Financial Claims


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Claim Back YOUR MoneyDo you feel as though you have been mis-sold a product or been treated unfairly by a lender or financial product provider?  If so, you will find information below that will help you to learn about what types of claims you may be able to make and how to go about actually making a claim.

What Can I Claim For?

There are three types of claims that we may be able to help you with, which are:

  • Mis-sold PPI (payment protection insurance on loans & credit cards)
  • Unfair Charges (credit card and bank charges)
  • Unfair Contracts (this includes unenforceable credit agreements for credit cards, loans and in some cases, mortgages)

Click Here To Contact Us For Claims Advice


Mis-sold PPI Claims

If you have a credit card, store card, loan or car finance there’s a fair chance you'll have payment protection insurance. Many of these policies were mis-sold, which means that you may be entitled to claim compensation.

Remember If you’ve ever borrowed money, you could have a PPI.

PPI is an insurance to cover your payments should you fall into financial hardship by becoming unemployed, ill or have suffered an accident.  PPI cover can be purchased at the same time as the loan, mortgage or credit card is applied for, taken out later, or offered as a stand alone policy.  There's a strong chance it was mis-sold if:

  • You were not informed of the costs and that it was optional
  • You were not made aware of the policy's exclusions
  • You were not given a full explanation and asked about your employment status or medical condition

To learn more about about whether you might be entitled to make a claim, please visit the PPI Claims section.

Reclaim Unfair Credit Card or Bank Charges

Despite what you may have seen or heard in the media, you CAN still reclaim unfair credit card or bank charges.  To attempt to claim back your charges from your bank or credit card provider, you will probably need to fulfill the Financial Services Authority’s financial hardship official definition:

“A complainant is considered to be in financial difficulty when his or her income is insufficient to cover reasonable living expenses and meet financial commitments as they become due.”

This means when you are struggling to pay your utility bills, rent, council tax, or repay your mortgage, credit cards or loans.  In other words, if you are experiencing some kind of financial hardship.

To learn more about about whether you might be entitled to make a claim, please visit the Reclaim Bank Charges or the Credit Card Claims section.

Unfair Contracts

Any form of credit taken out by a borrower under a sum £25,000 must conform to the Consumer Credit Act. Due to changes in the Act, agreements taken out before April 2007 may not be enforceable.

In real terms, the conditions of the agreement may be invalid.  If this is the case, your credit card and/or personal loan balances can be legally cleared or 'written off'.

There has been quite a lot of misunderstanding about debt write-off recently as some unethical and unqualified Claims Management Companies have jumped on the band wagon and frankly, given the financial claims industry a bad name.  It is important that any claim you may have is fully assessed before starting a potential claim against a lender or product provider.

N.B. making a financial claim is not a 'quick fix' method to get out of debt.  If you are struggling with debts, please visit the Debt Help & Advice section of the website.

To learn more about about whether you might be entitled to make a claim, please visit the Credit Card Claims, Loan Claims or Mortgage Claims section.  You may also find our Financial Claims Questions & Answers section useful.

Useful Links

>>> Reclaim Bank Unfair Charges
>>>
Debt Help & Advice
>>> Money Calculators
>>> Financial Claims Questions & Answers
>>> Sign up to the Free Money Advice Newsletter

 

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