Investor Compensation was established in 2007 and is one of the UKs leading financial claims management companies.
It’s impossible to escape the biggest financial mis-selling scandal the UK has ever seen Latest estimates are that around 64 million PPI policies were sold in the UK, with over £29 billion paid out for complaints so far.
What is less well known, is that many businesses were also mis-sold PPI. PPI was added to business loans, mortgages, credit cards and overdrafts, but the banks often called it by a variety of different names including:
Unfortunately, it is not as easy to find out if you could have a claim for Business PPI as it is for an individual. The banks do not have the same processes in place for businesses as they do for an individual, and finding out might involve SAR or RFI submissions.
Common mis-sale reasons include:
Any claim that is made on behalf of a business lies with the business entity and not an individual (even when the policy was taken out in an individual’s name) so the company must not be dissolved. If the business is in administration, you can still make a claim however any payment will be used to pay creditors.
A successful claim may result in a full refund of the premiums plus statutory interest.
You do not need to use a claims management company to make your complaint to your bank, and if your complaint is not successful you can refer it to the Financial Ombudsman Service yourself for free.
There’s a deadline
The Financial Conduct Authority (FCA) has imposed a deadline on all PPI claims (consumer and business) of 29 August 2019. If you don’t start your claim before the deadline your business could miss out on thousands of pounds. To talk to one of our specialist advisers, fill out the form above or call us free on 0800 083 0167 and we’ll be happy to help.
Figures shown before any applicable Income Tax is deducted – Calculated up to Jan-18
The clock is ticking to find out if you are owed Thousands
The PPI Deadline date has been set by the Financial Conduct Authority (FCA). You now have until 29th August 2019 to submit your PPI claim. After this date you will loose your right to claim