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We get asked a whole range of questions related to PPI Claims every day, so to make it easier for you to find out a bit more, we have put together this list of PPI FAQs.

If your question is not answered below, please contact us and a member of our friendly team will get back to you with an answer. If we think your question might be useful to other people, you might even find we add it below!

Our guide to your most frequently asked PPI questions…

  • What does the PPI Deadline mean for TCG customers?

    Given the impending PPI Deadline, this is a busy period for both The Claims Guys and Lenders.

    If you have received communication from us to confirm that your Complaint has been submitted to your Lender you may not hear from us again until we have received an update from them. We would normally expect a Lender to take up to eight weeks to respond to a PPI Complaint but, given the volume of Complaints they are likely to receive prior to the PPI Deadline, on occasion this timescale may be exceeded.

    Please note: If you have more than one Claim, you would receive communication from The Claims Guys for each individual Claim.

    If you have not received communication from us to confirm that your Complaint has been submitted to your Lender, and would like to query the status of any potential Claim, you can email us at:, please provide your Claimant ID which you should be able to find on your correspondence from The Claims Guys.

    IMPORTANT: In order to give us an opportunity to process any information or updates you can provide, please return any Pack or documents requested, by Friday 23 August 2019.

  • What is PPI?

    Payment Protection Insurance (PPI) was a product designed to cover your repayments on Loans, Credit Cards, Car Finances, Mortgages, Store Cards and Catalogues if you are unable to work due to an accident, illness or redundancy.

    As many as 64 million PPI policies1 have been sold in the UK between 1990 and 2010, but it was often mis-sold.

    More than £35bn2 has already been paid back to people who have complained about the sale of PPI.

    Complaints about PPI have previously been made about the way the PPI was sold, but following a recent change in complaints handling guidance there is also reason to complain if the Bank or other provider earned a high level of commission from the sale of PPI, which customers were not told about at the time of sale.


    1. Financial Conduct Authority (FCA): Payment protection insurance explained – Last updated 29.04.2019
    2. Financial Conduct Authority (FCA): Monthly PPI refunds and compensation – Last updated 12.07.2019
  • How was PPI mis-sold?

    According to the Regulator3, the following are just some ways PPI could have been mis-sold:

    • You were pressured into buying PPI or told you must have PPI
    • You were promised a cheaper rate if you bought PPI
    • You were told your Loan or Credit application was more likely to be accepted if you bought PPI
    • PPI was added without telling you
    • You were advised to buy PPI that did not suit your circumstances or needs
    • You were self-employed, unemployed or retired but advised to buy PPI
    • You had a pre-existing medical condition at the time of buying PPI, which may have affected your ability to make an insurance claim
    • You were advised that a pre-existing medical condition was included in your PPI policy (or advised that it was not included)
    • It was not made clear that you would pay interest on the PPI if it was added to your loan
    • It was not made clear that the PPI would end before the Loan or Credit was repaid

    There may be other reasons you were mis-sold PPI.


    1. Financial Conduct Authority (FCA): Complain about mis-selling of PPI – Last Updated 29.04.2019

    New reason to complain

    The changes to the complaints handling guidance, were a result of a court case about commission earned by a provider (often called Plevin), which means you may now also:

    • Complain even if PPI was not mis-sold or you do not think it was mis-sold
    • Complain even if you had a previous Complaint about mis-selling of PPI rejected
  • What kind of finance agreements can we look into?

    We can check for PPI on Loans, Credits Cards, Store Cards, Catalogues and Mortgages.

  • How do I know if I had PPI?

    Many people do not know they had PPI – we are able to provide a PPI Check to find out if you have /had any of your products. Once you submit your details we will commence our Claims Services and work on investigating, preparing, submitting and handling your Claim(s). Our Fee of 24%, inclusive of VAT, will be payable on all successful Claim(s), as per the Terms of Engagement. Give our team a call on 0800 08 222 00 and we will be happy to help you look into it.

  • Can I still make a Claim if I no longer have any paperwork?

    Yes, we just need as much personal information as you can provide, this will help us to locate you and any PPI policies you may have had with your Lender(s). For example, we would need the name of your Lender(s), your full name, address, date of birth and any previous names and/or addresses.

  • Can I make more than one Claim?

    Yes! Typically Claimants have a number of PPI Claims across different Loans, Credit Cards, Mortgages, Store Cards and Catalogues. There is no limit to the number of Claims you can make.

  • Can I make a Claim on a Loan that has now been paid off?

    Yes, you can make a Claim whether your Loan has been paid off or if it is still open. Fill in our PPI Claim Form now or call us on 0800 08 222 00.

  • What are my Tax Responsibilities following a successful Claim?

    Compensation awarded to customers following a successful Claim for PPI may be taxable. Please read on to find out more:

    If my PPI Claim is successful and I receive compensation, will it be taxable?

    – You are required to pay income tax on the statutory compensation payment from the Lender
    – Any refund of policy premiums or interest you paid is not taxable

    How much income tax will I have to pay?

    – In line with UK Legislation, income tax will be deducted from any statutory compensation payment at the basic rate of 20%

    What if I am entitled to claim back income tax?

    – If you are a non-taxpayer it may be possible to reclaim this from HMRC (R85 forms – the HMRC form which shows you are a non-taxpayer – cannot be accepted with this type of interest)
    – You will need to contact HM Revenue & Customs (HMRC) directly in order to complete a R40 claim form

    Is there anything else I should know?

    – If you do not complete a tax return or you need to pay income tax at a higher or additional rate, you will need to contact HMRC directly as well

    Tax liability, as a result of compensation awarded for mis-sold PPI is the responsibility of the customer.

    Please refer to the PPI Advice section on the HMRC website which offers more information.

    You can also call the HMRC Tax Helpline on 0300 200 3300.

  • How will I get paid if I am successful?

    Most Lenders will pay the redress directly to you, either via cheque or credit into an active bank account. Please note that if you are subject to a formal debt arrangement, such as IVA, Debt Management or Bankruptcy, please be advised any compensation may be offset against outstanding debts. In these circumstances our Fee(s) will only be payable on the amount of compensation you directly receive. Please be advised that if you are in an informal debt arrangement or have arrears or an outstanding balance, then any compensation may be used to reduce the balance or repay your debts which could mean you may not receive any cash payment in hand. However, you will still be liable for our Fee(s).

    In the event that your Lender pays The Claims Guys directly, we will deduct any outstanding Fee(s) and forward any remaining amount to you.

  • What are formal or informal debts?

    A formal solution is a legally binding agreement between you and your creditors to pay back or discharge your debts over a period of time. A formal solution is granted under a ‘statutory’ scheme which means that it has set rules and requirements for how it operates, and it is managed by an Insolvency Practitioner.

    Formal Debt solutions include:

    • IVA
    • Bankruptcy
    • Debt Relief Order
    • Protected Trust Deed (Scotland)
    • Sequestration (Scotland)
    • Debt Arrangement Scheme (Scotland)

    An informal debt solution is an arrangement with your creditors where a monthly payment is made to each creditor on a pro-rata (proportional) basis until all debt is repaid. This is ‘informal’ because they do not have to agree to the arrangement. There is no formal legal agreement or court decision to make your creditors accept your offer. Informal debt solutions do not have to be managed by an Insolvency Practitioner, they are often arranged directly with creditors or through a debt management firm.

  • How much does it cost to make a Claim?

    If we are successful in reclaiming your PPI, then our current Fee(s) is 24%, inclusive of VAT, of any redress offer you receive as a result of our Claims Services. Please refer to the Terms of Engagement in your Initial Pack.

  • Do I have to pay anything up front?

    No, The Claims Guys do not charge anything up front.

  • Do I have to pay anything if my Claim is not successful?


  • Will making a PPI Claim affect my relationship with the Bank?

    No, there are various regulations in place in order to ensure that making a PPI Claim will not impact any existing relationship which you may have with your Bank or other Lender.

  • Will my credit rating be affected?

    No, your credit rating will not be affected by making a Claim.

  • Can I make a Claim myself?

    You do not need to use a claims management company to make your Complaint and you are able to complain directly to your Lender or other compensation scheme, such as the Financial Services Compensation Scheme (FSCS), for free. If you are dissatisfied with the outcome of your Complaint you can refer it to the Financial Ombudsman Service (FOS) yourself.

  • How can I cancel my Agreement(s) with The Claims Guys?

    You have the right to cancel any Agreement(s) free of charge within 14 days of The Claims Guys (TCG) receiving your initial signed Letter of Authority.

    After 14 days, you have the right to terminate your Agreement(s). However, TCG may issue a Termination Charge(s) which will be reasonable and proportionate to the work done and the costs incurred by TCG up to the point of termination. Please refer to the Terms of Engagement.

  • Are you authorised and regulated?

    The Claims Guys Limited are authorised and regulated by the Financial Conduct Authority, Interim Permission Number 833489

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