Search FAQs. About us About us. Outlook November Check your money's safe Use our bank and savings protection checker to check your money is protected. Check you're protected. What we cover. Home What we cover Payment protection insurance Payment protection insurance. If the firm failed after 1 Jan Down Arrow. If it failed before 1 Jan Down Arrow. But recent court decisions mean that customers can potentially claw back all of the commission they have paid and claim after the deadline.
In other words, successful claimants only received part of the commission that had been paid to the banks. A series of other court cases saw the position change again, as claimants were awarded the full commission where the bank failed to disclose large commission payments to the customer.
As almost all PPI policies earned high commission rates, this change was significant and opened the floodgates to new claims. Customers who have received a partial payment, have had their claims rejected or have not claimed so far can now claim, citing the unfair compensation. Even customers who were not mis-sold PPI and were happy with their policy can potentially claim as the high commission payments may not have been disclosed to them. The potential for new PPI claims based on the unfair commission payments could not have come at a worse time for the banks as they are still facing a backlog of existing claims to process.
Banks were overwhelmed by the volume of claims and although the expected time for banks to respond to such claims is typically eight weeks, the FCA managed this expectation by predicting that most claims would be resolved by summer Law and courts Legal system Claiming compensation for a personal injury Discrimination Parking tickets Civil rights. Top links Making a small claim Help for victims of rape and sexual violence.
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Top links Find your local Citizens Advice Volunteer with us Jobs in our network Press releases Our blogs Read what we're saying about a range of issues. England This advice applies to England: England home Advice can vary depending on where you live. PPI explained Many loans and finance agreements have insurance which covers your payments if you stop work because of illness, an accident, you become disabled or you lose your job.
Did this advice help? Yes No. Why wasn't this advice helpful? It isn't relevant to my situation. It doesn't have enough detail. I can't work out what I should do next. I don't understand.
Bank consultants often failed to provide enough details about the PPI policy, to allow the client to make an informed decision. In some situations, PPI was sold to clients who were not eligible to obtain it. If you feel that you have paid for PPI that was sold to you under unclear circumstances, you could be entitled to claim PPI.
First of all we have to find out whether you paid PPI. Call us now If you think you were mis-sold a financial product.
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