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5 Feb 20

The Claims Guys customers’ PPI Claims value tops £1billion

To date, The Claims Guys has helped customers claim back over £1billion for mis-sold Payment Protection Insurance (PPI).

The Claims Guys has so far helped over 470,000 customers successfully claim refunds from their Lenders and continues to progress Claims started before the PPI deadline in August 2019.

Delays in Lenders’ Complaint responses
The lead-up to the PPI deadline saw a dramatic increase in the volume of Claims submitted to Lenders, this has led to many Lenders extending the expected time they take to respond to Complaints. The Regulator has acknlowledged that Lenders may not be able to meet their normal complaint handling times and reassures consumers that:

“If you are entitled to compensation, you will receive interest on the amount you are due (typically 8%). This will include the length of time it took to respond (so you won’t lose out financially from any delay)”i.

Plevin PPI Claims
Although The Claims Guys cannot accept new complaints regarding mis-sold PPI, we are able to investigate if customers could be entitled to compensation due to Plevin. Plevin refers to undisclosed commission paid to brokers or Lenders that often formed a large part of the cost of PPI policies. The Claims Guys are working with Legal Partners to pursue PPI Plevin Claims, seeking a refund of the full amount of undisclosed commission paid.

You may be eligible for Compensation if:

• You have not previously complained about the mis-selling of PPI
• You had a Claim for mis-sold PPI rejected
• You had a refund for the Plevin-only part of your PPI (known as a ‘tipping point offer’)

Please note, consumers who have had a full refund for PPI mis-selling in the past have no remaining loss to claim, as the redress will have included a refund of all commissions paid on the policy.
If you would like to find out more about Plevin and whether you could have a potential PPI Plevin Claim, please visit our Plevin PPI pages: https://www.theclaimsguys.co.uk/plevin-ppi/

Source

  1. https://www.fca.org.uk/ppi/after-complain