Latest News

5 Dec 18

Payday lenders must pay out mis-sold loans

The Financial Conduct Authority (FCA) has told payday lenders that they must “pay out to settle complaints even if it threatens bankruptcy”.* The Director of Supervision at the FCA (Jonathon Davidson) wrote a letter to firms in the high-cost-short-term credit market, explaining that lenders must treat the complaints seriously and they must warn the regulator if the subsequent redress bill is likely to send them into bankruptcy. The warning comes… Read More »

31 Aug 18

Lloyds again increase provisions for mis-sold PPI claims

Lloyds Banking Group announced in its Half-Year Results that it had set aside £460m (including Administration costs) for Payment Protection Insurance (PPI) claims. This significant increase brought Lloyds’ PPI provision to £2.0bn (including Administration costs) and its total bill for PPI mis-selling is reported to stand at £19.2bn (including Administration costs). Lloyds expect to receive 13,000 PPI complaints per week until the 29 August 2019 deadline, which has been set… Read More »

23 Jul 18

Testimonial: Miss Jones

“From the first phone call to the last, The Claims Guys have been a fabulous team. They have been professional throughout my successful claim, which I never thought I’d get. A massive thank you!” 23.07.2018

18 Jul 18

Testimonial: Mrs Elliot

“I can’t thank The Claims Guys enough. They have been extremely helpful, always answered their phones quickly and kept me in the picture every step of the way. I am absolutely amazed with the amounts they have recovered for me, I would never have achieved the same outcome if I had pursued the claims myself. I am one very happy customer!” 18.07.2018

13 Jul 18

Could UK lenders face new multibillion-pound claims following recent PPI ruling?

Since August 2017, lenders have been required to follow guidance from the Financial Conduct Authority (FCA) surrounding a court ruling known as Plevin when dealing with claims for PPI – regardless of whether the policy was deemed to have been mis-sold or not.  The guidance set out that lenders should also consider if a commission had been paid out of the PPI premiums and whether the commission amount was fair…. Read More »

29 Mar 18

The Commission Game Changer

With the deadline for claiming back Payment Protection Insurance (PPI) just over a year away, the Financial Conduct Authority (FCA) have seen a significant increase in PPI payoutsi and enquiries following their TV campaign starring Arnold Schwarzenegger, which was launched 29 August 2017ii, being a fundamental factor. Following on from this spike in growth, legal action by the Supreme Court back in 2014 means that customers who have had their… Read More »

12 Feb 18

The Claims Guys have helped customers claim back £600million†!

To date, The Claims Guys (TCG) has helped customers to Claim back over £600million† for mis-sold Payment Protection Insurance (PPI). We are currently processing around 20,000 Claims a week. Our largest customers Claim to date is £87,983† and the highest Total Claim(s) value for another customer is £274,381†. †Figures shown before any applicable Income Tax is deducted – calculated up to 31 October 2017

30 Nov 17

Testimonial: Patricia

“The Claims Guys were very efficient throughout the whole process. I got back what I didn’t realise I had, I couldn’t have asked for a better outcome.” 30.11.17

27 Nov 17

Monthly PPI Pay-outs remain high in 2017

Payment Protection Insurance (PPI) remains to be the most complained about financial product, making up a third of the total 3.32million complaints in the first half of 2017.   Pay-outs The latest figures from the Financial Conduct Authority (FCA) show that £271.5 million was paid out in August to customers who complained about the way they were sold PPI, the largest monthly pay-out so far this year. This takes the… Read More »

17 Nov 17

Clydesdale & Yorkshire Bank set aside an extra £403m for PPI claims

Clydesdale Bank’s parent company, Clydesdale Yorkshire Banking Group (CYBG), has announced it is setting aside an extra £403m (including Administration costs) for mis-sold Payment Protection Insurance (PPI) claims. The Financial Conduct Authority (FCA) has recently launched a £42m PPI TV advertisement campaign to raise awareness of the mis-selling of PPI and the reclaim deadline. This has resulted in an increase in PPI claims being made, meaning banks are having to… Read More »