


You will only incur a fee if your claim is successful or if the case is not pursued at your request.

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 multiple claim packs. Even within one bank group, we will need to complete individual claim documents to fight the case for each policy you were sold.

Can I get help to complete the PPI claim documents?

Hopefully these FAQs have answered any questions you have with the claim packs, however if you would like assistance please call an adviser on 0161 312 1125.

The bank / card company don’t have any records for me. How can I get my account number?

The company has to keep your details for 6 years after the policy has closed. If they won’t give you it over the phone, you can request your account number in writing.

If you need assistance then call one of our team who should be able to discuss what to do next.

Do I need my agreement number?

Due to the relationships we have with most vendors we are able to ask for confirmation of PPI on an account before we issue a full claim. If you have tried and are unable to get the agreement number needed, the vendors may provide this to us as part of this process but this is not guaranteed. They will also give us details of any other PPI Policies you are named on as well

I can’t find my policy number and the bank / card company requires this?

If the vendor requires an agreement number to prove you purchased PPI, there are a number of tools to track this down:

  • Bank Statements
  • Online / Telephone Banking
  • Credit Report

Who is Investor Compensation?

You may have had, or will receive communication from ‘Investor Compensation’ to complete your claim. PPIClaimback and are trading styles of Investor Compensation (UK) Ltd.

Investor Compensation has been established since 2003, (and making consumer claims since 2007). We are a founding member of the Professional Financial Claims Association (PFCA) and will always handle your claim with the utmost professionalism.

What happens next, after I return my PPI claim pack(s)?

Once we receive your claim paperwork we will take care of your complaint from here on in. We will collate information on each claim you have submitted 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. In certain cases, we may need to contact you to obtain additional information; again this will be done 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.


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 to us at our address:

Investor Compensation
Unit 1C Riparian Way
Crossings Business Park
Cross Hills
BD20 7AA

I have returned my PPI claim pack. Why haven’t I heard from you?

If you haven’t heard from us, we can only apologise! It’s likely that we haven’t received a final response from the lender, (bank / card company), that you have made a claim against. We aim to keep customers updated throughout the process, so we will be contacting you with an update.

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. 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 0800 542 6866 or from a mobile 01535 959 592, alternatively email us at
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.

What is an Upheld Letter?

An ‘Upheld Letter’ is the lender’s (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 on 0203 142 8116 to let us know whether you would like to accept the offer proposed or if not, discuss your right to dispute the offer through the Financial Ombudsman Service (FOS).

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 0800 542 6866 or from a mobile 01535 959 592.


I have had an offer letter. What do I do? Why do you need to check it?

As part of the claims process, we need to validate the offer to make sure you are receiving what is owed to you please call 0800 542 6866 or from a mobile 01535 959 592.

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.

I have had a payment into my account from my bank, is that it?

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 the amount is checked. Please call us on 0203 142 8116 so we are able to validate the amount.

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. Therefore, under our contract, you will need to pay the invoice we send you separately. See also ‘How do I pay or discuss an invoice?

When will I receive your invoice?

When we receive notification of a settlement 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.

  • debit card payments are welcome on the payment page of this website or over the phone on 0203 142 8116.
  • 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 0203 142 8116 if you need to discuss an invoice or payment.

Invoice notice

PPI Claimback, a trading style of Investor Compensation (UK) Ltd operate on a No Win, No Fee basis. However a fee will be payable if a case is not pursued at your request outside of the ‘cooling off’ period. Please note:

We do not ask for fees up front;

We will never ask for payment in person;

We only seek payment after issuing our invoice to you, which confirms your mis-sold PPI settlement offer and our fees due;

  • We would never ask you to disclose personal or payment information by email or SMS.

If you have been asked for an upfront fee, payment in person or payment from people claiming to be PPI Claimback or Investor Compensation (UK) Ltd please contact us immediately on 0203 142 8116.


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. 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 the Financial Ombudsman Service (FOS) If you have not already received one, you will be sent a 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 0800 542 6866 or from a mobile 01535 959 592 to speak to a claims advisor who can help with this document.

Will I be charged more if I appeal?

No, our fee covers any additional work. However, we may choose not to pursue claims we do not think will be good use of our or your time.

How long will my appeal to the Financial Ombudsman Service (FOS) take?

Normally the FOS only becomes involved in order to settle a dispute. As a guideline they are advising that it could take up to 24 months in these cases. However, they 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 need referring to the FOS.


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: